Optimer removes chairman, reports preliminary revenues

Optimer Pharmaceuticals Inc. (NASDAQ:OPTR) reported 1Q12 preliminary revenues and said its board removed Chairman Michael Chang and terminated CFO John Prunty and VP Youe-Kong Shue due to "lapses in corporate governance practices." Chang remains a director, though the board requested his resignation. Board member Hank McKinnell will become chairman, and Kurt Hartman will become acting CFO. Hartman is Optimer's general counsel, chief compliance officer and SVP.

Optimer said it expects 1Q12 gross revenues of about $16.5 million. The Street was expecting $29.4 million in 1Q12 revenues. Last July, the company launched antibiotic Dificid fidaxomicin in the U.S. with co-promotion partner Cubist Pharmaceuticals Inc. (NASDAQ:CBST). Optimer plans to report full 1Q12 results on May 3 (see BioCentury, Aug. 1, 2011). ...