Type Publicly traded Industry Pharmaceuticals Founded 1998 | Traded as NASDAQ: OPTR Number of employees 281 (June 2013) Parent organization Cubist Pharmaceuticals | |
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Key people Youe Kong Shue
Samuel J. Danishefsky
Chi-Huey Wong Revenue $144 million (2011)
$100 million (2012) Headquarters Jersey City, New Jersey, United States Founders Michael N. Chang, Tessie M. Che, Michael N Chang | ||
Optimer Pharmaceuticals Inc (NASDAQ: OPTR) was a biopharmaceutical company, originally based in San Diego, CA and later its headquarters were moved to Jersey City, NJ 07302, United States of America.
The company focused on developing specialty drugs to treat gastrointestinal infections and related diseases. In 2011, it received regulatory approval for the first antibacterial drug, Dificid, in 25 years approved to treat certain types of diarrhea (i.e., Clostridium difficile induced diarrhea) in adults. But sales of the drug Dificid failed to meet expectations and the drug faced strong competition from cheaper generic alternatives.
History
Optimer Pharmaceuticals, Inc. was founded in 1998 and registered in the state of Delaware. Corporate and R&D headquarters were located in San Diego, California until 2011. CEO Michael Nientse Chang founded, funded and built the company with his wife, Tessie Mary Che, who was COO from 1998 to 2011.
From 2007 to 2013, Optimer Pharmaceuticals was traded on Nasdaq Stock Exchange under OPTR. At one time, its share price was USD 8.50 per share.
In July 2013, Cubist Pharmaceuticals agreed to purchase Trius Therapeutics and Optimer Pharmaceuticals for around $1.6 billion.
In late October 2013, Cubist Pharmaceuticals completed its $535 million acquisition of Jersey City-based Optimer Pharmaceuticals. Optimer employees were told the New Jersey office would close down in 2014.