Gemphire Therapeutics Reports Third Quarter 2018 Financial Results and Provides Corporate Update
GEMPHIRE THERAPEUTICS INC COMMON (GEMP)
Last gemphire therapeutics inc common earnings: 5/9 04:02 pm
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ir.gemphire.com
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Source: GlobeNewswire
LIVONIA, Mich., Nov. 08, 2018 (GLOBE NEWSWIRE) -- Gemphire Therapeutics Inc. (NASDAQ: GEMP), a clinical-stage biopharmaceutical company focused on developing and commercializing therapies for cardiometabolic disorders, including dyslipidemia and nonalcoholic steatohepatitis (NASH), today announced financial results for the quarter and nine months ended September 30, 2018, and provided a corporate update. “During the third quarter we had several accomplishments that are important to the continued development of gemcabene,” said Steven Gullans, Ph.D., CEO of Gemphire. “We negotiated our license agreement with Pfizer to extend the timeline to commercialization of gemcabene and we renegotiated the terms of our debt facility with Silicon Valley Bank (SVB) to provide additional flexibility. We also made significant adjustments to our headcount and cash burn to extend our cash runway into at least the fourth quarter of 2019.” “Our immediate priority is to work closely with the FDA to rel
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