LOS ANGELES, Nov. 09, 2018 (GLOBE NEWSWIRE) -- Ritter Pharmaceuticals, Inc. (Nasdaq: RTTR) (“Ritter Pharmaceuticals” or the “Company”), a developer of novel therapeutic products that modulate the gut microbiome to treat gastrointestinal diseases with an initial focus on the development of RP-G28, a drug candidate with the potential to be the first FDA-approved treatment for lactose intolerance, today reports financial results for the three and nine months ended September 30, 2018.
The Company's net loss for the three and nine months ended September 30, 2018 was $4.6 million and $10.2 million, or $0.86 per share and $2.00 per share, respectively, compared to $2.0 million and $5.6 million, or $0.14 per share and $0.42 per share, for the same periods in 2017, respectively. Net loss for the three and nine months ended September 30, 2018, included non-cash, stock-based compensation expense of $171,000 and $562,000, respectively, compared to $203,000 and $546,000, for the same periods in 2017, respectively. As of September 30, 2018, the Company had cash and cash equivalents of approximately $12.5 million.
Ritter Pharmaceuticals, Inc. (www.RitterPharma.com, @RitterPharma) develops novel therapeutic products that modulate the gut microbiome to treat gastrointestinal diseases. The Company’s lead product candidate, RP-G28, has the potential to become the first FDA-approved treatment for lactose intolerance, a condition that affects millions of people worldwide. RP-G28 is currently in Phase 3 clinical development with its first Phase 3 study current underway, known as “Liberatus”. For more information on Liberatus, or to participate in the study, please go to www.liberatusstudy.com. The Company is further exploring the therapeutic potential that gut microbiome changes may have on treating/preventing a variety of diseases including: gastrointestinal diseases, cancer, metabolic, and liver disease.
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that express the current beliefs and expectations of Ritter Pharmaceuticals’ management, including statements regarding its completion of the Liberatus Phase 3 clinical trial and its initiation of a second pivotal Phase 3 pivotal clinical trial for RP-G28 in the treatment of lactose intolerance and other research and development initiatives of the Company. Any statements contained herein that do not describe historical facts are forward-looking statements that are subject to risks and uncertainties that could cause actual results, performance and achievements to differ materially from those discussed in such forward-looking statements. Factors that could affect our actual results are included in the Company’s most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings that we make with the Securities and Exchange Commission. These forward-looking statements are made only as of the date hereof, and the Company undertakes no obligation to update or revise the forward-looking statements, except as otherwise required by law, whether as a result of new information, future events or otherwise.