1Q Revenues: $1.7 million (-29%)
1Q Loss: $15.1 million (loss of $14.3 million in 1Q12)
Comments: Contract revenue decline was due to a decrease in research work performed under R&D agreements. R&D expenses were $11.2 million, down 12%. On April 5, 2013, the company entered a research agreement with the Gates Foundation to discover drug candidates to treat elephantiasis and tuberculosis. Anacor will receive as much as $17.7 million over three years for research activities.