California-based biopharmaceutical company Optimer Pharmaceuticals has reported net loss of $10.4 million, or $0.35 per common share for the fourth quarter of 2008 compared to a net loss of $7 million, or $0.27 per common share for the same period of 2007.

The company reported a net loss of $35.6 million, or $1.24 per common share for the full year 2008 compared to a net loss of $46.1 million, or $2.12 per common share for the full year 2007.

As of December 31, 2008, the company held cash, cash equivalents and short-term investments of $39.3 million. In March 2009, Optimer raised an additional $32.9 million of gross proceeds in a registered direct offering.

The company expects to use cash, cash equivalents and short-term investments of approximately $40 million to $44 million for its operating activities in 2009, based on its current operating plans.