ACADIA Pharmaceuticals Inc (ACAD) saw its loss widen to $87.84 million, or $0.72 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $49.76 million, or $0.45 a share.
Operating loss for the quarter was $88.81 million, compared with an operating loss of $50.26 million in the previous year period.
"We’re very pleased with our strong start to 2017," said Steve Davis, ACADIA's President and Chief Executive Officer. "The use of NUPLAZID® in Parkinson’s disease psychosis continues to expand as brand awareness among neurologists, psychiatrists, and other healthcare providers grows. We also continue to advance our ongoing clinical studies in Alzheimer’s disease agitation, schizophrenia inadequate response, schizophrenia negative symptoms, and major depressive disorder, and we look forward to moving our Alzheimer’s disease psychosis program into Phase III in the second half of 2017."
Working capital remains almost stable
ACADIA Pharmaceuticals Inc has recorded an increase in the working capital over the last year. It stood at $444.49 million as at Mar. 31, 2017, up 0.74 percent or $3.26 million from $441.23 million on Mar. 31, 2016. Current ratio was at 10.82 as on Mar. 31, 2017, down from 21.89 on Mar. 31, 2016.
Days sales outstanding went down to 33 days for the quarter compared with 27539 days for the same period last year.
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
