ACADIA Pharmaceuticals Inc. (ACAD) saw its loss widen to $78.70 million, or $0.65 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $45.78 million, or $0.45 a share. Revenue during the quarter surged 70,264.71 percent to $11.96 million from $0.02 million in the previous year period.
Operating loss for the quarter was $78.23 million, compared with an operating loss of $45.56 million in the previous year period.
"2016 was a transformational year for ACADIA highlighted by the launch of NUPLAZID (pimavanserin) as the first and only drug approved by the FDA for the treatment of hallucinations and delusions associated with Parkinsons disease psychosis," said Steve Davis, ACADIAs president and chief executive officer. "We are pleased with the strong progress of the launch and our execution in bringing this drug to Parkinson’s patients."
Working capital increases sharplyACADIA Pharmaceuticals Inc. has recorded an increase in the working capital over the last year. It stood at $505.31 million as at Dec. 31, 2016, up 156.39 percent or $308.23 million from $197.09 million on Dec. 31, 2015. Current ratio was at 12.87 as on Dec. 31, 2016, up from 10 on Dec. 31, 2015.
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