Acceleron Pharma Inc (XLRN) saw its loss narrow to $19.29 million, or $0.51 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $27.08 million, or $0.81 a share.
Revenue during the quarter dropped 11.44 percent to $3.37 million from $3.80 million in the previous year period.
Operating loss for the quarter was $21.99 million, compared with an operating loss of $18.12 million in the previous year period.
"Acceleron made tremendous progress in 2016 across our entire portfolio of potentially first- and best-in-class therapies for patients with serious hematologic, neuromuscular and fibrotic diseases without effective treatments," said Habib Dable, president and chief executive officer of Acceleron. "The pace of recruitment continues to accelerate in both of our ongoing Phase 3 luspatercept trials, and we are highly confident that Celgene will complete enrollment in the second half of 2017. Furthermore, we and Celgene plan to expand the program by initiating new Phase 2 trials in non-transfusion dependent beta-thalassemia and myelofibrosis patient populations highlighting our confidence in the blockbuster potential of luspatercept. With encouraging preliminary results and multiple ongoing studies across all of our programs, we are well positioned for a transformational year in 2017."
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