Adamas Pharmaceuticals Inc (ADMS) saw its loss widen to $16.03 million, or $0.72 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $13.83 million, or $0.65 a share. The company has not recorded any revenues for the current quarter. However, it has reported a revenue of $0.18 million for the previous year period.
Operating loss for the quarter was $16.23 million, compared with an operating loss of $13.99 million in the previous year period.
"In the first quarter, we continued preparing for the potential approval and commercialization of ADS-5102, which, if approved, will be the first and only medicine indicated for the treatment of levodopa-induced dyskinesia in people with Parkinsons disease," stated Gregory T. Went, Ph.D., chairman and chief executive officer of Adamas Pharmaceuticals, Inc. "We are pleased with the hire of our new Chief Operating Officer, Richard King, who will lead our efforts toward the commercialization of ADS-5102."
Operating cash flow remains negativeAdamas Pharmaceuticals Inc has spent $13.94 million cash to meet operating activities during the quarter as against cash outgo of $12.50 million in the last year period. Cash flow from investing activities was $10.44 million for the quarter, down 33.10 percent or $5.17 million, when compared with the last year period.
Cash flow from financing activities was $0.68 million for the quarter, down 98.91 percent or $61.52 million, when compared with the last year period.
Cash and cash equivalents stood at $20.92 million as on Mar. 31, 2017, down 78.74 percent or $77.49 million from $98.41 million on Mar. 31, 2016.
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