Agile Therapeutics, Inc. (AGRX) saw its loss widen to $5.20 million, or $0.18 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $3.90 million, or $0.17 a share.
The company has not recorded any revenues for the current as well as previous quarter.
Operating loss for the quarter was $7.81 million, compared with an operating loss of $9.16 million in the previous year period.
"We made significant progress during 2016 with the successful completion of our SECURE Phase 3 clinical trial, which we believe achieved positive top-line results. We continue to advance our plans to file our NDA resubmission for Twirla in the first half of this year. Once filed, we expect the FDA to complete its review within six months, with a potential approval by the end of 2017." said Al Altomari, chairman and chief executive officer of Agile. "Our priority moving forward is clear, give precedence to our Twirla development activities and prepare for a potential U.S. launch of Twirla. If approved, we look forward to providing women with a new contraceptive option that is designed to offer greater convenience and flexibility for women’s busy lives."
Debt moves up
Agile Therapeutics, Inc. has witnessed an increase in total debt over the last one year. It stood at $16 million as on Dec. 31, 2016, up 5.06 percent or $0.77 million from $15.23 million on Dec. 31, 2015. Total debt was 25.06 percent of total assets as on Dec. 31, 2016, compared with 30.04 percent on Dec. 31, 2015. Debt to equity ratio was at 0.38 as on Dec. 31, 2016, down from 0.51 as on Dec. 31, 2015.
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