Agile Therapeutics, Inc. (AGRX) saw its loss narrow to $7.80 million, or $0.27 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $9.41 million, or $0.42 a share.
The company has not recorded any revenues for the current as well as previous quarter.
Operating loss for the quarter was $7.09 million, compared with an operating loss of $8.96 million in the previous year period.
"With the anticipated conclusion of our SECURE clinical trial, we will now increase our focus on the resubmission process," stated Al Altomari, chairman and chief executive officer of Agile. "We look forward to continuing our dialogue with the FDA as we prepare our CRL response and NDA resubmission, which is planned for the first half of 2017. We believe that making Twirla commercially available will begin to fill a strong need for innovative products in women’s health."
Working capital increases sharply
Agile Therapeutics, Inc. has recorded an increase in the working capital over the last year. It stood at $46.40 million as at Sep. 30, 2016, up 37.61 percent or $12.68 million from $33.72 million on Sep. 30, 2015. Current ratio was at 6.54 as on Sep. 30, 2016, up from 5.85 on Sep. 30, 2015.
Debt moves up marginally
Agile Therapeutics, Inc. has witnessed an increase in total debt over the last one year. It stood at $15.56 million as on Sep. 30, 2016, up 1.12 percent or $0.17 million from $15.39 million on Sep. 30, 2015. Short-term debt stood at $3.49 million as on Sep. 30, 2016. Total debt was 23.19 percent of total assets as on Sep. 30, 2016, compared with 27.94 percent on Sep. 30, 2015. Debt to equity ratio was at 0.33 as on Sep. 30, 2016, down from 0.47 as on Sep. 30, 2015.
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