Aimmune Therapeutics, Inc. (AIMT) saw its loss widen to $22.09 million, or $0.53 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $8.99 million, or $0.36 a share.
The company has not recorded any revenues for the current as well as previous quarter.
Operating loss for the quarter was $22.24 million, compared with an operating loss of $9.02 million in the previous year period.
"These are exciting times at Aimmune with the recently announced equity investment by Nestlé Health Science, completion of North American enrollment in the Phase 3 PALISADE trial of AR101, and progress on plans for RAMSES, a real-world experience trial of AR101," said Aimmune chief executive officer Stephen Dilly, M.B.B.S., Ph.D. "Our research and development expenses were significantly higher this quarter as a result of exceeding our enrollment target in PALISADE in North America and a lower patient dropout rate than initially projected. We expect to complete European enrollment in PALISADE by year-end, keeping us on track for top-line data in the fourth quarter of 2017."
Working capital drops significantly
Aimmune Therapeutics, Inc. has witnessed a decline in the working capital over the last year. It stood at $140.73 million as at Sep. 30, 2016, down 34.45 percent or $73.95 million from $214.69 million on Sep. 30, 2015. Current ratio was at 12.88 as on Sep. 30, 2016, down from 70.25 on Sep. 30, 2015.
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