Aldeyra Therapeutics, Inc. (ALDX) saw its loss widen to $5.09 million, or $0.37 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $4.97 million, or $0.51 a share.
The company has not recorded any revenues for the current as well as previous quarter.
Operating loss for the quarter was $5.10 million, compared with an operating loss of $4.97 million in the previous year period.
"We are pleased to update our progress with four clinical programs, three of which are now in late-stage development," commented Todd C. Brady, M.D., Ph.D., president and chief executive officer of Aldeyra. "We expect results from our Phase 2b clinical trial in allergic conjunctivitis in June of this year, results from our Phase 2a clinical trial in Dry Eye Syndrome in the third quarter of this year, results from our Phase 3 clinical trial in noninfectious anterior uveitis in the second half of next year, and initial top-line data from our Phase 3 clinical trial in Sjögren-Larsson Syndrome in the second half of next year. With the initiation of a Phase 3 clinical trial in noninfectious anterior uveitis, the advancement of our clinical pipeline across four clinical indications - coupled with the receipt of orphan designation for ichthyosis - highlights the productivity achieved in the first quarter."
Working capital increases sharply
Aldeyra Therapeutics, Inc. has recorded an increase in the working capital over the last year. It stood at $29.06 million as at Mar. 31, 2017, up 35.17 percent or $7.56 million from $21.50 million on Mar. 31, 2016. Current ratio was at 13.06 as on Mar. 31, 2017, up from 12.89 on Mar. 31, 2016.
Debt moves up marginally
Aldeyra Therapeutics, Inc. has witnessed an increase in total debt over the last one year. It stood at $1.32 million as on Mar. 31, 2017, up 1.97 percent or $0.03 million from $1.30 million on Mar. 31, 2016. Total debt was 4.19 percent of total assets as on Mar. 31, 2017, compared with 5.53 percent on Mar. 31, 2016. Debt to equity ratio was at 0.05 as on Mar. 31, 2017, down from 0.06 as on Mar. 31, 2016.
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