Aldeyra Therapeutics (ALDX) saw its loss widen to $4.78 million, or $0.38 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $3.37 million, or $0.35 a share. The company has not recorded any revenues for the current as well as previous quarter.
Operating loss for the quarter was $4.78 million, compared with an operating loss of $3.34 million in the previous year period.
"We are extremely pleased with the progress we have made this year with our novel aldehyde trap, ADX-102,” said Todd C. Brady, M.D., Ph.D., president and chief executive officer of Aldeyra. "We have reported favorable Phase II clinical data in three diseases, which include ocular inflammation and inborn errors of metabolism. In addition, we expect to initiate a new clinical program in dry eye syndrome, a common disease where existing treatments have shown limited efficacy." Dr. Brady continued, "In aggregate, the clinical trial results announced this year validate ADX-102 and the aldehyde trap platform as a potentially important therapeutic approach in inflammation and inborn errors of aldehyde metabolism. We look forward to continuing the development of ADX-102 and other aldehyde traps in these and other clinical indications with unmet medical need."
Working capital declinesAldeyra Therapeutics has witnessed a decline in the working capital over the last year. It stood at $26.49 million as at Sep. 30, 2016, down 11.26 percent or $3.36 million from $29.85 million on Sep. 30, 2015. Current ratio was at 11.05 as on Sep. 30, 2016, down from 22.73 on Sep. 30, 2015.
Debt moves up marginally
Aldeyra Therapeutics has witnessed an increase in total debt over the last one year. It stood at $1.31 million as on Sep. 30, 2016, up 2.24 percent or $0.03 million from $1.28 million on Sep. 30, 2015. Short-term debt stood at $0.43 million as on Sep. 30, 2016. Total debt was 4.49 percent of total assets as on Sep. 30, 2016, compared with 4.09 percent on Sep. 30, 2015. Debt to equity ratio was almost stable at 0.05 as on Sep. 30, 2016, when compared with the last year. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
