Alliqua BioMedical, Inc. (ALQA) saw its loss widen to $8.59 million, or $0.30 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $7.13 million, or $0.26 a share. On the other hand, adjusted net loss for the quarter narrowed to $4.58 million, or $0.16 a share from a loss of $5.12 million or $0.19 a share, a year ago.
Revenue during the quarter grew 16.46 percent to $4.87 million from $4.18 million in the previous year period. Gross margin for the quarter contracted 192 basis points over the previous year period to 63.77 percent.
Operating loss for the quarter was $7.77 million, compared with an operating loss of $8.19 million in the previous year period.
"We were excited by the strong revenue growth that we saw in the third quarter, which was fueled by continued commercial strength in sales of our biologic product, Biovance, combined with record sales of our MIST Therapy platform," said David Johnson, Chief Executive Officer of Alliqua. “In addition to our financial performance, we were also pleased to announce the enhancement of our biologics portfolio with commercial introduction of our Interfyl Human Connective Tissue Matrix during the third quarter, as we continue to focus on building out our capabilities as a provider of regenerative solutions.
Alliqua BioMedical forecasts revenue to be in the range of $18.30 million to $19 million for fiscal year 2016.
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