Aratana Therapeutics, Inc. (PETX) saw its loss widen to $23.33 million, or $0.64 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $12.86 million, or $0.37 a share.
Revenue during the quarter surged 363.49 percent to $0.29 million from $0.06 million in the previous year period.
Operating loss for the quarter was $22.90 million, compared with an operating loss of $12.28 million in the previous year period.
"In 2016, Aratana distinguished itself as a pioneer in the animal health industry by achieving three FDA approvals for innovative pet therapeutics in a single year," stated Steven St. Peter, M.D., president and chief executive officer of Aratana Therapeutics. "In 2017, we aim to commercialize our approved therapeutics and continue to progress our deep pipeline of development-stage therapeutic candidates."
Working capital declines
Aratana Therapeutics, Inc. has witnessed a decline in the working capital over the last year. It stood at $66.85 million as at Dec. 31, 2016, down 19.78 percent or $16.48 million from $83.34 million on Dec. 31, 2015. Current ratio was at 2.93 as on Dec. 31, 2016, down from 15.66 on Dec. 31, 2015.
Debt moves up marginally
Aratana Therapeutics, Inc. has witnessed an increase in total debt over the last one year. It stood at $40.19 million as on Dec. 31, 2016, up 1.20 percent or $0.48 million from $39.71 million on Dec. 31, 2015. Short-term debt stood at $14.41 million as on Dec. 31, 2016. Total debt was 26.54 percent of total assets as on Dec. 31, 2016, compared with 27 percent on Dec. 31, 2015. Debt to equity ratio was at 0.44 as on Dec. 31, 2016, up from 0.39 as on Dec. 31, 2015.
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