Arca Biopharma (ABIO) saw its loss widen to $16.44 million, or $1.81 a share for the year ended Dec. 31, 2016. In the previous year period, the company reported a loss of $11.44 million, or $1.82 a share.

The company has not recorded any revenues for the current as well as previous year.

Operating loss for the year was $16.61 million, compared with an operating loss of $11.46 million in the previous year.

"During 2016, we continued to make progress advancing the GENETIC-AF clinical trial evaluating Gencaro as potentially the first genetically-targeted treatment for atrial fibrillation," commented Dr. Michael Bristow, ARCA’s president and chief executive officer. "The American Heart Association estimates that approximately 5.2 million Americans had atrial fibrillation in 2015, with medical and indirect costs totaling an estimated $31 billion. We believe that a precision medicine approach to drug development, tailoring medical treatment to the individual genetic characteristics of each patient, can potentially enable more effective therapies, improve patient outcomes and reduce healthcare costs. The GENETIC-AF trial interim efficacy analysis outcome expected in the third quarter of this year will be a major milestone for ARCA, the Gencaro development program and our targeted approach to cardiovascular drug development."