Aviragen Therapeutics, Inc. (AVIR) saw its loss widen to $10 million, or $0.26 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $6.60 million, or $0.17 a share. Revenue during the quarter plunged 94.12 percent to $0.10 million from $1.70 million in the previous year period.
Operating loss for the quarter was $9.60 million, compared with an operating loss of $6.70 million in the previous year period.
"Throughout the last quarter and in recent weeks, we have made significant progress advancing each of our Phase 2 antiviral clinical programs. Most notably, I am pleased to announce the completion of enrollment in the SPIRITUS Phase 2b trial of vapendavir for the treatment of HRV infections in moderate and severe asthmatic patients as well as the Phase 2a RSV challenge study of BTA585. We look forward to announcing top-line data from both of these trials in the coming months," commented Joseph M. Patti, PhD, president and chief executive officer of Aviragen Therapeutics.
Working capital remains almost stable
Aviragen Therapeutics, Inc. has witnessed a decline in the working capital over the last year. It stood at $54 million as at Sep. 30, 2016, down 0.92 percent or $0.50 million from $54.50 million on Sep. 30, 2015. Current ratio was at 7.14 as on Sep. 30, 2016, down from 9.13 on Sep. 30, 2015. Days sales outstanding went up to 6072 days for the quarter compared with 428 days for the same period last year.
Debt comes down
Aviragen Therapeutics, Inc. has recorded a decline in total debt over the last one year. It stood at $0.70 million as on Sep. 30, 2016, down 22.22 percent or $0.20 million from $0.90 million on Sep. 30, 2015. Total debt was 1.11 percent of total assets as on Sep. 30, 2016, compared with 1.27 percent on Sep. 30, 2015. Debt to equity ratio was almost stable at 0.02 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
