Bellerophon Therapeutics (BLPH) saw its loss narrow to $7.42 million, or $0.37 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $10.83 million, or $0.83 a share.
The company has not recorded any revenues for the current as well as previous quarter.
Operating loss for the quarter was $7.29 million, compared with an operating loss of $10.86 million in the previous year period.
"I am pleased with the progress in our ongoing clinical programs to treat pulmonary hypertension in unmet or under-served chronic pulmonary disease areas," stated Fabian Tenenbaum, chief executive officer of Bellerophon Therapeutics. "Importantly, we are delighted by the FDA's recent agreement with the proposed acceleration of our PAH Phase 3 program, which has the potential to make the INOpulse® therapy available to PAH patients approximately two years earlier than otherwise would have been possible under the original Phase 3 program. This is positive news for the many patients who continue to suffer from poor outcomes with currently available treatments for PAH."
Working capital declines
Bellerophon Therapeutics has witnessed a decline in the working capital over the last year. It stood at $20.01 million as at Dec. 31, 2016, down 6.40 percent or $1.37 million from $21.38 million on Dec. 31, 2015. Current ratio was at 4.08 as on Dec. 31, 2016, up from 3.65 on Dec. 31, 2015.
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