Bellerophon Therapeutics Inc (BLPH) saw its loss narrow to $4.20 million, or $0.30 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $11.14 million, or $0.86 a share.
The company has not recorded any revenues for the current as well as previous quarter.
Operating loss for the quarter was $4.22 million, compared with an operating loss of $11.17 million in the previous year period.
“Overall, I am pleased to report good progress in our ongoing Phase 3 clinical trial to treat Pulmonary Arterial Hypertension (PAH), under an FDA-granted Special Protocol Assessment,” stated Jonathan Peacock, chairman and chief executive officer of Bellerophon Therapeutics. “We continue to initiate more sites and we are targeting to announce results in mid-2018. The Company also intends to take an interim look at the data through its data monitoring committee, currently planned by the end of the fourth quarter of 2017.
Working capital drops significantly
Bellerophon Therapeutics Inc has witnessed a decline in the working capital over the last year. It stood at $12.74 million as at Sep. 30, 2016, down 66.67 percent or $25.48 million from $38.21 million on Sep. 30, 2015. Current ratio was at 3.66 as on Sep. 30, 2016, down from 5.42 on Sep. 30, 2015.
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