Calithera Biosciences, Inc. (CALA) saw its loss narrow to $5.59 million, or $0.22 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $9.58 million, or $0.52 a share. Revenues for the quarter were $4.19 million. The company has not recorded any revenues for the previous year period.
Operating loss for the quarter was $5.76 million, compared with an operating loss of $9.66 million in the previous year period.
"During the first quarter, we significantly strengthened the company’s financial position and we believe we are well positioned to execute on our strategy. Our collaboration and license agreement with Incyte maximizes the clinical and commercial potential of CB-1158, and we are pleased to have achieved the first milestone in March,” said Susan Molineaux, PhD, president and chief executive officer of Calithera. "Looking forward to 2017, we are on track to highlight new clinical data from each of our clinical programs at scientific meetings, including an oral presentation of CB-1158 data at the American Society of Clinical Oncology in June, and multiple clinical updates on CB-839 in renal cell carcinoma and triple negative breast cancer in the second half of 2017.
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