Cascadian Therapeutics (CASC) saw its loss widen to $10.51 million, or $0.47 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $9.13 million, or $0.58 a share.
The company has not recorded any revenues for the current as well as previous quarter.
Operating loss for the quarter was $10.59 million, compared with an operating loss of $9.15 million in the previous year period.
"In 2016, we focused our efforts on the development of tucatinib for late-stage HER2-positive metastatic breast cancer for patients with and without brain metastases and amended our ongoing HER2CLIMB study by increasing the sample size so that, if successful, the trial could serve as a single pivotal trial to support registration," said Scott Myers, president and chief executive officer of Cascadian Therapeutics. “For 2017, we have prioritized our resources on expanding HER2CLIMB globally and exploring the potential utility of tucatinib in additional HER2-positive expressing cancers. With a global development plan underway, clarity on a U.S. regulatory pathway and a solid financial position, we have set the foundation to execute our strategy."
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