Catalyst Pharmaceuticals, Inc. (CPRX) saw its loss narrow to $4.97 million, or $0.06 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $5.39 million, or $0.07 a share.
The company has not recorded any revenues for the current as well as previous quarter.
Operating loss for the quarter was $4.68 million, compared with an operating loss of $6.24 million in the previous year period.
"We continue to work diligently toward the completion of enrollment in our Firdapse LEMS and CMS clinical trials," said Patrick J. McEnany, chief executive officer of Catalyst. "We were also pleased to announce positive top-line results from a proof-of-concept trial for Firdapse as a potential treatment for myasthenia gravis patients that are MuSK antibody positive. We remain committed to the rest of our scientific pipeline and continue to seek ways to leverage our CPP-115 and vigabatrin programs."
Working capital drops significantly
Catalyst Pharmaceuticals, Inc. has witnessed a decline in the working capital over the last year. It stood at $35.55 million as at Mar. 31, 2017, down 30.04 percent or $15.26 million from $50.82 million on Mar. 31, 2016. Current ratio was at 19.66 as on Mar. 31, 2017, down from 20.08 on Mar. 31, 2016.
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