CytomX Therapeutics, Inc (CTMX) saw its loss widen to $58.90 million, or $1.63 a share for the year ended Dec. 31, 2016. In the previous year period, the company reported a loss of $35.37 million, or $4.90 a share. Revenue during the year surged 95.06 percent to $15.04 million from $7.71 million in the previous year.
Operating loss for the year was $59.59 million, compared with an operating loss of $33.20 million in the previous year.
“Over the past year, CytomX has transformed from a research organization to a clinical-stage company, bringing us one step closer to realizing our vision of transforming lives with safer and more effective therapies,” said Sean McCarthy, D.Phil., president and chief executive officer of CytomX Therapeutics. “With our lead program, CX-072, in the clinic and CX-2009 closely behind, together with our world-class pharmaceutical partnerships, we are advancing a broad and deep pipeline of differentiated Probody therapeutics that are focused on some of the most compelling targets for the treatment of cancer.”
Working capital declines
CytomX Therapeutics, Inc has witnessed a decline in the working capital over the last year. It stood at $152.38 million as at Dec. 31, 2016, down 12.43 percent or $21.63 million from $174.02 million on Dec. 31, 2015. Current ratio was at 5.26 as on Dec. 31, 2016, down from 12.06 on Dec. 31, 2015. Days sales outstanding went up to 33 days for the year compared with 27 days for the same period last year.
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