Dermira Inc (DERM) saw its loss widen to $25.51 million, or $0.72 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $16.05 million, or $0.58 a share.
Revenue during the quarter plunged 98.37 percent to $0.12 million from $7.30 million in the previous year period.
Operating loss for the quarter was $25.94 million, compared with an operating loss of $16.27 million in the previous year period.
“Dermira continued to make significant progress in the third quarter, including the announcement of topline data from the first of three Phase 3 trials evaluating CIMZIA in patients with moderate-to-severe chronic plaque psoriasis and two business development transactions,” said Tom Wiggans, chairman and chief executive officer of Dermira. “We look forward to several anticipated milestones, including completing the DRM04 Phase 3 ARIDO long-term safety study, sharing topline results from the two remaining CIMZIA psoriasis trials, and initiating the DRM01 Phase 3 program in patients with acne. With our balance sheet boosted by our follow-on offering in the second quarter and the recent license payment from Maruho, we believe Dermira remains in a strong financial position.”
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