Dimension Therapeutics, Inc. (DMTX) saw its loss widen to $49 million, or $1.97 a share for the year ended Dec. 31, 2016. In the previous year period, the company reported a loss of $35.06 million, or $4.41 a share.
Revenue during the year surged 48.01 percent to $11.47 million from $7.75 million in the previous year.
Operating loss for the year was $49.05 million, compared with an operating loss of $34.96 million in the previous year.
"During 2016, we further advanced the science and manufacturing of AAV-based gene therapy including the continued development of our next generation HeLa 2.0 platform and initiated our global Phase 1/2 clinical trial for DTX301, our lead IMD product candidate for the treatment of ornithine transcarbamylase (OTC) deficiency," said Annalisa Jenkins, MBBS, FRCP, chief executive officer of Dimension. "We also continue to explore options for DTX101 as our data mature, while remaining laser-focused on maximizing the value of our portfolio. We are dedicated to advancing these and other key programs in order to bring hope to patients and their families living with rare genetic diseases associated with the liver."
Working capital drops significantly
Dimension Therapeutics, Inc. has witnessed a decline in the working capital over the last year. It stood at $64.68 million as at Dec. 31, 2016, down 44.59 percent or $52.05 million from $116.73 million on Dec. 31, 2015. Current ratio was at 4.13 as on Dec. 31, 2016, down from 9.84 on Dec. 31, 2015.
Debt increases substantially
Dimension Therapeutics, Inc. has witnessed an increase in total debt over the last one year. It stood at $6.53 million as on Dec. 31, 2016, up 389.87 percent or $5.20 million from $1.33 million on Dec. 31, 2015. Total debt was 6.96 percent of total assets as on Dec. 31, 2016, compared with 1 percent on Dec. 31, 2015. Debt to equity ratio was at 0.11 as on Dec. 31, 2016, up from 0.01 as on Dec. 31, 2015.
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