Dimension Therapeutics, Inc. (DMTX) saw its loss widen to $14.36 million, or $0.58 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $10.67 million, or $2.73 a share.
Revenue during the quarter surged 34.01 percent to $2.76 million from $2.06 million in the previous year period.
Operating loss for the quarter was $14.34 million, compared with an operating loss of $10.64 million in the previous year period.
"We are pleased to report the advancement of our lead Phase 1/2 clinical trial of DTX101 for the treatment of hemophilia B, for which we have completed patient dosing in the first cohort and are dosing cohort 2. Based on this progress, we plan to report clinical data from the trial in January of next year," said Dr. Annalisa Jenkins, MBBS, FRCP, chief executive officer of Dimension. "During the third quarter of this year, we also made considerable progress in advancing our IMD portfolio. We completed IND-enabling studies with our lead IMD candidate, DTX301 for OTC deficiency, and plan to file our IND and initiate a global, multi-center phase 1/2 trial by the end of 2016." Dr. Jenkins added, "2017 will be an important year for Dimension as we continue to leverage our expertise in liver biology, AAV gene therapy, and mammalian vector manufacturing to address metabolic diseases associated with the liver where there remains significant medical need."
Working capital increases sharply
Dimension Therapeutics, Inc. has recorded an increase in the working capital over the last year. It stood at $80.33 million as at Sep. 30, 2016, up 31.96 percent or $19.46 million from $60.88 million on Sep. 30, 2015. Current ratio was at 5.43 as on Sep. 30, 2016, down from 6.01 on Sep. 30, 2015.
Days sales outstanding went down to 30 days for the quarter compared with 47 days for the same period last year.
Debt increases substantially
Dimension Therapeutics, Inc. has witnessed an increase in total debt over the last one year. It stood at $6.72 million as on Sep. 30, 2016, up 355.25 percent or $5.25 million from $1.48 million on Sep. 30, 2015. Total debt was 6.27 percent of total assets as on Sep. 30, 2016, compared with 1.87 percent on Sep. 30, 2015.
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