Fibrocell Science, Inc (FCSC) saw its loss narrow to $15.29 million, or $0.39 a share for the year ended Dec. 31, 2016. In the previous year period, the company reported a loss of $34.45 million, or $0.85 a share. Revenue during the year dropped 27.85 percent to $0.36 million from $0.49 million in the previous year. Gross margin for the year stood at negative 96.34 percent as compared to a negative 46.75 percent for the previous year.
Operating loss for the year was $26.48 million, compared with an operating loss of $37.41 million in the previous year.
“We are pleased with the significant progress of our distinctive gene therapy candidates that have the potential to be transformative for patients suffering from rare and devastating genetic diseases of the skin and connective tissue,” said John Maslowski, Chief Executive Officer of Fibrocell. “We achieved a major milestone in the Phase I/II clinical trial of FCX-007, our product candidate for the treatment of Recessive Dystrophic Epidermolysis Bullosa (RDEB), upon dosing our first patient in the Phase I portion of the trial. In addition, we initiated a pre-clinical dose-ranging study for FCX-013, our gene therapy candidate for the treatment of linear scleroderma, and expect to follow with a toxicology/biodistribution study in the fourth quarter of 2017.”
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