FIBROGEN INC (FGEN) saw its loss narrow to $24.15 million, or $0.38 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $45.10 million, or $0.74 a share. Revenue during the quarter surged 54.07 percent to $30.10 million from $19.54 million in the previous year period.
Operating loss for the quarter was $22.10 million, compared with an operating loss of $43.77 million in the previous year period.
"The completion of enrollment in our Phase 3 roxadustat studies in China is a significant milestone for FibroGen and our first-in-class small molecule treatment for anemia. We are gratified to be able to advance this promising new therapeutic for patients with chronic kidney disease," said Thomas B. Neff, FibroGens chief executive officer. "In collaboration with our world-class partners, AstraZeneca and Astellas, we have substantially expanded the reach of our global development programs, while efficiently managing use of our resources."
Working capital increasesFIBROGEN INC has recorded an increase in the working capital over the last year. It stood at $191.72 million as at Sep. 30, 2016, up 10.45 percent or $18.13 million from $173.58 million on Sep. 30, 2015. Current ratio was at 4.11 as on Sep. 30, 2016, up from 3.94 on Sep. 30, 2015. Days sales outstanding went down to 30 days for the quarter compared with 46 days for the same period last year.
Debt remains almost stable
Total debt of FIBROGEN INC remained almost stable for the quarter at $97.38 million, when compared with the last year period. Long-term debt of FIBROGEN remained almost stable for the quarter at $97.38 million, when compared with the last year period. Total debt was 20.03 percent of total assets as on Sep. 30, 2016, compared with 19.43 percent on Sep. 30, 2015. Debt to equity ratio was at 0.49 as on Sep. 30, 2016, up from 0.41 as on Sep. 30, 2015. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
