Global Blood Therapeutics, Inc.. (GBT) saw its loss widen to $23.33 million, or $0.60 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $16.60 million, or $0.56 a share.
The company has not recorded any revenues for the current as well as previous quarter.
Operating loss for the quarter was $23.72 million, compared with an operating loss of $16.72 million in the previous year period.
"We continue to make important progress advancing our lead product candidate, GBT440, across both our sickle cell disease (SCD) and idiopathic pulmonary fibrosis (IPF) indications," said Ted W. Love, M.D., president and chief executive officer of GBT. "We are focused on activating new clinical trial sites for our pivotal HOPE Study to support ongoing enrollment and look forward to highlighting preliminary results from our Phase 2a study of GBT440 in adolescents, 12-17 years old, at the Congress of the European Hematology Association (EHA). Additionally, we remain on track to report data from our ongoing studies supporting our hypoxemia program later this year."
Working capital increases sharply
Global Blood Therapeutics, Inc. has recorded an increase in the working capital over the last year. It stood at $233.57 million as at Mar. 31, 2017, up 86.79 percent or $108.53 million from $125.04 million on Mar. 31, 2016. Current ratio was at 16.84 as on Mar. 31, 2017, up from 11.88 on Mar. 31, 2016.
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