GTx, Inc. (GTXI) swung to a net loss for the quarter ended Mar. 31, 2017. The company has made a net loss of $6.25 million, or $ 0.39 a share in the quarter, against a net profit of $2.11 million, or $0.15 a share in the last year period. The company has not recorded any revenues for the current as well as previous quarter.
Operating loss for the quarter was $6.28 million, compared with an operating loss of $6.08 million in the previous year period.
"We look forward to several important data milestones during this year. This includes top-line results which we expect to announce in the third quarter of this year from an ongoing Phase 2 trial of enobosarm in women with advanced, ER+, AR+ breast cancer and from our clinical trial to treat postmenopausal women with SUI. We also continue to generate interest in the SARD program, which is focused on developing a novel treatment for advanced prostate cancer." said Robert J. Wills, Ph.D., executive chairman of GTx.
Working capital drops significantly
GTx, Inc. has witnessed a decline in the working capital over the last year. It stood at $13.99 million as at Mar. 31, 2017, down 40.55 percent or $9.54 million from $23.54 million on Mar. 31, 2016. Current ratio was at 3.94 as on Mar. 31, 2017, down from 8.80 on Mar. 31, 2016.
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