Ignyta (RXDX) saw its loss widen to $40.16 million, or $0.96 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $25.49 million, or $0.79 a share.
The company has not recorded any revenues for the current as well as previous quarter.
Operating loss for the quarter was $39.62 million, compared with an operating loss of $25.01 million in the previous year period.
"We are excited by the continued advancement of our pipeline of precision medicine therapies for the benefit of patients with cancer, including the progress of STARTRK-2, the registration-enabling Phase 2 clinical trial of our lead product candidate, entrectinib, our novel, investigational, orally available, CNS-active tyrosine kinase inhibitor targeting tumors that harbor TRK, ROS1, or ALK fusions," said Jonathan Lim, M.D., chairman and chief executive officer of Ignyta.
Working capital decreases marginally Ignyta has witnessed a decline in the working capital over the last year. It stood at $86.94 million as at Mar. 31, 2017, down 2.12 percent or $1.88 million from $88.82 million on Mar. 31, 2016. Current ratio was at 5.14 as on Mar. 31, 2017, up from 4.02 on Mar. 31, 2016.
Debt remains almost stable Ignyta has recorded a decline in total debt over the last one year. It stood at $29.68 million as on Mar. 31, 2017, down 0.82 percent or $0.25 million from $29.92 million on Mar. 31, 2016. Total debt was 24.91 percent of total assets as on Mar. 31, 2017, compared with 17.07 percent on Mar. 31, 2016. Debt to equity ratio was at 0.51 as on Mar. 31, 2017, up from 0.27 as on Mar. 31, 2016. 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
