Ignyta, Inc (RXDX) saw its loss widen to $23.29 million, or $0.56 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $14.62 million, or $0.49 a share.
The company has not recorded any revenues for the current as well as previous quarter.
Operating loss for the quarter was $22.77 million, compared with an operating loss of $14.29 million in the previous year period.
“During the third quarter, we advanced our lead program, entrectinib, with continued successful execution of STARTRK-2, our global pivotal Phase 2 clinical trial now open at more than 100 sites in 12 countries,” said Jonathan Lim, M.D., Chairman and Chief executive officer of Ignyta. “This global clinical footprint helps ensure that entrectinib, a novel, orally available, CNS-penetrant tyrosine kinase inhibitor targeting tumors that harbor TRK, ROS1, or ALK fusions, is made available to patients for clinical development on a worldwide basis. Further, by expanding our collaboration with the European Organisation for Research and Treatment of Cancer, or EORTC, we hope to identify additional patients across Europe who may be eligible for STARTRK-2.”
Working capital declines
Ignyta, Inc has witnessed a decline in the working capital over the last year. It stood at $115.33 million as at Sep. 30, 2016, down 10.18 percent or $13.07 million from $128.40 million on Sep. 30, 2015. Current ratio was at 9.26 as on Sep. 30, 2016, down from 9.75 on Sep. 30, 2015.
Debt comes down marginally
Ignyta, Inc has recorded a decline in total debt over the last one year. It stood at $29.54 million as on Sep. 30, 2016, down 2.96 percent or $0.90 million from $30.44 million on Sep. 30, 2015. Total debt was 15.56 percent of total assets as on Sep. 30, 2016, compared with 17.36 percent on Sep. 30, 2015. Debt to equity ratio was at 0.24 as on Sep. 30, 2016, up from 0.23 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
