KemPharm, Inc. (KMPH) saw its loss widen to $9.95 million, or $0.68 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $9.20 million, or $0.64 a share. The company has not recorded any revenues for the current as well as previous quarter.
Operating loss for the quarter was $10.85 million, compared with an operating loss of $7.28 million in the previous year period.
"The fourth quarter of 2016 and early 2017 were highlighted by substantive progress across our clinical-stage programs, demonstrating the strength and potential of our Ligand Activated Therapy prodrug discovery platform and our product candidate pipeline," said Travis C. Mickle, Ph.D., president and chief executive officer of KemPharm. "During the fourth quarter we received clearance to initiate clinical testing of and reported positive proof-of-concept clinical data for KP415, our extended-release prodrug of methylphenidate for the treatment of attention deficit hyperactivity disorder (ADHD), as well as received both IND clearance and Fast Track status for KP201, our single-entity benzhydrocodone HCl immediate release abuse-deterrent prodrug for the treatment of acute pain. Additionally, in January 2017, we observed statistically significant pharmacokinetic (PK) and pharmacodynamic (PD) differences of abuse potential in our Phase 1 proof-of-concept intranasal study of KP511, our investigational prodrug of hydromorphone for the treatment of pain."
Working capital increases sharplyKemPharm, Inc. has recorded an increase in the working capital over the last year. It stood at $67.72 million as at Dec. 31, 2016, up 48.06 percent or $21.98 million from $45.74 million on Dec. 31, 2015. Current ratio was at 11.19 as on Dec. 31, 2016, up from 6.48 on Dec. 31, 2015.
Debt increases substantially
KemPharm, Inc. has witnessed an increase in total debt over the last one year. It stood at $91.33 million as on Dec. 31, 2016, up 315.77 percent or $69.36 million from $21.97 million on Dec. 31, 2015. Total debt was 107.59 percent of total assets as on Dec. 31, 2016, compared with 39.42 percent on Dec. 31, 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
