Mirati Therapeutics (MRTX) saw its loss narrow to $17.85 million, or $0.73 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $21.91 million, or $1.13 a share.
The company has not recorded any revenues for the current as well as previous quarter.
Operating loss for the quarter was $18.09 million, compared with an operating loss of $22.12 million in the previous year period.
"As anticipated, 2017 will be an important and defining year for Mirati. Our single agent precision medicine programs and immuno-oncology combination programs are advancing and we remain on track to report key data in the second half of the year," said Charles M. Baum, M.D., Ph.D., president and chief executive officer. "We have made significant progress in our pre-clinical KRAS and LSD-1 programs and we are very encouraged by the data from these programs".
Working capital decreases marginallyMirati Therapeutics has witnessed a decline in the working capital over the last year. It stood at $96.64 million as at Mar. 31, 2017, down 2.43 percent or $2.41 million from $99.05 million on Mar. 31, 2016. Current ratio was at 9.57 as on Mar. 31, 2017, down from 10.13 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
