Neuralstem, Inc. (CUR) saw its loss widen to $21.07 million, or $2.53 a share for the year ended Dec. 31, 2016. In the previous year period, the company reported a loss of $20.90 million, or $2.99 a share.
Revenue during the year surged 55.96 percent to $0.02 million from $0.01 million in the previous year.
Operating loss for the year was $20.64 million, compared with an operating loss of $19.16 million in the previous year.
"We are pleased with the execution over the past year that includes securing a strategic investment, beating guided clinical timelines and providing additional transparency to the markets," commented Rich Daly, chairman and chief executive officer. "Fiscal 2017 is poised to be another strong year for Neuralstem as we approach our largest milestone to date, the results of our Phase 2 major depressive disorder (MDD) clinical study in the third quarter. We are committed to continuing to explore NSI-189 mechanism of action (MOA) and potential therapeutic benefits in additional indications."
Working capital increases sharply
Neuralstem, Inc. has recorded an increase in the working capital over the last year. It stood at $13.57 million as at Dec. 31, 2016, up 93.72 percent or $6.57 million from $7.01 million on Dec. 31, 2015. Current ratio was at 2.85 as on Dec. 31, 2016, up from 2.08 on Dec. 31, 2015.
Days sales outstanding went down to 334 days for the year compared with 989 days for the same period last year.
Debt comes down significantly
Neuralstem, Inc. has recorded a decline in total debt over the last one year. It stood at $3.71 million as on Dec. 31, 2016, down 53.26 percent or $4.22 million from $7.93 million on Dec. 31, 2015. Total debt was 16.39 percent of total assets as on Dec. 31, 2016, compared with 52.68 percent on Dec. 31, 2015. Debt to equity ratio was at 0.33 as on Dec. 31, 2016, down from 1.60 as on Dec. 31, 2015.
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