Neuralstem, Inc. (CUR) saw its loss widen to $7.57 million, or $0.68 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $6.61 million, or $0.93 a share.
Operating loss for the quarter was $4.23 million, compared with an operating loss of $6.23 million in the previous year period.
"This is an exciting time for the company as we approach a large clinical milestone of NSI-189 Phase 2 major depressive disorder (MDD) study results, which remain ahead of schedule for the third quarter of this year," commented Rich Daly, chairman and CEO. "We also continue to strengthen our balance sheet and have extended our cash runway an additional quarter into late 2018."
Working capital increases sharply
Neuralstem, Inc. has recorded an increase in the working capital over the last year. It stood at $12.12 million as at Mar. 31, 2017, up 986.05 percent or $11.01 million from $1.12 million on Mar. 31, 2016. Current ratio was at 3.40 as on Mar. 31, 2017, up from 1.15 on Mar. 31, 2016.
Days sales outstanding went down to 937 days for the quarter compared with 1392 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 $2.53 million as on Mar. 31, 2017, down 63.91 percent or $4.48 million from $7.01 million on Mar. 31, 2016. Total debt was 13.51 percent of total assets as on Mar. 31, 2017, compared with 68.76 percent on Mar. 31, 2016.
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