Neurocrine Biosciences, Inc. (NBIX) saw its loss widen to $36.89 million, or $0.43 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $34.44 million, or $0.40 a share.
The company has not recorded any revenues for the current as well as previous quarter.
Operating loss for the quarter was $38.44 million, compared with an operating loss of $35.84 million in the previous year period.
"Our NDA for INGREZZATM in tardive dyskinesia was recently accepted by the FDA for Priority Review and we look forward to continuing our work with the FDA to potentially bring this important treatment option to patients and physicians," said Kevin Gorman, president and chief executive officer of Neurocrine Biosciences. "In addition, our partner AbbVie presented Phase III data for elagolix in endometriosis at the 72nd American Society for Reproductive Medicine Scientific Congress & Expo. The results from the Phase III Violet Petal and Solstice clinical trials demonstrate that elagolix has the potential to be an important treatment for women suffering from endometriosis."
Working capital declines
Neurocrine Biosciences, Inc. has witnessed a decline in the working capital over the last year. It stood at $331.22 million as at Sep. 30, 2016, down 8.74 percent or $31.74 million from $362.96 million on Sep. 30, 2015. Current ratio was at 13.42 as on Sep. 30, 2016, down from 19.31 on Sep. 30, 2015.
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