NewLink Genetics Corporation (NLNK) saw its loss narrow to $13.51 million, or $0.46 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $21.57 million, or $0.75 a share.
Revenue during the quarter surged 66 percent to $12.70 million from $7.65 million in the previous year period.
Operating loss for the quarter was $13.97 million, compared with an operating loss of $14.82 million in the previous year period.
"NewLink Genetics has two separate and distinct IDO pathway inhibitors in clinical development. In 2017, we look forward to advancing clinical validation of IDO as an immuno-oncology target," said Charles J. Link, Jr. MD, Chairman, Chief Executive Officer and Chief Scientific Officer. "Our priorities going into 2017 are clear. For GDC-0919, we anticipate continued progress in the clinic in collaboration with our partner Genentech/Roche. We believe indoximod will emerge as one of the leading IDO pathway inhibitor programs in 2017."
Working capital drops significantly
NewLink Genetics Corporation has witnessed a decline in the working capital over the last year. It stood at $130.01 million as at Dec. 31, 2016, down 32.74 percent or $63.29 million from $193.30 million on Dec. 31, 2015. Current ratio was at 4.43 as on Dec. 31, 2016, down from 14.03 on Dec. 31, 2015.
Debt comes down
NewLink Genetics Corporation has recorded a decline in total debt over the last one year. It stood at $0.28 million as on Dec. 31, 2016, down 22.55 percent or $0.08 million from $0.37 million on Dec. 31, 2015. Total debt was 0.16 percent of total assets as on Dec. 31, 2016, compared with 0.17 percent on Dec. 31, 2015.
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