Opexa Therapeutics, Inc. (OPXA) saw its loss narrow to $2.01 million, or $0.28 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $2.79 million, or $0.42 a share.
Revenue during the quarter was stable at $0.73 million, when compared with the previous year period.
Operating loss for the quarter was $2 million, compared with an operating loss of $2.81 million in the previous year period.
"Over the past several years, Opexa has dedicated itself to developing therapies to treat patients with high unmet medical needs, such as those with secondary progressive multiple sclerosis," stated Neil K. Warma, President and Chief Executive Officer of Opexa. "We are extremely disappointed that the Abili-T trial did not meet the predefined endpoints, and we are evaluating strategic alternatives for the Company in order to determine the best path forward."
Working capital drops significantly
Opexa Therapeutics, Inc. has witnessed a decline in the working capital over the last year. It stood at $3.19 million as at Sep. 30, 2016, down 71.48 percent or $8 million from $11.19 million on Sep. 30, 2015. Current ratio was at 2.12 as on Sep. 30, 2016, down from 3.25 on Sep. 30, 2015.
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