Radius Health (RDUS) saw its loss widen to $52.72 million, or $1.22 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $33.24 million, or $0.77 a share.
The company has not recorded any revenues for the current as well as previous quarter.
Operating loss for the quarter was $53.04 million, compared with an operating loss of $33.81 million in the previous year period.
"We continue to work closely with the U.S. Food and Drug Administration as we move towards the March 30, 2017 PDUFA for abaloparatide-SC for postmenopausal osteoporosis. Our highly experienced leadership is completing the build out of our commercial organization with seasoned talent who have demonstrated success across sales, marketing, reimbursement and distribution and are fully prepared to support a successful launch, pending favorable regulatory review," said Robert Ward, president and chief executive officer of Radius. "2017 will be a major inflection point for Radius, as we evolve towards a commercial company. We are confident that we are prepared for this change and have the talent, experience and resources required to deliver sustainable high performance."
Working capital drops significantlyRadius Health has witnessed a decline in the working capital over the last year. It stood at $302.08 million as at Dec. 31, 2016, down 34.20 percent or $157.04 million from $459.13 million on Dec. 31, 2015. Current ratio was at 10.23 as on Dec. 31, 2016, down from 22.68 on Dec. 31, 2015.
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