Regulus Therapeutics Inc. (RGLS) saw its loss widen to $19.52 million, or $0.37 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $13 million, or $0.25 a share.
Revenue during the quarter plunged 89.06 percent to $0.20 million from $1.86 million in the previous year period.
Operating loss for the quarter was $19.19 million, compared with an operating loss of $13.34 million in the previous year period.
"Our focus in the third quarter included the advancement of the RG-012 development program and addressing the clinical hold for RG-101 while expanding the pre-clinical pipeline," said Paul Grint, M.D., president and chief executive officer of Regulus. "We continue to be excited with the progress of our research programs, and look forward to sharing an update at our first R&D day on December 6th."
Working capital drops significantly
Regulus Therapeutics Inc. has witnessed a decline in the working capital over the last year. It stood at $89.75 million as at Sep. 30, 2016, down 26.44 percent or $32.25 million from $122 million on Sep. 30, 2015. Current ratio was at 7.86 as on Sep. 30, 2016, down from 9.24 on Sep. 30, 2015.
Days sales outstanding went up to 139 days for the quarter compared with 23 days for the same period last year.
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
