Sage Therapeutics (SAGE) saw its loss widen to $37.80 million, or $1.15 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $24.04 million, or $0.84 a share.
The company has not recorded any revenues for the current as well as previous quarter.
Operating loss for the quarter was $38.06 million, compared with an operating loss of $24.08 million in the previous year period.
"The recent EMA Scientific Advice provides Sage with a clear regulatory path forward in SRSE in the E.U. and is important for Sage as we plan for top-line results from the Phase 3 STATUS Trial in SRSE, expected in the first half of next year, while continuing to lay the groundwork for a potential near-term commercial launch of SAGE-547," said Jeff Jonas, M.D., chief executive officer of Sage.
Working capital increases sharplySage Therapeutics has recorded an increase in the working capital over the last year. It stood at $412.36 million as at Sep. 30, 2016, up 109.12 percent or $215.17 million from $197.19 million on Sep. 30, 2015. Current ratio was at 19.47 as on Sep. 30, 2016, down from 20.16 on Sep. 30, 2015.
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
