Senomyx (SNMX) saw its loss widen to $3.67 million, or $0.08 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $2.95 million, or $0.07 a share.
Revenue during the quarter plunged 32.98 percent to $4.20 million from $6.27 million in the previous year period. Operating margin for the quarter stood at negative 87.72 percent as compared to a negative 47.24 percent for the previous year period.
Operating loss for the quarter was $3.69 million, compared with an operating loss of $2.96 million in the previous year period.
"Senomyx is off to a good start in 2017 and is poised for continued commercial growth and R&D success," stated John Poyhonen, president and chief executive officer of the Company. "During 2016, we grew commercial revenues, advanced our lead natural high intensity sweetener into the development phase, and extended a key collaborative agreement while transitioning it into a non-exclusive license arrangement," Poyhonen commented.
Debt comes downSenomyx has recorded a decline in total debt over the last one year. It stood at $1.57 million as on Dec. 31, 2016, down 12.28 percent or $0.22 million from $1.79 million on Dec. 31, 2015. Total debt was 6.62 percent of total assets as on Dec. 31, 2016, compared with 5.50 percent on Dec. 31, 2015. Debt to equity ratio was at 0.11 as on Dec. 31, 2016, up from 0.09 as on Dec. 31, 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
