Seres Therapeutics, Inc (MCRB) saw its loss widen to $18.69 million, or $0.46 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $14.62 million, or $0.38 a share.
Revenues for the quarter were $13.02 million. The company has not recorded any revenues for the previous year period.
Operating loss for the quarter was $19.10 million, compared with an operating loss of $14.56 million in the previous year period.
“Our focus has been on completing data analyses related to the previously reported SER-109 Phase 2 study results in patients with multiply recurrent C. difficile infection,” said Roger Pomerantz, M.D., president, chief executive officer and chairman of Seres, “We expect to complete these efforts by year end and subsequently plan to meet with the FDA to discuss our findings and proposed plans for further SER-109 clinical development.”
Working capital declines
Seres Therapeutics, In has witnessed a decline in the working capital over the last year. It stood at $176.56 million as at Sep. 30, 2016, down 18.83 percent or $40.96 million from $217.52 million on Sep. 30, 2015. Current ratio was at 6.54 as on Sep. 30, 2016, down from 45.89 on Sep. 30, 2015.
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