Sophiris Bio Inc. (SPHS) saw its loss widen to $2.62 million, or $0.09 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $2.24 million, or $0.13 a share.
The company has not recorded any revenues for the current as well as previous quarter.
Operating loss for the quarter was $2.58 million, compared with an operating loss of $2.09 million in the previous year period.
"We now have five clinical trial sites fully trained with additional sites coming onboard," said Randall E. Woods, president and chief executive officer of Sophiris. "The regulatory approval of the diluent is the last remaining box to check in the administrative work that enables the dosing of patients which we anticipate being able to do in the very near future."
Working capital increases sharply
Sophiris Bio Inc. has recorded an increase in the working capital over the last year. It stood at $25.61 million as at Mar. 31, 2017, up 757.23 percent or $22.63 million from $2.99 million on Mar. 31, 2016. Current ratio was at 23.77 as on Mar. 31, 2017, up from 2.05 on Mar. 31, 2016.
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