Spark Therapeutics, Inc. (ONCE) saw its loss widen to $32.56 million, or $1.07 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $16.90 million, or $0.70 a share.
Revenue during the quarter was stable at $1.30 million, when compared with the previous year period.
Operating loss for the quarter was $33.13 million, compared with an operating loss of $16.96 million in the previous year period.
"During the last few months we have continued to execute on the completion of the BLA submission, as well as launch preparation activities, for voretigene neparvovec," said Jeffrey D. Marrazzo, chief executive officer. "We also continued to make progress across a range of clinical and preclinical programs addressing serious genetic diseases, including inherited retinal diseases, liver-mediated diseases such as hemophilia and neurodegenerative diseases, leveraging the strength of our validated gene therapy platform. We remain on track to initiate a clinical trial of SPK-8011 for hemophilia A this year, to continue to readout clinical data over the next several months from the clinical trials of SPK-9001 for hemophilia B and to readout initial clinical data on SPK-CHM for choroideremia."
Working capital increases sharply
Spark Therapeutics, Inc. has recorded an increase in the working capital over the last year. It stood at $285.12 million as at Sep. 30, 2016, up 45.71 percent or $89.44 million from $195.68 million on Sep. 30, 2015. Current ratio was at 12.82 as on Sep. 30, 2016, up from 11.51 on Sep. 30, 2015.
Days sales outstanding went down to 69 days for the quarter compared with 77 days for the same period last year.
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