Versartis Inc (VSAR) saw its loss widen to $27.34 million, or $0.92 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $20.38 million, or $0.69 a share.
The company has not recorded any revenues for the current as well as previous quarter.
Operating loss for the quarter was $27.42 million, compared with an operating loss of $20.52 million in the previous year period.
“Our achievements this past quarter further validate our robust development program for somavaratan and highlight the global demand for a long-acting treatment for growth hormone deficiency,” said Jay Shepard, Versartis’ president and chief executive officer. “Our recent strategic alliance with Teijin puts somavaratan in the hands of an experienced endocrine partner for commercialization in Japan and offers us strong economics over the life of the agreement. We also completed enrollment in our Phase 3 VELOCITY trial, with data expected in the third quarter of 2017, and have initiated the Phase 3 portion of our Japanese trial in pediatric GHD patients. These trials, in combination with the initiation of our pediatric “switch” study in 2017, will provide us with an extensive data package to support our efforts to gain approval and commercialize somavaratan globally.”
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