VistaGen Therapeutics Inc (VTGN) saw its loss widen to $2.64 million, or $0.34 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $2.15 million, or $1.95 a share. Operating loss for the quarter was $2.64 million, compared with an operating loss of $2.14 million in the previous year period.
"We are excited about our progress during the last quarter, with several key advances related to our MDD-focused programs for AV-101, as well as potential regenerative medicine and drug rescue applications of our cardiac stem cell technology. Following productive discussions with the FDA last quarter, our team and key advisors have been working diligently to complete the diverse regulatory and technical activities necessary to support the planned launch of our Phase 2b study of AV-101 next quarter, a study we believe has game-changing potential for the millions of patients who battle MDD every day with inadequate therapies," commented Shawn Singh, chief executive officer of VistaGen. "Also, our recent sublicense agreement with BlueRock Therapeutics was an important advance in our cardiac stem cell program while we remain primarily focused on our Phase 2 programs for AV-101. With potentially catalytic milestones in the coming quarters, we believe we are poised to unlock significant value for our shareholders throughout 2017," added Mr. Singh.
Working capital turns positive
Working capital of VistaGen Therapeutics Inc has turned positive to $3.90 million on Dec. 31, 2016 from negative $0.21 million on Dec. 31, 2015. Current ratio was at 3.08 as on Dec. 31, 2016, up from 0.90 on Dec. 31, 2015.
Debt comes down significantly
VistaGen Therapeutics Inc has recorded a decline in total debt over the last one year. It stood at $0.04 million as on Dec. 31, 2016, down 65.45 percent or $0.07 million from $0.10 million on Dec. 31, 2015. Total debt was 0.61 percent of total assets as on Dec. 31, 2016, compared with 5.19 percent 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
