Xencor, Inc. (XNCR) saw its loss widen to $14.64 million, or $0.31 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $6.40 million, or $0.16 a share.
Revenue during the quarter plunged 40.15 percent to $4.34 million from $7.25 million in the previous year period.
Operating loss for the quarter was $15.52 million, compared with an operating loss of $6.73 million in the previous year period.
"We have been focused on advancing our clinical development pipeline across the breadth of our portfolio," said Bassil Dahiyat, Ph.D., president and chief executive officer of Xencor. "Today, we are pleased to announce data from our Phase 1 trial of subcutaneously administered XmAb5871, which support use of this formulation as a simpler, more flexible treatment option for patients and doctors."
Working capital decreases marginally
Xencor Inc has witnessed a decline in the working capital over the last year. It stood at $59.21 million as at Mar. 31, 2017, down 2.28 percent or $1.38 million from $60.60 million on Mar. 31, 2016. Current ratio was at 1.55 as on Mar. 31, 2017, down from 2.77 on Mar. 31, 2016.
Days sales outstanding went up to 72 days for the quarter compared with 4 days for the same period last year.
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
