Aimmune Therapeutics, Inc. (AIMT) saw its loss widen to $25.08 million, or $0.55 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $16.01 million, or $0.39 a share.
The company has not recorded any revenues for the current as well as previous quarter.
Operating loss for the quarter was $25.30 million, compared with an operating loss of $16.16 million in the previous year period.
We began 2017 with great momentum, having achieved significant clinical and corporate milestones last year, particularly in the fourth quarter," said Aimmune chief executive officer Stephen Dilly, M.B.B.S., Ph.D. "In November 2016, we completed global enrollment of our ongoing Phase 3 PALISADE trial, which lays a strong foundation for our AR101 Phase 3 development program in peanut allergy. That same month, we also announced a strategic investment of $145 million by Nestle Health Science while retaining full global rights to AR101 and our pipeline. As a result, we began 2017 in a strong financial position with approximately $283 million in cash and investments. Our resources and efforts in 2017 will continue to be focused largely on execution of our Phase 3 program for AR101. We continue to expect to have top-line data from PALISADE available around year-end 2017 and submit regulatory filings in the U.S. and Europe in late 2018. Our current capital resources fund us through these events."
Working capital increases
Aimmune Therapeutics, Inc. has recorded an increase in the working capital over the last year. It stood at $240.23 million as at Dec. 31, 2016, up 24.89 percent or $47.87 million from $192.36 million on Dec. 31, 2015. Current ratio was at 21.98 as on Dec. 31, 2016, down from 38.73 on Dec. 31, 2015.
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