Chimerix (CMRX) saw its loss narrow to $14.96 million, or $0.32 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $37.84 million, or $0.82 a share.
Revenue during the quarter plunged 36.33 percent to $1.98 million from $3.11 million in the previous year period.
Operating loss for the quarter was $15.37 million, compared with an operating loss of $38.22 million in the previous year period.
"During 2016 we made considerable progress developing the optimal paths forward for oral brincidofovir for short course treatment and advancing intravenous brincidofovir into the clinic. These developments have positioned the Company well to achieve a number of milestones throughout 2017 that we believe will be instrumental in advancing brincidofovir in order to benefit patients fighting these serious viral infections," concluded Michelle Berrey, MD, MPH, president and chief executive officer.
Working capital increasesChimerix has recorded an increase in the working capital over the last year. It stood at $226.36 million as at Dec. 31, 2016, up 8.48 percent or $17.70 million from $208.66 million on Dec. 31, 2015. Current ratio was at 23.40 as on Dec. 31, 2016, up from 11.34 on Dec. 31, 2015.
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