Flex Pharma, Inc (FLKS) saw its loss narrow to $8.27 million, or $0.49 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $9.59 million, or $0.61 a share. Revenues for the quarter were $0.24 million. The company has not recorded any revenues for the previous year period. Gross margin for the quarter was at 67.49 percent.
Operating loss for the quarter was $8.35 million, compared with an operating loss of $9.70 million in the previous year period.
“Now that our IND is active for our ALS study, we are poised to expand our clinical program and will submit a protocol to the FDA to start a clinical trial of FLX-787 to treat patients with CMT neuropathy. With two Phase 2 clinical trials in ALS and CMT expected to initiate this summer in the US, together with our exploratory Phase 2 studies already underway in Australia, FLX-787 will be amongst the most advanced, novel compounds in the clinic for ALS and CMT,” stated Christoph Westphal, M.D., Ph.D., Chair and Chief executive officer of Flex Pharma. “Our efforts are focused on creating value by accelerating the development of FLX-787 to address the significant unmet medical need of patients suffering from debilitating cramps and spasms as a consequence of severe neurological diseases.”
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