Juno Therapeutics, Inc. (JUNO) saw its loss widen to $82.20 million, or $0.79 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $71.14 million, or $0.72 a share. On the other hand, adjusted net loss for the quarter narrowed to $73.65 million, or $0.71 a share from a loss of $77.54 million or $0.78 a share, a year ago. Revenue during the quarter surged 97.72 percent to $19.33 million from $9.78 million in the previous year period.
Operating loss for the quarter was $84.32 million, compared with an operating loss of $79.90 million in the previous year period.
"In the first quarter 2017, we made significant progress with our lead program, JCAR017, and we look forward to presenting updated data in DLBCL at ASCO," said Hans Bishop, Juno’s President and Chief Executive Officer. "We also continue to advance our pipeline more broadly with eleven product candidates now in human testing. Already this year, we have initiated a number of trials, including a BCMA CAR T, a CD19-directed 4-1BBL armored CAR, a fully-human CD19 CAR T, a combination trial with JCAR014 and durvalumab, and a combination trial with JCAR014 and ibrutinib. With up to 20 ongoing trials by year end, we expect to gain additional insights that may lead to product candidates that can deliver long-term durable remissions for patients in need."
Working capital declines
Juno Therapeutics, Inc. has witnessed a decline in the working capital over the last year. It stood at $656.93 million as at Mar. 31, 2017, down 22.65 percent or $192.36 million from $849.28 million on Mar. 31, 2016. Current ratio was at 6.36 as on Mar. 31, 2017, down from 8.96 on Mar. 31, 2016.
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