Seres Therapeutics Inc. (MCRB) saw its loss widen to $91.58 million, or $2.30 a share for the year ended Dec. 31, 2016. In the previous year period, the company reported a loss of $54.78 million, or $2.33 a share. Revenues for the year were $21.77 million. The company has not recorded any revenues for the previous year.
Operating loss for the year was $92.84 million, compared with an operating loss of $54.86 million in the previous year.
"Seres has made important progress across all of our microbiome clinical programs," said Roger J. Pomerantz, M.D., president, chief executive officer and chairman of Seres. "Following the completion of our comprehensive analyses of the SER-109 study results, we had very productive discussions with the FDA, in which we gained highly positive and constructive guidance on further SER-109 clinical development. If the new ECOSPOR III study achieves a persuasive clinical effect and addresses FDA requirements, we would expect to be able to file for SER-109 product registration."
Working capital declines
Seres Therapeutics Inc. has witnessed a decline in the working capital over the last year. It stood at $167.91 million as at Dec. 31, 2016, down 14.63 percent or $28.78 million from $196.69 million on Dec. 31, 2015. Current ratio was at 6.51 as on Dec. 31, 2016, down from 19.01 on Dec. 31, 2015.
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