Aerie Pharmaceuticals, Inc. (AERI) saw its loss widen to $29.32 million, or $0.87 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $20.38 million, or $0.76 a share. On the other hand, adjusted net loss for the quarter widened to $24.04 million, or $0.72 a share from a loss of $16.96 million or $0.64 a share, a year ago. The company has not recorded any revenues for the current as well as previous quarter.
Operating loss for the quarter was $28.76 million, compared with an operating loss of $19.95 million in the previous year period.
"We are off to a great start in 2017, with over $230 million in cash and investments, our RhopressaTM NDA resubmitted, and our readouts from Rocket 4 and Mercury 2 on track for the second quarter of this year. We also look forward to commencing our first European clinical trial for RoclatanTM, known as Mercury 3, in mid-2017," said Vicente Anido, Jr., Ph.D., chairman and chief executive officer.
Working capital increases sharplyAerie Pharmaceuticals, Inc. has recorded an increase in the working capital over the last year. It stood at $218.32 million as at Dec. 31, 2016, up 79.97 percent or $97.01 million from $121.31 million on Dec. 31, 2015. Current ratio was at 12.27 as on Dec. 31, 2016, up from 8.09 on Dec. 31, 2015.
Debt remains almost stable
Total debt of Aerie Pharmaceuticals, Inc. remained almost stable for the quarter at $123.54 million, when compared with the last year period. Long-term debt of Aerie Pharmaceuticals Inc remained almost stable for the quarter at $123.54 million, when compared with the last year period. Total debt was 49.76 percent of total assets as on Dec. 31, 2016, compared with 77.45 percent on Dec. 31, 2015. Debt to equity ratio was at 1.17 as on Dec. 31, 2016, down from 6.56 as on Dec. 31, 2015. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
