Aerie Pharmaceuticals, Inc (AERI) saw its loss narrow to $17.96 million, or $0.69 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $23.81 million, or $0.81 a share. On the other hand, adjusted net loss for the quarter widened to $19.72 million, or $0.67 a share from a loss of $14.64 million or $0.56 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 $17.37 million, compared with an operating loss of $23.32 million in the previous year period.
During the third quarter, we also significantly added to our financial resources, with over $255 million of cash and investments at quarter-end. Further, regarding our upcoming RhopressaTM NDA resubmission, we expect to add the positive topline results from both Mercury 1 and Rocket 4 as substantive supportive data to what will already be a robust filing,” said Vicente Anido, Jr., Ph.D., Chairman and Chief Executive Officer.
Working capital increases sharply
Aerie Pharmaceuticals, Inc Inc has recorded an increase in the working capital over the last year. It stood at $242.44 million as at Sep. 30, 2016, up 75.59 percent or $104.37 million from $138.07 million on Sep. 30, 2015. Current ratio was at 18.20 as on Sep. 30, 2016, up from 8.46 on Sep. 30, 2015. Debt remains almost stable
Aerie Pharmaceuticals, Inc Inc has recorded a decline in total debt over the last one year. It stood at $123.46 million as on Sep. 30, 2016, down 0.63 percent or $0.79 million from $124.25 million on Sep. 30, 2015. Aerie Pharmaceuticals Inc has recorded a decline in long-term debt over the last one year. It stood at $123.46 million as on Sep. 30, 2016, down 0.63 percent or $0.79 million from $124.25 million on Sep. 30, 2015. Total debt was 46.43 percent of total assets as on Sep. 30, 2016, compared with 70.90 percent on Sep. 30, 2015. Debt to equity ratio was at 0.96 as on Sep. 30, 2016, down from 3.83 as on Sep. 30, 2015.
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