Aimmune Therapeutics, Inc. (AIMT) saw its loss widen to $25.87 million, or $0.52 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $15.52 million, or $0.37 a share.
The company has not recorded any revenues for the current as well as previous quarter.
Operating loss for the quarter was $26.34 million, compared with an operating loss of $15.70 million in the previous year period.
"We continue to be very pleased with progress in PALISADE, our core Phase 3 trial of AR101 for peanut allergy, and we look forward to expanding our Phase 3 program with initiation of the RAMSES trial in the second quarter and the ARTEMIS trial around mid-year," said Aimmune chief executive officer Stephen Dilly, M.B.B.S., Ph.D. "At AAAAI earlier this year, we reported interesting new data from the PALISADE screening population, which support our thesis for RAMSES whereby omitting the oral food challenge may further improve tolerability of AR101 during up-dosing. The level of interest and enthusiasm in our clinical trials remains very high, and we are pleased that most of the study sites in PALISADE will also participate in RAMSES."
Working capital increases sharply
Aimmune Therapeutics, Inc. has recorded an increase in the working capital over the last year. It stood at $238.65 million as at Mar. 31, 2017, up 32.65 percent or $58.74 million from $179.91 million on Mar. 31, 2016. Current ratio was at 24.34 as on Mar. 31, 2017, down from 34.82 on Mar. 31, 2016.
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