Albireo Pharma, Inc. (ALBO) saw its loss widen to $6.67 million, or $1.06 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $3.24 million, or $12.20 a share. Operating loss for the quarter was $6.10 million, compared with an operating loss of $2.62 million in the previous year period.
"In the first part of 2017, we continued to make significant progress toward our goal of bringing A4250 to children suffering from progressive familial intrahepatic cholestasis (PFIC). We were delighted to have had clinical data from our Phase 2 study in children with cholestatic liver disease selected for a recent oral presentation at The International Liver Congress™ 2017," said Ron Cooper, president and chief executive officer of Albireo. "Following consultation with regulatory authorities in both the United States and Europe, we are currently finalizing the design of our Phase 3 program for A4250, which we plan to initiate in the second half of 2017."
Working capital drops significantly
Albireo Pharma, Inc. has witnessed a decline in the working capital over the last year. It stood at $12.26 million as at Mar. 31, 2017, down 61.59 percent or $19.66 million from $31.93 million on Mar. 31, 2016. Current ratio was at 2.35 as on Mar. 31, 2017, down from 15.45 on Mar. 31, 2016.
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