Cyclacel Pharmaceuticals, Inc. (CYCCP) saw its loss narrow to $1.56 million, or $0.38 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $3.04 million, or $1.04 a share.
The company has not recorded any revenues for the current quarter. However, it has reported a revenue of $0.14 million for the previous year period.
Operating loss for the quarter was $2.69 million, compared with an operating loss of $3.74 million in the previous year period.
"Our development priorities going forward are our transcriptional regulation and DNA damage response clinical stage programs," said Spiro Rombotis, president and chief executive officer of Cyclacel. "In the Phase 1 study of our CYC065 CDK inhibitor in patients with solid tumors, we are close to establishing the recommended Phase 2 dose. Biomarker analysis shows evidence of target engagement and preliminary clinical activity. In parallel, we are reviewing with investigators study designs to test CYC065 in combination with approved agents in hematological indications. We look forward to reporting our progress with these programs and the outcome of our final analysis of SEAMLESS data."
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