Cyclacel Pharmaceuticals, Inc. (CYCCP) saw its loss narrow to $2.84 million, or $0.69 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $3.37 million, or $1.18 a share.

Revenue during the quarter plunged 34.67 percent to $0.28 million from $0.42 million in the previous year period.

Operating loss for the quarter was $3.17 million, compared with an operating loss of $3.86 million in the previous year period.

"Following the outcome of the SEAMLESS study and a review of our clinical development pipeline we will concentrate our resources on our transcriptional regulation and DNA damage response clinical stage programs," said Spiro Rombotis, president and chief executive officer of Cyclacel. "While we will discuss the SEAMLESS data with regulators after completing ongoing analyses, we are looking ahead with a clear strategy. We are dedicating our efforts and resources to progressing our CYC065 CDK inhibitor program and the promise in our BRCA positive stratified, sapacitabine and CDK inhibitor study. We are encouraged by the support received from various stakeholders, the recent success of commercial stage CDK inhibitors and early clinical data from our own CDK inhibitor trials."