Dicerna Pharmaceuticals Inc (DRNA) saw its loss narrow to $14.20 million, or $0.68 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $15.69 million, or $0.76 a share.
Revenues for the quarter were $0.13 million. The company has not recorded any revenues for the previous year period.
Operating loss for the quarter was $14.24 million, compared with an operating loss of $15.75 million in the previous year period.
"While continuing to focus on our research and development activities during the first quarter, we announced a major $70.0 million convertible preferred stock financing, which subsequently closed on April 11, 2017," said Douglas Fambrough, Ph.D., president and chief executive officer of Dicerna. "The financing, led by Bain Capital Life Sciences and a syndicate of current and new investors, lends an additional level of validation to the potential of our proprietary GalXC™ RNAi technology platform. Furthermore, the funds, when combined with cash already on-hand, provide us with the necessary resources to execute our stated strategy, which includes pursuing the advancement of our core therapeutic programs."
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