Dicerna Pharmaceuticals, Inc. (DRNA) saw its loss narrow to $14.02 million, or $0.68 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $15.64 million, or $0.76 a share.

Revenues for the quarter was $0.13 million. The company has not recorded any revenues in the previous year period .

Operating loss for the quarter was $14.08 million, compared with an operating loss of $15.68 million in the previous year period.

"2016 was an important year for Dicerna as we completed the transition to our GalXC RNAi technology platform and focused our efforts squarely on driving the development of our GalXC pipeline programs," said Douglas M. Fambrough, Ph.D., president and chief executive officer of Dicerna. "The ability of GalXC to enable development of subcutaneously delivered RNAi therapeutics to silence any disease-causing gene in the liver provides substantial opportunities for growth. Our $70.0 million convertible preferred financing, announced today, to be led by Bain Capital Life Sciences and a syndicate of current and new investors, further supports the broad applicability of our GalXC RNAi technology and will be key to progressing our pipeline and strategic plan over the next two years."