Dimension Therapeutics, Inc. (DMTX) saw its loss widen to $13.49 million, or $0.54 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $9.51 million, or $0.38 a share. Revenue during the quarter surged 64.01 percent to $3.62 million from $2.21 million in the previous year period.
Operating loss for the quarter was $13.53 million, compared with an operating loss of $9.54 million in the previous year period.
"We are disappointed with the outcome of our DTX101 program, addressing an important disease with significant unmet need; however, our Phase 1/2 open-label clinical study did not demonstrate an ability to achieve a minimum target product profile for continued development or future commercialization,” said Annalisa Jenkins, MBBS, FRCP, chief executive officer of Dimension. "We deeply appreciate the participation by the investigators and staff, patients and caregivers who all contributed to the conduct and execution of this Phase 1/2 clinical trial.” Further, Dimension remains committed to the hemophilia community through continued investment in the Company’s ongoing IND-enabling activities for DTX201 for hemophilia A, in collaboration with Bayer, and the follow-up of the six patients dosed with DTX101 in the Phase 1/2 clinical trial through an extension study that will monitor all patients for a total of five years."
Working capital drops significantly
Dimension Therapeutics, Inc. has witnessed a decline in the working capital over the last year. It stood at $52.75 million as at Mar. 31, 2017, down 50.23 percent or $53.24 million from $105.98 million on Mar. 31, 2016. Current ratio was at 4.03 as on Mar. 31, 2017, down from 8.09 on Mar. 31, 2016. Days sales outstanding went up to 31 days for the quarter compared with 29 days for the same period last year.
Debt increases substantially
Dimension Therapeutics, Inc. has witnessed an increase in total debt over the last one year. It stood at $6.08 million as on Mar. 31, 2017, up 411.26 percent or $4.89 million from $1.19 million on Mar. 31, 2016. Total debt was 7.78 percent of total assets as on Mar. 31, 2017, compared with 0.94 percent on Mar. 31, 2016. Debt to equity ratio was at 0.13 as on Mar. 31, 2017, up from 0.01 as on Mar. 31, 2016. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
