Karyopharm Therapeutics Inc. (KPTI) saw its loss narrow to $26.94 million, or $0.65 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $29.05 million, or $0.81 a share.
Revenue during the quarter surged 88 percent to $0.05 million from $0.02 million in the previous year period.
Operating loss for the quarter was $27.16 million, compared with an operating loss of $29.30 million in the previous year period.
"2016 marked a year of several key achievements for Karyopharm, including the rapid advancement of oral selinexor in relapsed or refractory multiple myeloma (MM), a disease for which we believe we have a path to regulatory approval," said Michael G. Kauffman, MD, PhD, Chief Executive Officer of Karyopharm. "To date, 2017 has brought several significant developments. Today we announced the planned development path for selinexor in diffuse large B-cell lymphoma (DLBCL), our second lead indication after MM."
Working capital drops significantly
Karyopharm Therapeutics Inc. has witnessed a decline in the working capital over the last year. It stood at $115.16 million as at Dec. 31, 2016, down 29.12 percent or $47.31 million from $162.47 million on Dec. 31, 2015. Current ratio was at 7.99 as on Dec. 31, 2016, down from 11.74 on Dec. 31, 2015.
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
