MyoKardia (MYOK) saw its loss widen to $9.23 million, or $0.35 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $5.46 million, or $2.78 a share. Revenue during the quarter was stable at $3.55 million, when compared with the previous year period.
Operating loss for the quarter was $9.26 million, compared with an operating loss of $5.42 million in the previous year period.
"MyoKardia continues to make significant progress in our mission to help people with genetic cardiomyopathies," said Tassos Gianakakos, chief executive officer. "In this last quarter, we advanced our pipeline of therapeutic candidates, including MYK-461 and MYK-491, and in October, we completed an equity financing to further support our precision medicine platform and product engine. For MYK-461, our recently initiated Phase 2 PIONEER-HCM study will generate data across a broad range of clinically important measurements in oHCM which we expect to significantly de-risk subsequent clinical studies."
Working capital increases sharplyMyoKardia has recorded an increase in the working capital over the last year. It stood at $65.67 million as at Sep. 30, 2016, up 45.08 percent or $20.41 million from $45.26 million on Sep. 30, 2015. Current ratio was at 6.38 as on Sep. 30, 2016, up from 3.27 on Sep. 30, 2015.
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