Navidea Biopharmaceuticals, Inc (NAVB) saw its loss widen to $3.88 million, or $0.02 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $2.51 million, or $0.02 a share. Revenue during the quarter dropped 21.85 percent to $3.36 million from $4.29 million in the previous year period. Gross margin for the quarter expanded 367 basis points over the previous year period to 91.67 percent. Operating margin for the quarter stood at negative 72.52 percent as compared to a negative 60.57 percent for the previous year period.
Operating loss for the quarter was $2.43 million, compared with an operating loss of $2.60 million in the previous year period.
Appointed Michael M. Goldberg, M.D., as President and Chief Executive Officer and Eric K. Rowinsky, M.D., as Chairman of the Board of Directors
Working capital turns negative
Working capital of Navidea Biopharmaceuticals, Inc has turned negative to $59.04 million on Dec. 31, 2016 from positive $6.39 million on Dec. 31, 2015. Current ratio was at 0.15 as on Dec. 31, 2016, down from 2.03 on Dec. 31, 2015.
Debt remains almost stable
Navidea Biopharmaceuticals, Inc has witnessed an increase in total debt over the last one year. It stood at $61.60 million as on Dec. 31, 2016, up 0.85 percent or $0.52 million from $61.08 million on Dec. 31, 2015. Total debt was 494.31 percent of total assets as on Dec. 31, 2016, compared with 408.16 percent 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
