Neuralstem, Inc. (CUR) saw its loss narrow to $5.22 million, or $0.05 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $5.64 million, or $0.06 a share.
Operating loss for the quarter was $4.92 million, compared with an operating loss of $5.20 million in the previous year period.
"This is an exciting time for Neuralstem, as we successfully continue to execute the new operational and clinical development strategy that was implemented in the beginning of the year," commented Rich Daly, chief executive officer. "The recent announcement of the $20 million strategic investment from Tianjin Pharmaceutical Holdings Co., Ltd. provides credibility for our technology and a healthy financial runway through 2017. Furthermore, we reached 50% enrollment for our NSI-189 Phase 2 study in major depressive disorder ahead of schedule, maintaining expected data results in the second half of 2017."
Working capital turns negative
Working capital of Neuralstem, Inc. has turned negative to $1.16 million on Sep. 30, 2016 from positive $12.09 million on Sep. 30, 2015. Current ratio was at 0.85 as on Sep. 30, 2016, down from 2.62 on Sep. 30, 2015.
Days sales outstanding went up to 1532 days for the quarter compared with 699 days for the same period last year.
Debt comes down significantly
Neuralstem, Inc. has recorded a decline in total debt over the last one year. It stood at $4.83 million as on Sep. 30, 2016, down 46.83 percent or $4.25 million from $9.08 million on Sep. 30, 2015. Total debt was 57.15 percent of total assets as on Sep. 30, 2016, compared with 42.96 percent on Sep. 30, 2015.
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