PharmAthene, Inc. (PIP) saw its loss widen to $2.20 million, or $0.03 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $1.23 million, or $0.02 a share.
Revenue during the quarter dropped 20.05 percent to $0.80 million from $1.01 million in the previous year period.
Operating loss for the quarter was $3.18 million, compared with an operating loss of $1.25 million in the previous year period.
Working capital increases PharmAthene, Inc. has recorded an increase in the working capital over the last year. It stood at $16.06 million as at Mar. 31, 2017, up 18.98 percent or $2.56 million from $13.50 million on Mar. 31, 2016. Current ratio was at 8.19 as on Mar. 31, 2017, up from 6.11 on Mar. 31, 2016. Days sales outstanding went up to 197 days for the quarter compared with 132 days for the same period last year.
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