Portola Pharmaceuticals (PTLA) saw its loss narrow to $41.72 million, or $0.74 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $64.97 million, or $1.15 a share. Revenue during the quarter plunged 37.90 percent to $5.13 million from $8.26 million in the previous year period.
Operating loss for the quarter was $40.54 million, compared with an operating loss of $65.31 million in the previous year period.
"During the first quarter of 2017 we continued to focus on regulatory activities for betrixaban and AndexXaâ„¢. Our goal is to gain approval for both products this year in the United States and in 2018 in the European Union," said Bill Lis, chief executive officer of Portola. "Both are highly anticipated by the medical community because they are potentially life-saving medicines in indications where currently there are no approved therapies."
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