Loxo Oncology, Inc. (LOXO) saw its loss widen to $24.53 million, or $0.96 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $11.60 million, or $0.59 a share. The company has not recorded any revenues for the current as well as previous quarter.
Operating income for the quarter was $24.94 million, compared with $11.75 million in the previous year period.
"We had a very productive first quarter. We fully enrolled our larotrectinib registrational program, announced a diagnostics collaboration with Roche, presented proof-of-concept clinical data in glioblastoma at the AACR Annual Meeting, and announced the acceptance of two oral presentations at the upcoming ASCO Annual Meeting," said Josh Bilenker, M.D., chief executive officer of Loxo Oncology. "For the upcoming quarter, we eagerly look forward to the larotrectinib presentations at ASCO and beginning the clinical development of LOXO-292, our highly selective RET kinase inhibitor."
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