Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
28 February, 2024 18:55 IST
CytRx Corp first-quarter loss narrows on a YOY basis
Source: IRIS | 12 May, 2017, 01.53PM

Powered by IRIS XBRL Data
Rating: NAN / 5 stars.
Comments  |  Post Comment


CytRx Corporation (CYTR) saw its loss narrow to $11.04 million, or $0.10 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $12.64 million, or $0.19 a share.

The company has not recorded any revenues for the current as well as previous quarter.

Operating loss for the quarter was $9.75 million, compared with an operating loss of $12.11 million in the previous year period.

"To date, 2017 has been marked by several key achievements, but most importantly, by obtaining clarity from the U.S. Food and Drug Administration (FDA) regarding our soft tissue sarcomas (STS) program and the establishment of a definitive regulatory path toward approval for aldoxorubicin as a treatment for patients with this rare, difficult to treat disease," said Steven A. Kriegsman, CytRx's chairman and chief executive officer. "Our Phase 3 trial investigating aldoxorubicin in patients with second-line STS concluded and the data will be used to support our filing strategy." "Finally, we look forward to presenting the more detailed and updated global Phase 3 STS results to the medical community at the upcoming 2017 American Society of Clinical Oncology (ASCO) Annual Meeting. This Phase 3 trial, along with the combination trial of aldoxorubicin with ifosfamide/mesna, continue to build upon the body of clinical data supporting aldoxorubicin's potential as a new and better treatment for patients with STS," Mr. Kriegsman commented.


Working capital drops significantly
CytRx Corporation has witnessed a decline in the working capital over the last year. It stood at $30.12 million as at Mar. 31, 2017, down 44.17 percent or $23.82 million from $53.94 million on Mar. 31, 2016. Current ratio was at 2.46 as on Mar. 31, 2017, down from 3.86 on Mar. 31, 2016.
 
Debt moves up marginally
CytRx Corporation has witnessed an increase in total debt over the last one year. It stood at $
24.07 million as on Mar. 31, 2017, up 2.65 percent or $0.62 million from $23.45 million on Mar. 31, 2016. Total debt was 45.51 percent of total assets as on Mar. 31, 2017, compared with 31.12 percent on Mar. 31, 2016. Debt to equity ratio was at 1.64 as on Mar. 31, 2017, up from 0.70 as on Mar. 31, 2016.
 

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: [email protected]
 Post Comment
Name Email
Comment
Security Code type    into this box
US Equities
Innodata Isogen swings to first-quarter loss on a YOY basis - 10-Jul-2017 03:29
Echelon Corp first-quarter loss widens on a YOY basis - 09-Jul-2017 20:32
Diversicare Healthcare Services swings to first-quarter profit on a YOY basis - 09-Jul-2017 19:51
Dextera Surgical third-quarter loss widens on a YOY basis - 09-Jul-2017 18:20
Open Text Corp third-quarter earnings plunge by 68.72 percent on a YOY basis - 09-Jul-2017 15:17
NAPCO Security Technologies third-quarter earnings decline by 12.19 percent on a YOY basis - 09-Jul-2017 14:31
Patriot National Bancorp first-quarter profit jumps 165.75 percent on a YOY basis - 09-Jul-2017 13:29
Patriot National Bancorp first-quarter profit jumps 165.75 percent on a YOY basis - 09-Jul-2017 13:29
Alaska Communications Systems Group swings to first-quarter loss on a YOY basis - 09-Jul-2017 12:00
Delcath Systems first-quarter loss widens on a YOY basis - 08-Jul-2017 18:33
Edgewater Technology first-quarter loss widens on a YOY basis - 08-Jul-2017 16:21
more...
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer