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28 February, 2024 19:03 IST
Xenon Pharmaceuticals first-quarter loss widens on a YOY basis
Source: IRIS | 29 May, 2017, 06.41PM

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Xenon Pharmaceuticals (XENE) saw its loss widen to $7.52 million, or $0.43 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $3.26 million, or $0.23 a share.      

Revenue during the quarter plunged 97.34 percent to $0.02 million from $0.60 million in the previous year period.

Operating loss for the quarter was $7.99 million, compared with an operating loss of $5.66 million in the previous year period.

Dr. Simon Pimstone, Xenons president and chief executive officer, said, "We continue to leverage our expertise in human genetics and ion channel targets to advance our neurology-focused product candidates and identify potential new therapeutic assets. In addition to our two partnered programs in pain and our proprietary XEN901 epilepsy program, we recently expanded our ion channel, neurology-focused pipeline to include XEN1101, a Kv7 potassium channel opener for the treatment of epilepsy."

Working capital remains almost stableWorking capital of Xenon Pharmaceuticals remained almost stable for the quarter at $55.55 million, when compared with the previous year period. Current ratio was at 16.47 as on Mar. 31, 2017, down from 20.29 on Mar. 31, 2016.

Days sales outstanding went up to 886 days for the quarter compared with 53 days for the same period last year.

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