Research Desk Line-up: Applied Genetic Technologies Post Earnings Coverage
LONDON, UK / ACCESSWIRE / September 25, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Aviragen Therapeutics, Inc. (NASDAQ: AVIR), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=AVIR, following the Company's reporting of its financial results on August 31, 2017, for the fourth quarter fiscal 2017 (Q4 FY17) and full year 2017 (FY17). The Atlanta, Georgia-based Company's net loss narrowed during the reported quarter. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:
Get more of our free earnings reports coverage from other constituents of the Biotechnology industry. Pro-TD has currently selected Applied Genetic Technologies Corporation (NASDAQ: AGTC) for due-diligence and potential coverage as the Company announced on August 08, 2017, its financial results for the quarter and fiscal year which ended on June 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Applied Genetic Technologies when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on AVIR; also brushing on AGTC. With the links below you can directly download the report of your stock of interest free of charge at:
In Q4 FY17, Aviragen's total revenue was $0.1 million compared to $0.6 million in Q4 FY16. The Company's revenues of Q4 FY16 consisted of royalties from Relenza amounting to $0.4 million and $0.2 million in non-cash royalty revenue related to certain royalty rights sold to HealthCare Royalty Partners III, L.P. The Company posted net loss of $5.9 million, or $0.16 loss per basic and diluted share, in Q4 FY17 compared to net loss of $7.1 million, or $0.18 loss per basic and diluted share, in the previous year's same period.
The pharmaceutical Company reported total revenue of $8.9 million in FY17 compared to $9.3 million in FY16. The decline in total revenues during the period is due to fall in royalty revenues from Relenza. Additionally, the Company's net loss widened to $29.4 million, or $0.76 loss per basic and diluted share, during FY17 from $25.4 million, or $0.66 loss per basic and diluted share, in FY16.
During the reported quarter, the Company spent $3.7 million on research and development, which came in lower than the $6.0 million incurred in Q4 FY16, primarily due to reduced clinical trial activity as two of the three Phase-2 clinical trials came to a close. Meanwhile, the Company's general and administrative expense increased to $2.0 million during Q4 FY17 from $1.2 million in Q4 FY16, due mostly to higher legal and professional fees. The Company posted loss from operations of $5.6 million in Q4 FY17 compared to loss from operations of $6.7 million in Q4 FY17.
Cash Flow & Balance Sheet
During the year ended June 30, 2017, the Company's net cash used by its operating activities was $30.0 million compared to net cash used by operating activities of $14.1 million in the year-ago same period. The Company's cash balance declined to $17.7 million as on June 30, 2017, from $49.7 million at the close of books on June 30, 2016. Furthermore, the Company has an accumulated deficit of $163.8 million as on June 30, 2017, compared to $134.3 million as on June 30, 2016.
On Friday, September 22, 2017, the stock closed the trading session at $0.65, climbing 4.00% from its previous closing price of $0.63. A total volume of 62.26 thousand shares have exchanged hands. Aviragen Therapeutics' stock price surged 11.88% in the last one month and 12.20% in the past three months. The stock currently has a market cap of $25.12 million.
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SOURCE: Pro-Trader Daily