Cascadian Therapeutics (CASC) Reports Q1 Loss of $0.30

Cascadian Therapeutics (NASDAQ: CASC) reported Q1 EPS of ($0.30), versus ($0.81) reported last year.

Cash, cash equivalents and investments totaled $136.1 million as of March 31, 2017, compared to $62.8 million at December 31, 2016, an increase of $73.3 million, or 116.7 percent. The increase was primarily due to the result of net proceeds of $88.0 million from the Company’s January 2017 financing offset by cash used to fund operations of $14.6 million.

2017 Financial Outlook

Cascadian Therapeutics expects operating expenses in 2017 to be slightly higher than in 2016, primarily due to an increase in activities related to the ongoing worldwide HER2CLIMB pivotal trial. Cash used in operations for 2017 is expected to be approximately $50.0 million to $54.0 million.

For earnings history and earnings-related data on Cascadian Therapeutics (CASC) click here.

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