Aradigm Corporation (ARDM) Announces Third Quarter 2016 Financial Results
11/9/2016 12:44:36 PM
HAYWARD, Calif.--(BUSINESS WIRE)--Aradigm Corporation (NASDAQ: ARDM) (the “Company”) today announced financial results for the third quarter and nine months ended September 30, 2016.
Third Quarter 2016 Financial Results
The Company recorded $50,000 in revenue in the third quarter of 2016 compared with $4.7 million in revenue in the third quarter of 2015. The reduction in revenue occurred because the Company utilized in prior periods the full amount of the $65 million of Grifols-funded budget provided under the inhaled ciprofloxacin collaboration arrangement for funding the bronchiectasis program.
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