HAYWARD, Calif.--(BUSINESS WIRE)--Aradigm Corporation (NASDAQ: ARDM) (the “Company”) today announced financial results for the fourth quarter and full year ended December 31, 2016.
Fourth Quarter 2016 Results
The Company recorded $125,000 in revenue in the fourth quarter of 2016 compared with $35,000 in revenue in the fourth quarter of 2015. Total operating expenses for the fourth quarter of 2016 were $7.2 million, compared with total operating expenses of $9.4 million for the fourth quarter of 2015. The decrease in operating expenses was primarily due to lower research and development expenses related to the Pulmaquin® inhaled ciprofloxacin Phase 3 clinical trials. The Company’s net loss for the fourth quarter of 2016 was $7.9 million, or $0.54 per share, compared with a net loss of $9.4 million, or $0.63 per share, for the same period in 2015.
