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.
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.
