September 13, 2017
1 min read
Save

AGTC reports $0.4 million income in fiscal year 2017

You've successfully added to your alerts. You will receive an email when new content is published.

Click Here to Manage Email Alerts

We were unable to process your request. Please try again later. If you continue to have this issue please contact customerservice@slackinc.com.

Applied Genetics Technologies Corporation reported a net loss of $3.2 million in the fourth quarter of the 2017 fiscal year compared with a net income of $2.7 million in 2016’s fourth quarter.

For the 2017 fiscal year, which ended June 30, the company reported a net income of $0.4 million compared with a net loss of $1.4 million in 2016, according to a press release.

AGTC reported $8.3 million in fourth-quarter revenue and $39.5 million in revenue for the full year compared with $12.1 million in 2016’s fourth quarter and $47.4 million in 2016’s fiscal year.

Research and development costs rose from $6.8 million in the fourth quarter of 2016 to $8.3 million in 2017, while those costs for the year decreased from $39.4 million to $26.2 million.

General and administrative expenses were $2.8 million for the quarter and $11.4 million for the year compared with $2.9 million and $10.1 million, respectively.