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Ocular Therapeutix reports $7.6 million in first quarter net loss

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Ocular Therapeutix reported a net loss of approximately $7.6 million, or $0.35 per share, in the first quarter 2015 compared with a loss of $7 million, or $2.45 per share, in the first quarter of the previous year, according to a press release.

Total revenue was $0.4 million compared with approximately $0.03 million in the first quarter 2014.

Operating expenses totaled $7.5 million in the first quarter 2015 vs. $6.9 million in the first quarter of the previous year.

The company also reported that it intends on submitting a new drug application to the FDA later this year for OTX-DP (sustained-release dexamethasone) to treat postoperative ocular pain. A subsequent submission will cover postop ocular inflammation. In addition, Dextenza has been given conditional acceptance as the brand name for OTX-DP.