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Ocata reports net loss of $7.2 million in second quarter

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Ocata Therapeutics reported a net loss of $7.2 million, or $0.20 per share, in the second quarter compared with a net loss of $16.1 million, or $0.55 per share, in the same quarter of 2014, according to a press release.

Research and development expenses increased 14% to $3 million, and general and administrative expenses increased 13% to $2.3 million.

The increase in research and development expenses was attributed to preparation for upcoming clinical trials, the release said.