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TearLab reports $8.1 million net loss in second quarter

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TearLab reported a net loss of $8.1 million, or $0.24 per share on a non-diluted basis, in the second quarter compared with a net loss of $5.4 million, or $0.16 per share on a non-diluted basis, in the same quarter of 2014, according to a press release.

Net revenues were reported at $6.3 million in the second quarter, a 27% increase compared with $5 million in the same quarter of 2014.

The company also announced that the March 2015 term loan agreement with CRG, in which TearLab secured up to $35 million in borrowing capacity, has been amended. TearLab now has the option of accessing a second tranche of $10 million funding through November 2015, the release said. In exchange, TearLab granted CRG 5-year warrants allowing it to purchase up to 350,000 common shares of TearLab at $5 per share.