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QLT reports $6 million net loss in third quarter

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QLT posted a $6 million net loss, or $0.11 per share, in the third quarter compared with a $2.7 million net loss, or $0.05 per share, in the same quarter last year.

The larger operating loss was attributed to a non-recurring termination fee of $2.7 million received from InSite in 2015, a company press release said.

Quarterly research and development costs were up from $2.1 million in 2015 to $2.9 million this year, due to higher costs as QLT prepares a phase 3 pivotal trial for QLT091001.