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Eleven Biotherapeutics reports net income, revenue increases in third quarter

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Eleven Biotherapeutics reported a net income of $19.5 million, or $0.95 per basic share and $0.91 per diluted share, in the third quarter compared with a net loss of $9.7 million, or $0.50 per basic and diluted share, in the same quarter of 2015, according to a press release.

Quarterly revenue was $28.7 million compared with $0.1 million a year ago. The increase was attributed to revenue from a license agreement with Roche.

Research and development costs were down from $6.7 million in the third quarter of 2015 to $2.8 million, which was attributed to decreases in isunakinra-related development expenses and EBI-031-related development expenses.

General and administrative expenses were up from $2.7 million in the third quarter of 2015 to $6.4 million.