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TearLab reports $19.9 million loss in 2016

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TearLab reported a net loss of $4.3 million, or $0.81 per share, in the fourth quarter of 2016, compared with a net loss of $8.9 million, or $0.26 per share, in 2015’s fourth quarter, according to a company press release.

For the full year the company reported a net loss of $19.9 million, or $4.29 per share, compared with a net loss of $33.2 million, or $9.86 per share, in 2015.

Revenue was up 11% in 2016 to $28 million and up 5% in the fourth quarter to $7.1 million.

TearLab also announced it will seek CE marking for a second inflammation biomarker, to be combined with osmolarity, to make up the first commercial test card on its next-generation platform.