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AGTC posts first-quarter net loss of $0.8 million

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Applied Genetic Technologies Corporation reported a net loss of $0.8 million in the first quarter of 2017 compared with a net income of $2 million in the same period of 2016, the company announced in a press release.

Revenues for the quarter totaled $8.4 million compared with $12 million last year, and research and development costs decreased by $1.6 million to $6.3 million.

General and administrative expenses were up by $0.5 million to $2.9 million, mostly attributed to higher share-based compensation and employee-related costs.