June 08, 2017
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TearLab reports $4.4 million quarterly net loss
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TearLab reported a net loss of $4.4 million, or $0.82 per share, in the first quarter of 2017, compared with a net loss of $7.3 million, or $2.14 per share, in the same quarter of 2016.
Net revenue for the first quarters of 2016 and 2017 were similar at $6.7 million this year and $6.8 million last year, according to a company press release.
Operating expenses decreased by 29% and operating losses were reduced by 46% compared with the same quarter last year.
Cash burn was reduced from $6.6 million to $2.4 million, according to the release.