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Eleven Biotherapeutics reports $6.1 million loss in first quarter

Issue: July 25, 2017

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Eleven Biotherapeutics reported a net loss of $6.1 million, or $0.25 per share, in the first quarter of 2017 compared with a net loss of $7.6 million, or $0.39 per share, in the same period of 2016.

The company had revenues of $0.4 million in the first quarter compared with $0.2 million last year, according to a press release.

Research and development costs were $2.9 million in the quarter compared with $4.6 million in 2016’s first quarter. The decrease was attributed to lower drug development expenses.

Cash and cash equivalents totaled $20.3 million as of March 31 compared with $25.3 million as of Dec. 31, 2016.