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Inotek reports $10.7 million first-quarter net loss

Issue: July 25, 2017

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Inotek Pharmaceuticals reported a $10.7 million net loss in the first quarter of 2017 compared with a $10.1 million net loss in 2016’s first quarter, according to a press release.

Research and development costs decreased from $7.6 million in the first quarter of 2016 to $7.1 million, whereas general and administrative costs increased from $2.5 million to $2.9 million.

Cash, cash equivalents and short-term investments totaled $114.7 million as of March 31.