August 31, 2017
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TearLab reports $3.9 million quarterly loss
TearLab reported a net loss of $3.9 million, or $0.68 per share, for the second quarter of 2017, compared to a net loss of $4.3 million, or $0.97 per share, in the second quarter of 2016.
Net revenues were up from $6.9 million in 2016’s second quarter to $7 million this year, according to a company press release.
“In the second quarter of 2017, we continued to execute under our refocused commercial model and are encouraged with the progress made, which included sequential growth of 5% compared to the first quarter,” TearLab CEO Seph Jensen said in the release.
The company had cash and cash equivalents of $10.2 million as of June 30.
According to the release, the company anticipates the global launch of the TearLab Discovery system in 2018 and will seek necessary resources to maximize the launch.