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Ocular Therapeutix posts $15.6 million quarterly loss
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Ocular Therapeutix reported a net loss of $15.6 million, or $0.54 per share, in the third quarter of 2017 compared with a net loss of $9.6 million, or $0.39 per share, in 2016’s third quarter.
Revenue for the quarter was $0.5 million, attributed to sales of ReSure sealant, according to a company press release.
Total costs and operating expenses for the quarter were $15.7 million compared with $9.7 million a year ago. The increase was attributed to an initiative to enhance operations and reduce expenses surrounding the delayed launch of Dextenza (dexamethasone insert), as well as personnel expenses and facility costs.
General and administrative expenses rose from $2.6 million to $4.2 million, while research and development costs increased from $5.7 million in 2016’s third quarter to $8.1 million this year.
The company had cash and cash equivalents of $51.2 million as of Sept. 30.