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AGTC posts $5.2 million quarterly loss

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Applied Genetic Technologies Corporation reported a net loss of $5.2 million in the quarter ended Dec. 31, 2017, compared with a net income of $1.8 million in the same quarter of 2016, according to a press release.

The company had total revenue of $4.9 million in the quarter compared with $10.9 million the previous year.

Quarterly research and development costs increased from $6 million in 2016 to $7.7 million in 2017, which was partially attributed to increased spending on the company’s clinical programs and increased employee-related expenses.

General and administrative expenses were up from $2.7 million to $3.4 million in the quarter.

AGTC reported cash, cash equivalents and investments of $119.7 million as of Dec. 31.