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EyeGate reports 2017 net loss of $13.2 million

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EyeGate Pharmaceuticals reported a net loss of $13.2 million in 2017 compared with a net loss of $13.3 million the previous year, according to a press release.

Research and development expenses increased from $8.4 million in 2016 to $10.3 million in 2017, which was attributed to an increase in clinical activity related to the phase 2b trial of its post-cataract surgery inflammation and pain treatment.

General and administrative expenses decreased by $1 million to $4.6 million for the year, due to lower professional fees.

Revenue totaled $0.408 million in 2017 vs. $0.669 million in 2016. It was attributed to collaboration revenue from U.S. government grants that support product development based on EyeGate’s CMHA-S platform technology, the release said.

The company had cash and cash equivalents of $7.8 million as of Dec. 31.