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Eyenovia posts $3.4 million quarterly loss

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Eyenovia reported a net loss of $3.4 million, or $0.45 per share, in the first quarter of 2018 compared with a net loss of $1.1 million, or $0.49 per share, in the first quarter of 2017.

Research and development costs increased 130% from $0.9 million in 2017’s first quarter to $2.1 million in the current year, according to a press release.

General and administrative expenses increased 583% from $0.2 million to $1.3 million for the quarter.

Eyenovia had a cash balance of $27.6 million as of March 31.