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Ocular Therapeutix posts quarterly loss
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Ocular Therapeutix reported a net loss of $13.8 million, or $0.40 per share, in the first quarter of 2018 compared with a net loss of $16 million, or $0.58 per share, in 2017’s first quarter, according to a press release.
The company posted $340,000 in revenue in the quarter from sales of ReSure sealant compared with $475,000 in 2017’s first quarter.
Research and development costs increased from $6.8 million to $8.2 million, led by expenses for development of the company’s hydrogel platform technology and portfolio of drug product candidates. General and administrative expenses increased from $3.3 million to $4.8 million, while selling and marketing expenses decreased from $6 million to $0.7 million, attributed to a previous restructuring.
Ocular Therapeutix had $62.9 million in cash and cash equivalents as of March 31.