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Second Sight reports quarterly loss

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Second Sight Medical Products reported a net loss of $9.8 million, or $0.17 per share, in the first quarter of 2018 compared with a loss of $7.5 million, or $0.16 per share, in 2017’s first quarter.

Net sales totaled $1 million in the quarter, equal to 2017’s first quarter sales, according to a press release.

General and administrative expenses increased from $2.7 million in 2017’s first quarter to $3.2 million in the first quarter of the current year. Research and development costs also increased, from $1.9 million to $2.5 million.

The company had $5 million in cash and cash equivalents as of March 31.