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Kala Pharmaceuticals reports quarterly loss

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Kala Pharmaceuticals posted a net loss of $14.6 million, or $0.60 per share, in the second quarter of 2018 compared with a net loss of $11 million, or $9.30 per share, in 2017’s second quarter.

General and administrative expenses for the quarter were $7.2 million compared with $1.6 million last year, attributed to increases in employee-related costs, legal, accounting and finance activities, and commercial-related costs, according to a press release.

Research and development costs decreased from $8.1 million in 2017’s second quarter to $7.4 million this year. This was attributed to a decrease in external costs relating to phase 3 clinical trials of Inveltys and KPI-121 0.25%.

The company reported $91.2 million in cash as of June 30.