Ocular Therapeutix posts quarterly net loss

Ocular Therapeutix reported a net loss of $13.8 million, or $0.37 per share, in the second quarter of 2018 compared with a net loss of $18.7 million, or $0.64 per share, in the same time period of 2017.

Revenues were attributed to sales of ReSure sealant and totaled $0.6 million compared with $0.4 million a year ago, according to a company press release.

General and administrative costs for the quarter increased from $3.7 million in 2017 to $4.4 million in 2018, which was attributed to an increase in legal costs related to the defense of ongoing legal proceedings.

Selling and marketing expenses decreased from $6.8 million in 2017’s second quarter to $0.9 million in 2018, which was related to a reduction in pre-commercial activities as a result of a delay in the launch of Dextenza (dexamethasone insert 0.4 mg).

Research and development costs were $8.7 million in the quarter compared with $8.1 million in 2017’s second quarter.

The company had $56.8 million in cash and cash equivalents as of June 30.