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EyePoint posts net loss for fourth quarter, full year

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EyePoint Pharmaceuticals reported a net loss of $34.4 million, or $0.62 per share, in its fourth quarter compared with a net loss of $6.1 million, or $0.16 per share, in the fourth quarter a year ago.

For the full fiscal year, which ended June 30, the company had a net loss of $53.2 million, or $1.15 per share, compared with a net loss of $18.5 million, or $0.52 per share, for the previous year, according to a press release.

Revenues for the quarter were $715,000 compared with $701,000 a year ago, while revenues for the full year were $3 million compared with $7.5 million for the previous year.

Operating expenses for the quarter increased from $6.8 million to $10.5 million, which included $4.8 million in research and development costs, $1.5 million in sales and marketing expenses, and $4.2 million in general and administrative expenses. For the full year, operating expenses increased from $26.1 million to $29.2 million.

The company had $38.8 million in cash and cash equivalents as of June 30.