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Second Sight posts quarterly net loss
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Second Sight Medical Products reported a net loss of $8.5 million, or $0.12 per share, in the third quarter of 2018 compared with a net loss of $6.7 million, or $0.12 per share, in 2017’s third quarter, according to a press release.
Net sales totaled $2.2 million for the quarter, an increase from 2017’s third quarter sales of $1.6 million.
General and administrative expenses decreased from $2.5 million to $2.3 million for the quarter, while selling and marketing expenses increased from $2.4 million to $3 million. Research and development expenses were $2.7 million compared with $1.8 million in 2017’s third quarter, and clinical and regulatory expenses increased from $0.6 million to $1 million.
The company had $5 million in cash and cash equivalents as of Sept. 30.