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Ocular Therapeutix quarterly loss decreases

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Ocular Therapeutix reported a net loss of $15 million, or $0.38 per share, in the third quarter of 2018 compared with a net loss of $15.6 million, or $0.54 per share, in 2017’s third quarter.

Revenues for the quarter totaled $0.5 million, driven exclusively by ReSure Sealant, according to a press release.

Selling and marketing expenses decreased from $3.2 million in 2017’s third quarter to $1.1 million this year, which was attributed to a reduction in pre-commercial activities due to a delay in the planned release of Dextenza (dexamethasone insert 0.4 mg).

Research and development costs increased from $8.1 million to $9.7 million for the quarter, while general and administrative expenses increased from $4.2 million to $4.4 million.

Ocular Therapeutix had $56.9 million in cash and cash equivalents as of Sept. 30.