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EyePoint posts quarterly loss

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EyePoint Pharmaceuticals reported a net loss of $11.6 million, or $0.12 per share, for the quarter ended Dec. 31, 2018, compared with a net loss of $5.8 million, or $0.13 per share, in the same quarter of 2017, according to a press release.

Operating expenses for the quarter increased from $6.7 million to $13.4 million. Research and development costs decreased from $4.3 million to $4.2 million, and general and administrative costs grew from $2.5 million to $4.7 million. Sales and marketing expenses for the quarter were $4.5 million compared with none in 2017.

Revenues for the quarter increased from $933,000 to $2.4 million, mostly due to $1.7 million from an upfront license fee from Ocumension Therapeutics.

The company had $45.3 million in cash and cash equivalents as of Dec. 31, 2018.