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Kala’s second quarter net loss increases
Kala Pharmaceuticals reported a net loss of $23.8 million, or $0.70 per share, for the second quarter of 2019 compared with a net loss of $14.6 million, or $0.60 per share, for the same period a year ago, according to a press release.
Net product revenue was $2.1 million, related to sales of Inveltys (loteprednol etabonate ophthalmic suspension 1%), which launched in January. First quarter net product revenue was $1.4 million.
Selling, general and administrative expenses increased from $7.2 million a year ago to $17 million, which was attributed to hiring personnel, building the commercial organization and an increase in facility costs. Research and development costs decreased to $7.1 million compared with $7.4 million in 2018.
Kala had cash of $118 million as of June 30.