AUG 19, 2016
Comprehensive Ophthalmology, Cornea/External Disease
Ocular Therapeutix reported a net loss of $11.4 million for the second quarter of 2016, despite an increase in revenue from its chief product, ReSure Sealant.
The decrease corresponds to a reduction of $0.46 per share, similar to the loss of $0.45 per share seen in the same quarter last year, ended June 30, 2015.
The company cited growing operating costs of $11.5 million – up from $10.1 million last year – as the cause. The money went primarily towards R&D of pipeline products and the phase 3 trial for Dextenza, an intracanalicular insert for treatment of postoperative ocular pain.
Sales of ReSure generated $441,000 in the second quarter, a 4-fold increase from the 2015 equivalent time period.