EyeGate posts decreased quarterly loss
EyeGate Pharmaceuticals reported a net loss of $3.124 million in the third quarter of 2018 compared with a net loss of $4.140 million in the third quarter of 2017, according to a press release.
Revenues increased from $0.075 million to $0.315 million in the quarter, which the company attributed to milestone payments from Bausch Health Companies.
Research and development costs were down from $3.176 million in 2017’s third quarter to $2.260 million this year, mostly due to decreases in clinical activity for EGP-437 trials.
General and administrative expenses increased from $1.039 million to $1.233 million for the quarter.
The company had cash and cash equivalents totaling $9.9 million as of Sept. 30.