Revenue Update on TearLab Corp(NASDAQ:TEAR)

TearLab Corp(NASDAQ:TEAR) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 3, 2016. Company reported revenue of $6.90M. Analysts estimated a revenue of $6.95M. Earnings per share were $-0.08. Analysts had estimated an EPS of $-0.08.

In a different note, Rodman & Renshaw said it Initiates Coverage on TearLab Corp, according to a research note issued on Jul 12, 2016. The shares have been rated ‘Buy’ by the firm.

TearLab Corp (TEAR) shares turned negative on Fridays trading session with the shares closing down -0.0003 points or -0.04% at a volume of 50,937. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $0.76. The peak price level was also seen at $0.76 while the days lowest was $0.72. Finally the shares closed at $0.7397. The 52-week high of the shares is $2.94 while the 52-week low is $0.58. According to the latest information available, the market cap of the company is $25 M.

Several Insider Transactions has been reported to the SEC. On Jun 1, 2016, Brock Wright (director) purchased 59,686 shares at $0.77 per share price.Also, On May 11, 2016, Wes Brazell (CFO) purchased 66,666 shares at $0.00 per share price.On May 11, 2016, Richard L Md Lindstrom (director) purchased 133,332 shares at $0.00 per share price, according to the Form-4 filing with the securities and exchange commission.

TearLab Corporation is an in-vitro diagnostic company. The Company has commercialized a tear testing platform the TearLab Osmolarity System that enables eye care practitioners to test for sensitive and specific biomarkers using nanoliters of tear film at the point-of-care. The Company is engaged in commercial manufacturing of the TearLab Osmolarity System. The Company’s wholly owned subsidiary TearLab Research Inc. develops technologies to enable eye care practitioners to test a range of biomarkers (chemistries metabolites (glucose) genes and proteins) at the point-of-care. The TearLab Osmolarity System measures tear film osmolarity for the diagnosis of Dry Eye Disease (DED). The TearLab Osmolarity System is an integrated testing system consisted of: the TearLab disposable the TearLab Pen and the TearLab Reader.

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