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news.ISTA Pharmaceuticals has posted total revenues of $36.72m for the first quarter ended 31 March 2011, an increase of 30%, compared to $28.3m for the same period in 2010.
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The company reported a net loss of $84.07m or $2.49 loss per diluted share, compared to a net income of $476,000 or $0.01per diluted share, for the same period last year.
ISTA Pharma‘s loss from operations was $9.77m, as compared to $4.65m for the same period prior year.
ISTA Pharma president and CEO Vicente Anido said their results for the first quarter reflect product revenue growth over the prior year quarter, driven by the success with the launch and market acceptance of Bromday, a once-daily prescription eye drop for the treatment of postoperative inflammation and reduction of ocular pain in patients who have undergone cataract extractions, along with Bepreve.
"As we expected and guided, we had a loss for the first quarter, but anticipate we will be profitable on an adjusted cash basis for the full year 2011," Anido said.