- Company Provides R&D Pipeline Update -
IRVINE, Calif., March 6 /PRNewswire-FirstCall/ -- ISTA Pharmaceuticals, Inc. (Nasdaq: ISTA), today reported financial results for the year ended December 31, 2007. ISTA reported net revenue of $58.9 million for the year ended December 31, 2007, a 78% increase over the full-year 2006 results of $33.0 million. Net revenue in the fourth quarter of 2007 increased 56% over the fourth quarter of 2006.
"2007 was a year of success and challenges. On the commercial front, we more than doubled our Xibrom revenues in 2007 as compared to 2006. Xibrom has significant momentum in the ophthalmic market, and this growth is expected to continue in 2008. Istalol continues to gain share on its branded competitor in a highly genericized therapeutic category," stated Vicente Anido Jr., Ph.D., President and Chief Executive Officer of ISTA Pharmaceuticals. "On the clinical front, we announced positive results from ISTA's Phase II/III Bepreve study and committed ourselves to accelerating the remainder of its clinical development program, which is now fully enrolled. With the in-licensing of the rights to nasal bepotastine, we also have added another key asset to ISTA's pipeline. We believe nasal bepotastine will be a cornerstone of our future growth, as we explore ISTA's commercial options outside ophthalmology."
Dr. Anido continued, "As Xibrom is our lead product, we completed the
clinical development for Xibrom QD and filed the NDA for this once-daily
formulation at the end of last year. In reviewing the file, the FDA
requested additional data comparing Xibrom QD to the currently marketed
Xibrom twice- daily formulation, and ISTA has therefore administratively
withdrawn the clinical se
|SOURCE ISTA Pharmaceuticals, Inc.|
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