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ISTA Pharmaceuticals Reports Fourth Quarter and Full-Year 2007 Financial Results
Date:3/6/2008

illion and $37.4 million for the corresponding periods in 2006. The 2007 increase primarily resulted from higher sales and marketing expenses associated with the expansion of ISTA's sales force in early 2007. Stock-based compensation expenses included in SG&A for the fourth quarter and for the year ended December 31, 2007 were $0.8 million and $2.5 million, respectively.

The net loss for the fourth quarter and year ended December 31, 2007, was $9.9 million (or $0.30 per share) and $38.2 million (or $1.29 per share), respectively, compared with a net loss of $6.4 million (or $0.25 per share) and $38.4 million (or $1.48 per share) for the same periods in 2006. At December 31, 2007, ISTA had cash and short-term investments of $46.1 million.

2007 Corporate Highlights

-- Increased net revenue by 56% and 78% as compared to the fourth quarter

of 2006, and year ended December 31, 2006, respectively

-- Filed an NDA with the FDA for Xibrom QD (once-daily) in December of

2007 after announcing, earlier in the year, positive Phase III results

for Xibrom QD as a treatment for inflammation, pain, and photophobia

following cataract surgery

-- Announced statistically significant Phase II/III study results for

Bepreve in treating ocular itching and clinical improvement in redness

and initiated both the Bepreve ocular safety study and the second

Phase III study

-- Announced positive results from the ecabet sodium Phase IIb study for

the treatment of dry eye syndrome

-- Successfully completed $36.7 million financing through the private

placement of 5.25 million shares of common stock with institutional

accredited investors at a purchase price of $7.00 per share

-- Expanded pipeline in allergy treatments by licensing exclusive North

American rights to nasal dosage forms of bepotastine, an

investigation
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SOURCE ISTA Pharmaceuticals, Inc.
Copyright©2008 PR Newswire.
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