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ISTA Pharmaceuticals Reports Second Quarter 2008 Financial Results
Date:8/7/2008

IRVINE, Calif., Aug. 7 /PRNewswire-FirstCall/ -- ISTA Pharmaceuticals, Inc. (Nasdaq: ISTA), today reported financial results for the three months ended June 30, 2008. ISTA reported net revenue of $17.8 million for the quarter ended June 30, 2008, a 31% increase over the same quarter of 2007. The net loss for the second quarter ended June 30, 2008, was $8.5 million (or $0.26 per share), as compared with a net loss of $8.7 million (or $0.32 per share) for the same period in 2007.

"Xibrom sales continued to grow strongly during the second quarter. As our commercial business grows, ISTA's presence in the ophthalmic community is further enhanced and physicians are excited about the products we plan to bring to them in the coming years," stated Vicente Anido, Jr., Ph.D., President and Chief Executive Officer of ISTA Pharmaceuticals. "With regard to our R&D pipeline, we have made solid progress over the past few months and have a number of upcoming catalysts. We expect to file the Bepreve NDA in the second half of this year, as we've successfully completed the human ocular safety studies. We also recently completed enrollment of two Phase III studies which will support an early 2009 sNDA filing for Xibrom 0.09% as a once-daily treatment for pain and inflammation associated with cataract surgery. In addition, we are working towards completing the additional T- Pred work required by the FDA for the testing of tobramycin and the pK study on the prednisolone component of the formulation. We expect to complete these additional T-Pred studies late this year or early 2009. Finally, we expect to announce in the second half of 2008 top-line data results from our additional ecabet sodium Phase II study that we initiated earlier this year."

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SOURCE ISTA Pharmaceuticals, Inc.
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