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ISTA Pharmaceuticals Reports Third Quarter 2008 Financial Results
Date:10/30/2008

- Reaffirms 2008 Revenue Guidance of $75 to $82 million -

IRVINE, Calif., Oct. 30 /PRNewswire-FirstCall/ -- ISTA Pharmaceuticals, Inc. (Nasdaq: ISTA), an ophthalmic pharmaceutical company, today reported financial results for the third quarter ended September 30, 2008. ISTA reported net revenue for the three months ended September 30, 2008, of $21.7 million, a 36% increase over net revenue for the three months ended September 30, 2007. On a quarter-over-quarter basis, net revenue increased 22% over the second quarter of 2008.

"Our growth has moved ISTA up to the fifth largest branded ophthalmic pharmaceutical company position, surpassing Bausch & Lomb. Xibrom and Istalol are leading the way as the two fastest-growing ophthalmic products in the US, both outpacing the growth of their markets," stated Vicente Anido, Jr., Ph.D., President and Chief Executive Officer of ISTA Pharmaceuticals. "During the third quarter, three of our longest-term shareholders provided us with a $65 million credit facility. This financing allowed us to repay our convertible debt, and it gives us the flexibility to continue to grow our business."

"We are making solid progress with our R&D pipeline. This quarter, we expect to report preliminary results from our Xibrom once-daily Phase III studies and, assuming positive results, we expect to file the supplemental NDA in early 2009. We are planning to file the Bepreve NDA before the end of this year. Assuming acceptance and timely review by the FDA, we anticipate receiving approval to market Bepreve in the second half of 2009. With regard to ecabet sodium, our candidate for the treatment of dry eye, we plan to report preliminary Phase II results this quarter. These results will provide the clinica
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SOURCE ISTA Pharmaceuticals, Inc.
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