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QLT announces first quarter results for 2008
Date:4/25/2008

nd a 45% reduction in headcount, with planned future reductions as assets are divested.

Moving forward, QLT announced it will focus its ongoing business primarily on the Visudyne franchise and its clinical development programs related to its punctal plug delivery technology and its photodynamic therapy dermatology technology.

On January 18, the Company announced it had implemented a reduction in its overall headcount affecting approximately 115 people (or approximately 45%) at its Vancouver headquarters and its U.S. subsidiaries. The reduction in force was the first initiative undertaken by the Company as part of its strategic restructuring plan.

On March 17, QLT announced a positive U.S. Food and Drug Administration (FDA) action on Aczone. The Company announced that the FDA had completed its review of QLT USA's labeling supplement (sNDA) for Aczone and had removed the glucose-6-phosphate dehydrogenase (G6PD) screening and blood monitoring requirements.

On March 28, the Company announced that positive results from a Visudyne combination therapy study were reported at Annual Macula Society Conference. The results from an investigator-sponsored Phase II study, supported by QLT, in patients with subfoveal choroidal neovascularization (CNV) secondary to age-related macular degeneration (AMD) showed that a combination therapy of verteporfin (Visudyne) followed by bevacizumab (Avastin(R)) reduced, by half, the number of treatments required for study patients during the first six months to gain similar visual acuity compared to Avastin monotherapy.

On March 31, QLT announced the initiation of patient recruitment into its "CORE" study, a phase II trial being conducted by QLT's wholly-owned subsidiary, QLT Plug Delivery, Inc. ("QPD"), to evaluate the preliminary efficacy and safety of its latanoprost punctal plug delivery system for the treatment of glaucoma and ocular hypertension.

UPCOMING EVENTS

- May 1, The Mor
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SOURCE QLT Inc.
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