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ISTA Pharmaceuticals Reports Third Quarter 2010 Financial Results
Date:11/2/2010

IRVINE, Calif., Nov. 2, 2010 /PRNewswire-FirstCall/ -- ISTA Pharmaceuticals, Inc. (Nasdaq: ISTA), today reported financial results for the quarter ended September 30, 2010.  Third quarter 2010 net revenues were $42.0 million, an increase of 31% from the third quarter of 2009.  Excluding the recognition of one-time license revenue in the third quarter of 2009, net product revenues increased 44%.  Net loss for the third quarter ended September 30, 2010, was $23.5 million, or $0.70 per diluted share, compared to a net loss of $917,000, or $0.03 per diluted share, for the third quarter ended September 30, 2009.  Excluding non-cash warrant valuation adjustments and license revenue, net income for the third quarter of 2010 was $2.8 million, or $0.08 per diluted share compared to a loss of $0.4 million, or $0.01 per diluted share in the third quarter of 2009.

"These are exciting times at ISTA.  After a strong first half of the year, the third quarter demonstrates that we are on track for an equally strong second half.  Not only are we posting revenue growth for all four products and delivering improved operating profitability, we are achieving key new product pipeline milestones," stated Vicente Anido, Jr., Ph.D., President and Chief Executive Officer of ISTA.  "Most recently, we announced the U.S. Food and Drug Administration (FDA) approved BROMDAY™ (bromfenac ophthalmic solution) 0.09% (formerly known as XiDay), our once-daily formulation of bromfenac sodium ophthalmic solution for the treatment of postoperative inflammation and reduction of ocular pain in patients who have undergone cataract extraction.  We believe the introduction of the first and only once-daily non-steroidal anti-inflammatory (NSAID) prescription eye drop will help with treatment compliance and benefit patients recovering from cataract surgery.  Our sales forc
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SOURCE ISTA Pharmaceuticals, Inc.
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