ic partners of their respective obligations under existing collaborations and licensing arrangements; the continued availability of third-party sourced products and raw materials on commercially reasonable terms, or at all; the continued availability of third-party reimbursement; the scope, validity, and enforceability of patents related to ISTA's products and technologies and the impact of patents and other intellectual property rights held by third parties; and such other risks and uncertainties as detailed from time to time in ISTA's public filings with the U.S. Securities and Exchange Commission, including but not limited to ISTA's Annual Report on Form 10-K for the year ended December 31, 2009, and Form 10-Q for the second quarter ended June 30, 2010.
Non-GAAP Financial Measures
ISTA believes the metric "net income excluding non-cash warrant valuation adjustments and license revenue" is a useful financial measure for investors in evaluating the company's performance for the periods presented. This metric, however, is not a measure of financial performance under accounting principles generally accepted in the United States (GAAP) and should not be considered a substitute for net income (loss) in accordance with GAAP and may not be comparable to similarly titled measures reported by other companies. For a reconciliation of net income (loss) to net income excluding non-cash warrant valuation adjustments and license revenue, see the table below.
ISTA Pharmaceuticals, Inc.Reconciliation of GAAP Net Income (Loss) to Adjusted Net Income (Loss)(In thousands)(unaudited)Three Months EndedNine Months EndedSeptember 30,September 30,2010200920102009Net (loss) income
(57,175)Gain (loss) on warrant valuation
-2,917-3,055Adjusted net (loss) income
(9,527)ISTA Pharmaceuticals, Inc.Condense
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