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First quarter revenues, net loss increase for OccuLogix

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TORONTO — OccuLogix reported net revenues of $404,000 during the first quarter of 2005, an increase from $55,000 in the first quarter of 2004, according to a press release. Net loss for the quarter was $3.3 million, increased from a net loss of $2.3 million during the first quarter of 2004, the release said.

Highlights for the company during the quarter included completion of a pivotal phase 3 trial using rheopheresis to treat the dry form of age-related macular degeneration. The company also received permission from U.S. regulators to begin a long-term efficacy protocol for the procedure.