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InSite Vision extends debt maturity date

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ALAMEDA, Calif. — InSite Vision has extended the maturity date of $6.3 million in debt until February 15, 2007, giving the company enough liquidity to fund operations through the end of January 2007, InSite announced in a press release.

The extension will give InSite "additional flexibility to support our goal of achieving the commercialization of AzaSite [1% azithromycin in the DuraSite drug-delivery vehicle] in 2007," a company official said in the release.

The maturity date may be further extended to March 31, 2007, upon consent of the debt's principal holders and the company, according to the release.