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ISTA reports exponential growth in first quarter

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IRVINE, Calif. — ISTA Pharmaceuticals reported revenue of $5.5 million in the first quarter of 2006, up from about $600,000 in the same quarter last year, the company said in a press release. ISTA said the increase was due to sales of the company’s glaucoma medications and anti-inflammatory drug.

The glaucoma treatment Istalol (timolol) had net sales of $1.8 million during the first quarter, compared with $100,000 in the same time period last year, the company reported. Xibrom (bromfenac 0.09%), for the treatment of post-cataract inflammation and postoperative pain, posted sales of $2.9 million, compared with no sales in the first quarter last year. Xibrom was not launched until the second quarter of 2005.

Vitrase (ovine hyaluronidase), for the treatment of vitreous hemorrhage, posted net sales of $800,000, compared to $400,000 last year during the same time period.

Net loss for the company increased during the quarter, to $10.6 million from $8.2 million in the first quarter of 2005.