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pSivida reports $2.4 million loss in quarter

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WATERTOWN, Mass. — Revenues more than tripled for pSivida in the third quarter as compared with the same quarter last year, but the company recorded a net loss of $2.4 million in the quarter, according to a press release.

"We have a very full plate with three clinical-stage product candidates for the treatment of back-of-the-eye diseases," Paul Ashton, PhD, pSivida president and CEO, said in the release. "Most advanced is Iluvien for diabetic macular edema being developed by our licensee Alimera Sciences. ... We are also independently developing a product to treat uveitis affecting the posterior segment of the eye and a product to treat glaucoma and ocular hypertension in collaboration with Pfizer."

Total revenues increased from $476,000 last year to $1.65 million this year, the release said. Total operating expenses of more than $4.19 million led to a loss of 12 cents per share, compared with 17 cents per share in the same period last year.