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InSite loses $6.8 million in quarter, begins phase 3 study of BromSite

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InSite Vision reported a net loss of $6.754 million for the quarter that ended June 30, compared to a net loss of $2.8 million in the same quarter last year, according to a press release.

Quarterly revenues were about 40% lower than they were in the same period last year, while research and development expenses more than tripled.

“The first half of this year has been focused on clinical development execution,” Tim Ruane, chief executive officer of InSite, said in the release. “The phase 3 DOUBle clinical study of AzaSite Plus [ISV-502] and DexaSite [ISV-305] for the treatment of blepharitis is accruing ahead of schedule and we are preparing to initiate our phase 3 clinical trial of BromSite [bromfenac 0.075%] for postsurgical pain and inflammation.”

In a separate release, InSite announced that patient enrollment has started for the BromSite trial, which will enroll about 240 patients undergoing cataract surgery and will analyze the safety and efficacy of BromSite compared to the DuraSite vehicle alone.

Top-line results from the study are expected in late 2012 or early 2013, according to the release.