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pSivida records quarterly net loss of $2.6 million

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pSivida had a first-quarter net loss of $2.6 million compared with a $2.4 million loss in the same quarter a year ago, according to a press release.

Quarterly revenues were $553,000, down from $1.7 million in last year’s first quarter, while royalty income increased from $198,000 to $384,000.

The company’s research and development expenses decreased from $2.1 million last year to $1.5 million this year, while total operating expenses fell from $4.2 million to $3.1 million.

Alimera Sciences, pSivida’s licensee for Iluvien (sustained-release fluocinolone acetonide), plans a direct commercial launch of Iluvien for diabetic macular edema in three European Union countries in 2013.

Alimera also will resubmit the new drug application for Iluvien for DME to the U.S. Food and Drug Administration during the first quarter of 2013.