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pSivida reports quarterly net loss of $2.6 million

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pSivida reported a net loss of $2.6 million for its second quarter ended Dec. 31, compared with a $17.5 million net loss in the same quarter of the previous year, according to a company news release.

For the 6 months ended Dec. 31, there was a net loss of $5.2 million, compared with $19.9 million in the same period of the previous year.

The net loss numbers in 2011 were affected by a $14.8 million impairment write-down related to pSivida’s finite-lived intangible assets, according to the release.

Revenues fell to $585,000 in the second quarter from $630,000 the previous year.

Quarterly research and development expenses dropped to $1.6 million from $2 million the previous year, while general and administrative expenses increased to $1.7 million from $1.5 million.