InSite Vision Incorporated (OTCBB:INSV) today reported financial results
for the quarter ended June 30, 2012. Total revenues for the second
quarter of 2012 were $1.8 million, a decrease of $1.3 million from the
same quarter of 2011. InSite Vision had cash, cash equivalents and
short-term investments of $17.6 million as of June 30, 2012, reflecting
cash usage of $4.7 million in the quarter, which included $2.2 million
for the AzaSite Plus™ and DexaSite™ Phase 3 DOUBle
clinical trial.
"The first half of this year has been focused on clinical development
execution," said Tim Ruane, InSite's Chief Executive Officer. "The Phase
3 DOUBle clinical study of AzaSite Plus and DexaSite for the treatment
of blepharitis is accruing ahead of schedule and we are preparing to
initiate our Phase 3 clinical trial of BromSite for post-surgical pain
and inflammation. We anticipate a busy second half of the year as our
late-stage pipeline programs advance through pivotal studies."
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