Last $0.20 USD
Change Today -0.0074 / -3.63%
Volume 1.5K
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As of 10:01 AM 03/3/15 All times are local (Market data is delayed by at least 15 minutes).

insite vision inc (INSV) Snapshot

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52 Week High
09/10/14 - $0.36
52 Week Low
06/3/14 - $0.10
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insite vision inc (INSV) Details

InSite Vision Incorporated, an ophthalmic product development company, develops ophthalmic pharmaceutical products to address unmet eye care needs in the United States. It is developing products based on its proprietary DuraSite drug delivery technology. The company’s lead products comprise AzaSite, a macrolide antibiotic for the treatment of bacterial conjunctivitis; and Besivance, a fluoroquinolone antibiotic for the treatment of bacterial conjunctivitis. Its products also include ISV-101, a formulation with a low concentration of bromfenac for the treatment of dry eye disease. In addition, the company is involved in preparing a new drug application for the commercial approval of BromSite by the U.S. Food & Drug Administration for the prevention of pain and inflammation associated with ocular surgery; and advancing AzaSite Plus and DexaSite through Phase III clinical studies for the treatment of eye infections. Further, it has a pipeline of earlier-stage product candidates based on its platform technologies. The company has collaborative, licensing, and service agreements with Pfizer and Pfizer Products, Inc.; Akorn Pharmaceuticals; Catalent Pharma Solutions; and Bausch and Lomb Incorporated. InSite Vision Incorporated was founded in 1986 and is based in Alameda, California.

29 Employees
Last Reported Date: 02/18/15
Founded in 1986

insite vision inc (INSV) Top Compensated Officers

Chief Executive Officer and Director
Total Annual Compensation: $392.1K
Chief Financial Officer and Vice President
Total Annual Compensation: $274.8K
Vice President of Operations and Quality
Total Annual Compensation: $243.4K
Chief Medical Officer, Vice President of Clin...
Total Annual Compensation: $357.7K
Vice President of Development and Secretary
Total Annual Compensation: $298.7K
Compensation as of Fiscal Year 2014.

insite vision inc (INSV) Key Developments

InSite Vision Incorporated Proposes Amendment to Certificate of Incorporation

InSite Vision Incorporated proposed to adopt an amendment to Article IV of the company's restated certificate of incorporation to increase the number of authorized shares of the company's common stock and to effect a contingent reverse stock split of the company's issued and outstanding common stock to enable the company to relist on a major stock exchange at its upcoming annual general meeting going to be held on March 31, 2015.

InSite Vision Incorporated Auditor Raises 'Going Concern' Doubt

InSite Vision Incorporated filed its 10-K on Feb 18, 2015 for the period ending Dec 31, 2014. In this report its auditor, Burr, Pilger & Mayer LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

InSite Vision Incorporated Reports Financial Results for the Fourth Quarter and Year Ended December 31, 2014

InSite Vision Incorporated reported financial results for the fourth quarter and year ended December 31, 2014. For the year, the company reported net income for the years ended 2014 and 2013 of $26.8 million, or $0.20 per share, in 2014 and $5.8 million, or $0.04 per share, in 2013. Total revenues for the year ended December 31, 2014 were $8.2 million compared to $30.8 million for the same period in 2013. Revenues for 2014 included a $6.0 million license fee for the amendment to the Akorn License. Revenues for 2014 also included earned AzaSite royalties of $2.0 million. Earned AzaSite royalties declined by 48% compared to 2013 due to a reduction of the royalty rate from 25% to 8%, effective on April 1, 2014, due to the amendment to the Akorn License. Revenues in 2013 included $15.5 million from the sale of rights to receive royalties on the net sales of Besivance, $3.8 million of earned AzaSite royalties and an additional $10.5 million in minimum royalty true-up payments from Merck. Net income for the year ended December 31, 2014 was $26.8 million, or $0.20 per share, compared to net income of $5.8 million, or $0.04 per share, in 2013. For the fourth quarter, the company’s total revenues were $0.4 million for the fourth quarter of 2014 compared to $1.1 million for the same period in 2013. In the fourth quarter of 2014, revenues included earned royalties from Akorn for net sales of AzaSite of $0.3 million. In the fourth quarter of 2013, revenues included an additional $1.0 million milestone payment after certain 2013 Besivance sales targets were met. The company's earned AzaSite royalties on net sales of AzaSite were less than $0.1 million in the fourth quarter of 2013, largely due to a product supply shortage. Net loss for the fourth quarter of 2014 was $2.4 million, or $0.02 per share, compared to net loss of $5.0 million, or $0.04 per share, in the fourth quarter of 2013. The decline in net loss was primarily due to lower interest expense in the fourth quarter of 2014 due to the cancellation of the AzaSite Notes in June 2014.


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