Thursday, July 19, 2012

Psivida Corp (Nasdaq: PSDV) Soars As Eye Device Moves to Late-Stage Trials

Psivida Corp (Nasdaq: PSDV) Soars As Eye Device Moves to Late-Stage TrialsPalm Beach, FL 7/19/12 (StreetBeat) – Shares of Psivida Corp (Nasdaq: PSDV) surged 37% Thursday following the U.S. health regulators clearance of its experimental eye insert to skip initial studies and proceed directly to late-stage trials. The insert is a sustained-release device injected into the back of the eye and aims to treat posterior uveitis. Posterior Uveitis, classified as the 3rd largest cause of blindness in the US, is an inflammatory disease of one of the layers of the eye.

"As the same micro-insert was used in the Iluvien trials, we expect to observe a comparable side-effect profile in uveitis patients as was seen in diabetic macular edema patients," Chief Executive Paul Ashton said. Iluvien has been rejected twice by the FDA, but is currently approved to treat retinal swelling in diabetic patients in the UK, Austria, France, and Portugal.

Psivida added that “since the experimental insert delivers the same drug as its other insert Retisert, which is FDA-approved to treat posterior uveitis, the company expects to see favorable efficacy in the late-stage studies”.

Shares are currently trading at $2.94, up $.80 or 37%.

Please contact for interest in our latest investor relations platform the “CEO Interview Series” with its host Steve Kanaval. The package includes a one-on-one interview with a seasoned industry professional; published segment to our web site with embedded audio/video file; and a compressed file that can be easily e-mailed out to your current and/or potential investors. Please e-mail or call (662) 392-0740 for pricing and scheduling.

StreetBeat Disclaimer

Distributed by Viestly

No comments:

Post a Comment