• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Advertise
  • Subscribe

MassDevice

The Medical Device Business Journal — Medical Device News & Articles | MassDevice

  • Latest News
  • Technologies
    • Artificial Intelligence (AI)
    • Cardiovascular
    • Orthopedics
    • Neurological
    • Diabetes
    • Surgical Robotics
  • Business & Finance
    • Wall Street Beat
    • Earnings Reports
    • Funding Roundup
    • Mergers & Acquisitions
    • Initial Public Offering (IPO)
    • Legal News
    • Personnel Moves
    • Medtech 100 Stock Index
  • Regulatory & Compliance
    • Food & Drug Administration (FDA)
    • Recalls
    • 510(k)
    • Pre-Market Approval (PMA)
    • MDSAP
    • Clinical Trials
  • Special Content
    • Special Reports
    • In-Depth Coverage
    • DeviceTalks
  • Podcasts
    • MassDevice Fast Five
    • DeviceTalks Weekly
    • OEM Talks
      • AbbottTalks
      • Boston ScientificTalks
      • DeviceTalks AI
      • IntuitiveTalks
      • MedtechWOMEN Talks
      • MedtronicTalks
      • Neuro Innovation Talks
      • Ortho Innovation Talks
      • Structural Heart Talks
      • StrykerTalks
  • Resources
    • About MassDevice
    • DeviceTalks
    • Newsletter Signup
    • Leadership in Medtech
    • Manufacturers & Suppliers Search
    • MedTech100 Index
    • Videos
    • Webinars
    • Whitepapers
    • Voices
Home » pSivida’s Q4 sales jump 388 percent

pSivida’s Q4 sales jump 388 percent

September 23, 2010 By MassDevice staff

PSDV logo

pSivida Corp. (NSDQ:PSDV) sailed into the black with a 388 percent increase in revenues during the fourth quarter of fiscal 2010.

The Watertown, Mass.-based ophthalmic drug-delivery device maker posted net earnings of $13.1 million, or 68 cents per diluted share, on sales of $15.7 million during the three months ended June 30. That compares with a net loss of $534,000, or 3 cents per diluted share, on sales of $3.2 million during the same period last year.

For the full year, the company was $8.8 million in the black, with earnings of 46 cents per diluted share, on revenue of $23.1 million, compared with a loss of $2.5 million, or 14 cents per diluted share, on $12.1 million in revenue.

pSivida’s positive quarterly results were due entirely to the repayment of a $15 million loan and $225,000 in interest by pharmaceutical partner Alimera Sciences Inc. (NSDQ:ALIM) after that company’s $72 million IPO in April. The proceeds of payment and "amortization of Alimera deferred revenue in both fiscal year 2010 and 2009 accounted for substantially all revenues for the fiscal years and the fourth quarters," according to pSivida.

pSivida and Alpharetta, Ga.-based Alimera won priority review status in August for their Iluvien drug/device combination designed to treat diabetic macular degeneration. If the product is approved by the Food & Drug Administration, pSividia is due a $25 million milestone payment from Alimera. The companies are also seeking European approval for Iluvien. If it makes it to market, pSivida will collect 20 percent of the net profits.

"Beyond Iluvien, product development will continue to be our primary focus, as we shift our emphasis to the development of products using new generations of our technology systems," CEO Paul Ashton said in prepared remarks.

The Q4 sales helped rescue the company from a year marked by ups and downs. During the third quarter, pSivida saw a $2.7 million net loss as revenues shrank following a contract expiration in December. A 17 percent, or $2.8 million, drop in operating expenses also contributed to the company’s positive results for the fiscal year.

Filed Under: Business/Financial News, Drug-Device Combinations, MassDevice Earnings Roundup, News Well, Optical/Ophthalmic Tagged With: pSivida Corp.

More recent news

  • Cook Medical warns of issue with angiographic catheter
  • Virtuoso Surgical reports first cases with robotic endoscopy system, plans FDA IDE submission
  • Senseonics opens $50M public offering, $25M private placement with Abbott
  • Philips prices $1.1B offering to pay off debt, finance green projects
  • Pixee Medical reports first knee arthroplasty cases using its augmented reality nav tech

Primary Sidebar

“md
EXPAND YOUR KNOWLEDGE AND STAY CONNECTED
Get the latest med device regulatory, business and technology news.

DeviceTalks Weekly

See More >

MEDTECH 100 Stock INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.
MDO ad

Footer

MASSDEVICE MEDICAL NETWORK

DeviceTalks
Drug Delivery Business News
Medical Design & Outsourcing
Medical Tubing + Extrusion
Drug Discovery & Development
Pharmaceutical Processing World
MedTech 100 Index
R&D World
Medical Design Sourcing

DeviceTalks Webinars, Podcasts, & Discussions

Attend our Monthly Webinars
Listen to our Weekly Podcasts
Join our DeviceTalks Tuesdays Discussion

MASSDEVICE

Subscribe to MassDevice E-Newsletter
Advertise with us
About
Contact us

Copyright © 2025 · WTWH Media LLC and its licensors. All rights reserved.
The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media.

Privacy Policy