pSivida reports net second quarter loss

pSivida Corp. reported a net loss of $3.5 million, for its second quarter, ended Dec. 31, 2013, compared to a net loss of $2.6 million for the prior year’s quarter.

The company said that the higher loss in the second quarter of fiscal 2014 primarily reflected costs associated with its phase III clinical trial of Medidur for posterior uveitis, which started in the quarter that ended in June 2013.

Revenues for the quarter ended Dec. 31, 2013 totaled $592,000 compared to $585,000 for the prior year period. Increased collaborative research and development revenue was offset by lower Retisert royalty income from Bausch & Lomb.

Revenues for the six months ended Dec. 31, 2013 totaled $1.2 million compared to $1.1 million for the six months ended Dec. 31, 2012. The company reported a net loss of $7.2 million, or $0.27 per share, for the six months ended Dec. 31, 2013, compared to a net loss of $5.2 million, or $0.23 per share, for the same period of the prior year.