On November 11, InSite Vision, Inc. reported its financial results on Wednesday for the third quarter ended September 30, 2009 with revenues of $2.2 million compared to $1.0 million for the same period in 2008. The company is looking for potential products, technologies or merger/acquisition opportunities. Louis Drapeau, CEO of InSite Vision said: "We remain in active discussions with potential commercial partners in Europe and elsewhere for AzaSite. We currently have licensing and distribution agreements with partners in Japan, Taiwan, South Korea, four countries in South America, Turkey and China. We expect the first international commercial launch of AzaSite to occur in the first half of 2010." He added: "We have been working with our advisor, Piper Jaffray, to facilitate the identification and evaluation of potential products, technologies or merger/acquisition opportunities. We have narrowed our evaluation of potential collaboration opportunities to a select few. We will provide future updates, as appropriate."

Insite Vision Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported net loss of $3,052,000 or $0.03 per basic and diluted share on revenue of $2,209,000 against net loss of $7,950,000 or $0.08 per basic and diluted share on revenue of $960,000 for the same period a year ago. Loss from operations of $539,000 compared to $5,625,000 for the same period a year ago. For the nine months, the company reported net loss of $12,107,000 or $0.13 per basic and diluted share on revenue of $6,336,000 against net loss of $12,742,000 or $0.13 per basic and diluted share on revenue of $12,196,000 for the same period a year ago. Loss from operations of $4,622,000 compared to $7,195,000 for the same period a year ago.

Insite Vision Inc., Q3 2009 Earnings Call, Nov 11 2009