InSite reports annual net income, but lack of operational funds imminent

InSite Vision reported revenues of $30.8 million for 2013, compared with $21.6 million for 2012, according to a press release. Net income was $5.8 million for the year, or $0.04 per share, compared with a net loss of $8.3 million, or $0.06 per share, in 2012. However, the company expects that cash on hand, anticipated cash flow from operations and current cash commitments will only be able to fund operations until approximately September. If unable to secure additional funding before then, InSite will likely cease operations and liquidate its assets, (Read more...)

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