pSivida raises $10.8 million in follow-on
pSivida Corp. (NASDAQ:PSDV; ASX:PVA) raised $10.8 million through the sale of 3.5 million shares at $3.10 in a follow-on underwritten by Ladenburg Thalmann and MLV. pSivida proposed the follow-on late Thursday, when its share price was $3.42.
The company's Iluvien fluocinolone acetonide invitreal implant is approved in Austria, Portugal, the U.K., France and Germany to treat chronic diabetic macular edema (DME) considered insufficiently responsive to available therapies. The injectable insert delivering fluocinolone acetonide (FA) to the retina is under review in the U.S. to treat chronic DME, with an Oct. 17 PDUFA date. Alimera Sciences Inc. (NASDAQ:ALIM) has rights to the product from pSivida, which also has two FDA-approved Orphan ophthalmic products partnered with and marketed by Bausch + Lomb Inc. (Rochester, N.Y.). ...