pSivida Corp
(ASX:PVA), a company specializing in drug delivery products for eye diseases, has announced its financial results for its second quarter ended 31 December 2015.
Cash equivalents and marketable securities totaled $21.2 million compared to $24 million in the prior quarter.
In January this year, the company enhanced its cash position with approximately $16.4 million of net proceeds from an underwritten public offering of 4.44 million shares.
Revenues for the quarter totaled $526,000.
Operating expenses for the quarter also increased to $5.8 million, the increase of which was attributed to the Medidur clinical development program.
