pSivida Corp. (NASDAQ:PSDV), a leader in the development of sustained release drug delivery products for treating eye diseases, announced Dr. Paul Ashton, president and CEO of pSivida Corp., will present at the International Symposium on Ocular Pharmacology and Therapeutics Clinical meeting in Berlin, GermanyJuly 9-12, 2015. This meeting will focus on the significant revolution that has and continues to take place with new drugs and modes of delivery to treat eye disease. Dr. Ashton’s presentation is part of the “Innovation in Ophthalmology” section to be held on Saturday, July 11.
pSivida’s patented Durasert™ technology, which can deliver drug for a predetermined period ranging from months to years, is the basis of three of only four sustained release products approved by the FDA to treat back of the eye diseases. The most recent is ILUVIEN® for diabetic macular edema, and Medidur™ for posterior uveitis is in Phase III clinical trials. These products, which use the same injectable micro-insert, provide sustained delivery of a corticosteroid to the back of the eye for three years from a single injection.
“Back of the eye disease present significant challenges to traditional delivery methods,” Dr. Ashton said. “Eye drops have difficulty reaching the back of the eye; systemically administered drugs can cause significant side effects when delivered in sufficient quantity to reach the back of the eye; and injections of drugs directly to the back of the eye typically have transient therapeutic effect, requiring frequent injections. Our technology can provide extended delivery over months or years at a controlled, sustained release rate directly to the target site. ”
This meeting marks the 12th gathering of the ISOPT Clinical, offering a relevant and updated scientific program that provides for direct interactions of its delegates, who are physicians and researchers from throughout the world. (Original Source)
Shares of pSivida Corp closed yesterday at $4 . PSDV has a 1-year high of $4.94 and a 1-year low of $3.45. The stock’s 50-day moving average is $3.96 and its 200-day moving average is $4.11.
On the ratings front, MLV & Co. analyst Arlinda Lee reiterated a Buy rating on PSDV, with a price target of $6.50, in a report issued on June 12. The current price target implies an upside of 62.5% from current levels.
According to TipRanks.com, Lee has a total average return of 8.7%, a 50.8% success rate, and is ranked #887 out of 3640 analysts.
pSivida Corp develops tiny, sustained-release, drug delivery products designed to deliver drugs at a controlled and steady rate for months or years.