pSivida Corp. (NASDAQ:PSDV), a leader in the development of sustained release drug delivery products for treating eye diseases, today announced Dr. Paul Ashton, president and CEO of pSivida Corp., will speak at a special workshop focusing on ocular drug delivery just prior to the start of the Controlled Release Society (CRS) 2015 Annual Meeting being held July 26-29 in Edinburgh, Scotland. Dr. Ashton will address “The Complete Story – Going through Regulatory Approval” during the “Ocular Drug Delivery – Challenges of Matching New Technologies with Drug Pharmacokinetics” workshop to be held onSaturday, July 25.
pSivida’s patented Durasert™ technology, which can deliver drug for a predetermined period ranging from months to years, is the basis of three of the 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. 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.
According to the organizers, “The global ophthalmic pharmaceutical market is expected to be worth $22 billion by 2018. Yet only four intraocular slow release systems are approved today, due in part to the challenges of matching new technologies with drug pharmacokinetics.” This workshop is one of the first to be held by the society that will focus specifically on Ocular Drug Delivery. pSivida is also a sponsor of the workshop.
The Controlled Release Society (CRS) is the premier international, multidisciplinary society dedicated to delivery science and technology. CRS serves members from industry, academia and government in more than 50 countries worldwide who have an interest in drug delivery and other delivery applications in consumer and diversified products and animal health. CRS provides innovative research, targeted networking and career advancement to its membership. (Original Source)
Shares of pSivida Corp closed yesterday at $4.05. PSDV has a 1-year high of $4.94 and a 1-year low of $3.23. The stock’s 50-day moving average is $3.92 and its 200-day moving average is $4.08.
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 July 7. The current price target represents a potential upside of 60.5% from where the stock is currently trading. According to TipRanks.com, Lee has a total average return of 15.0%, a 57.4% success rate, and is ranked #429 out of 3711 analysts.
pSivida Corp develops tiny, sustained-release, drug delivery products designed to deliver drugs at a controlled and steady rate for months or years.