pSivida Corp. (PSDV) saw its loss narrow to $0.07 million in the quarter ended compared with $5.19 million, a year ago.

Revenue during the quarter surged 1,035.17 percent to $5.97 million from $0.53 million in the previous year period.

Operating loss for the quarter was $0.09 million, compared with an operating loss of $5.24 million in the previous year period.

"Our efforts begun in late September 2016 to reprioritize pSivida's development program profile from a higher risk, longer term focus to one that is moderate risk and nearer term, are making progress towards achieving our objectives," said Nancy Lurker, president and chief executive officer. "In addition to our planned EU and U.S. registration filings this year for our Durasert three-year treatment for posterior segment uveitis, we are actively pursuing a partnership agreement to commercialize the product in the EU post approval. "In the U.S., our second Phase 3 trial of Durasert three-year uveitis requested by the FDA completed enrollment and we continue to expect top line read out of this trial by the end of the second quarter of calendar 2017," continued Ms. Lurker. "We remain optimistic that the second trial will provide positive results due to the robustness of the first trial and the similar trial design. Concurrently, the robustness of our Durasert technology has led us to embark on an aggressive strategy to pursue collaboration agreements with other drug manufacturers. A key corporate objective remains to enter into at least one such agreement during calendar 2017."