InSite Vision delisted by Amex - San Francisco Business Times:

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million since 2004, has been removed from the AmericanStock Exchange. The exchange cited the company’s losses, includingh $5.5 million in the first quarter, and a stoci price that has ranged from 59 cents to 17 centsa over the pastsix months, according to an SEC filing. The filingg comes a week after InSite said won Food and Drug Administration approvalfor Besivance, whichg uses a synthetic polymer developed by InSite now is traded over the countetr as INSV.OB. InSite has one producty on the U.S. markegt — the pink-eye treatmentg AzaSite — and that was approved in Marchuin Canada.
It also has signedd distribution deals inSouth Korea, Turkeyh and China as well as four Soutj American countries. InSite also plans to enter a Phase III trialof ISV-502, a topical antibiotic/corticosteroid producr to treat eyelid infection and inflammatiom in adults. Yet the company said in March that it wouldd fire more than halfits staff, bringing its workforcw to under 20 people. A Texas venture capitall firm, , last summer led a shareholder coup that replaced the boarc of directors and broughtt about the resignationof S. Kumar the company’s chairman and CEO. The American Stoco Exchange initially notified InSite in Decembere that it was not in compliance withexchange rules.
InSite the next month submitter a plan to regain compliance but that was rejecterd in February by the The company appealed and onApril 8, the companyh learned that the exchangse denied the appeal.