RBC puts ISTA at sector perform

RBC Capital Markets analyst Douglas Meihm rated ISTA Pharmaceuticals, Inc. at sector perform, speculative risk. The company acquired exclusive North American rights to Iganidipine and a new formulation of Latanoprost, two product candidates being developed for treatment of glaucoma and other ophthalmic indications. ISTA will pay $8 million per compound in up-front and additional milestone payments plus royalties. Shares of the Irvine, Calif.-based pharmaceutical company were up 16 cents, or 2.55%, at $6.44 on volume of 77,298 shares versus the three-month running average of 90,215 shares. (Nasdaq: ISTA)

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