ISTA Pharma (ISTA) Increases Credit Facility with Silicon Valley Bank from $10M to $25M

December 24, 2008 7:44 AM EST
ISTA Pharmaceuticals, Inc. (Nasdaq: ISTA), today announced it has increased the maximum the Company can borrow on its existing revolving line of credit with Silicon Valley Bank to $25 million from $10 million. Under the new credit line, ISTA can borrow an amount equal to 80% of its eligible accounts receivable balances plus a portion of its cash, up to a maximum of $25 million. Additionally, ISTA can pre-pay the credit line at any time.

ISTA Pharmaceuticals, Inc., an ophthalmic pharmaceutical company, engages in the discovery, development, and marketing of therapies for inflammation, ocular pain, glaucoma, allergy, dry eye, vitreous hemorrhage, and diabetic retinopathy in the United States.

You May Also Be Interested In

Related Categories

Corporate News