InSite Vision Incorporated (OTCBB: INSV) today reported financial results for the quarter and year ended December 31, 2014. The Company reported net income for the years ended 2014 and 2013 of $26.8 million, or $0.20 per share, in 2014 and $5.8 million, or $0.04 per share, in 2013. Driving profitability in 2014 was a $36.0 million gain on the extinguishment of the AzaSite Notes in June 2014. In 2013, revenues included $15.5 million from the sale of rights to receive royalties on the net sales of Besivance® and $10.5 million in minimum royalties on AzaSite®.
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