Insite Vision Inc. (OTCMKTS:INSV) Surges On Merger News

[[tagnumber 0]][[tagnumber 1]]Insite Vision Inc. (OTCMKTS:INSV)’s stock has rarely seen investor attention in recent times. This is probably the reason for which we have not published anything about the company in about a year.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]There are also rarely any impressive news coming from company HQ. The price of [[tagnumber 6]]INSV [[tagnumber 7]]hasn’t been doing so good as well, despite the fact that the company has some pretty decent numbers to show in its balance sheet. Here is what the company had to show for the first quarter of this year.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 11]] [[tagnumber 12]]cash: $1.05 million[[tagnumber 13]] [[tagnumber 12]]current assets: $2.58 million[[tagnumber 13]] [[tagnumber 12]]current liabilities: $10.35 million[[tagnumber 13]] [[tagnumber 12]]revenues: $3.37 million[[tagnumber 13]] [[tagnumber 12]]net loss: $828 thousand[[tagnumber 13]] [[tagnumber 22]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]While the current liabilities of [[tagnumber 6]]INSV[[tagnumber 7]] may be pretty significant we can’t ignore the fact that the company is generating a good amount in revenues. The revenues have, in fact, increased by around 3 times compared to the same period last year, while the net loss has decreased by some 82%.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]Still, as it is with many decent OTC entities, they don’t attract a lot of attention. That was until yesterday, however. Yesterday [[tagnumber 6]]INSV[[tagnumber 7]] announced that they will be merging with Canadian biotech company QLT Inc. (TSE:QLT).[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]The company provided a lot of details about the merger process and the press release surely got investors excited. The ticker started moving up and had gained a total of 23.21% by the end of the day, closing at $0.1725. A total of 2.19 million shares changed their owners, generating $370 thousand in daily dollar volume, the biggest in quite some time.[[tagnumber 2]] [[tagnumber 0]] [[tagnumber 2]] [[tagnumber 0]]It appears, however, that the hype has dwindled away. We see [[tagnumber 6]]INSV[[tagnumber 7]] hesitating in today’s session and the ticker is 1.39% in the red as of the writing of this session. You should be sure to do your due diligence and weigh out the risks before putting any money on the line.[[tagnumber 2]]