Ista sees 2007 gross margin of 71-74 percent

Aug 1 (Reuters) - Ista Pharmaceuticals Inc. (ISTA.O: Quote, Profile, Research, Stock Buzz) on Wednesday said it expects gross margin of 71 percent to 74 percent for 2007, compared with its earlier view of 70 percent to 74 percent.

In a conference call, the ophthalmic pharmaceutical company affirmed its 2007 research and development expense view of $24 million to $28 million.

Shares of the company were up nearly 8 percent, or 55 cents, at $7.34 in morning trade on the Nasdaq. (Reporting by Niveditha Ravi in Bangalore)