Iveric Bio soars after eye drug meets main goal in late-stage study

IVERIC bio

06/09/2022 12:04

** Iveric Bio Inc  ISEE.O  shares climb 42.5% to $13.46
premarket, biggest pct. gainer across U.S. stock exchanges
    ** Co says its eye disease treatment candidate for
Geographic Atrophy (GA) met main goal in late-stage trial 
    ** The drug, zimura, was statistically significant in
reducing the rate of progression of GA at 12 months compared to
placebo
    ** Based on the results, ISEE plans to submit marketing
application to FDA for the drug in Q1 of 2023 
    ** GA is an age-related muscular degeneration, which may
result in loss of vision
    ** Up to Friday's close, stock had lost 44% YTD

 (Reporting by Khushi Mandowara)
 ((Khushi.Mandowara@thomsonreuters.com;))