NexGel up on developing hydrogel patch for treating eye condition
20/10/2022 18:44
** Shares of medical hydrogel provider NexGel Inc NXGL.O
rise 4.7% to $1.5
** Co says it has developed a new, proprietary hydrogel eye
patch to treat amblyopia, a type of poor vision that typically
occurs in one eye but can occur in both eyes urn:newsml:reuters.com:*:nGNXcH8GC
** Co expects the patch to be available for eye specialists
to offer to their patients in the first half of 2023
** NGLX's hydrogel patch is much gentler on the skin and is
manufactured without the use of harsh chemicals or painful
adhesives unlike the current standard-of-care patching for
amblyopia- Co
** Co says, according to the National Eye Institute,
amblyopia is the most common cause of visual impairment in
childhood and is present in nearly 2%-4% of the U.S. population
** Including session's gain, stock down ~43% YTD
(Reporting by Pratik Jain)
((Pratik.Jain@thomsonreuters.com;))