Ocugen rises after FDA lifts clinical hold on diabetic eye damage therapy
09/10/2024 16:58
** Shares of anti-diabetic drug maker Ocugen OCGN.O up
1.75% at $0.98
** Co's investigational treatment for diabetic macular edema
(DME), OCU200, can now begin Phase 1 clinical trial after US FDA
lifts clinical hold
** DME is a condition that can damage the eyes of diabetic
patients due to abnormal blood vessel growth in the retina
** FDA in April 2023 had asked co for additional information
on manufacturing practices and product specifications before
beginning trial
** Co intends to pursue additional indications for the drug
to potentially treat diabetic retinopathy and wet age-related
macular degeneration
** Up to Tuesday's close, shares have risen 69.7% YTD
(Reporting by Bageshri Banerjee in Bengaluru)
((Bageshri.banerjee@thomsonreuters.com))