Ocuphire Pharma down on bigger-than-expected Q1 loss

Opus Genetics

15/05/2023 17:43

** Drug developer Ocuphire Pharma Inc's  OCUP.O  shares fall
18.2% to $4.93
    ** Company posts Q1 adj loss of 28 cents/shr, vs est of loss
of 15 cents/shr - Refinitiv
    ** OCUP believes cash and cash equivalent of about $39 mln
at Q1 end will be sufficient to fund operations into 2025
    ** U.S. FDA's target action date for company's experimental
eye drops, Nyxol, to reverse mydriasis, is set for Sept. 28
    ** Mydriasis is characterized by excessive or prolonged
dilation of pupils
    ** Including session's fall, stock up 39.7% YTD

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com))