Ocuphire Pharma slumps as diabetic retinopathy drug fails to meet main goal

Opus Genetics

25/01/2023 21:44

** Shares of drug developer Ocuphire Pharma Inc  OCUP.O 
fall ~32% to $2.56 after the bell
    ** Co says its drug APX3330 for the treatment of diabetic
retinopathy failed to meet main goal in mid-stage study
    ** Adds that drug demonstrated favorable safety and
tolerability
    ** Says results on key pre-specified endpoints demonstrated
positive outcomes that support co's plans to move forward to an
end-of-phase 2 meeting with the U.S. FDA - OCUP
    ** Diabetic retinopathy is a complication of diabetes that
affects the eyes
    ** Stock lost 6% last year
 (Reporting by Sriparna Roy)
 ((Sriparna.Roy@thomsonreuters.com;))