Ocuphire Pharma tanks as diabetes-focused eye drug fails to meet main goal

Opus Genetics

26/01/2023 12:21

** Shares of eye-drug developer Ocuphire Pharma Inc  OCUP.O 
fall 27% to $2.75 premarket
    ** Stock among top pct losers across the U.S. exchanges
    ** Co's investigational drug APX3330 fails to meet main goal
in mid-stage study for treating diabetic retinopathy, a
complication of diabetes that affects eyes
    ** Drug demonstrated favorable safety and tolerability
profile - Ocuphire 
    ** Says results on key pre-specified endpoints demonstrated
positive outcomes, which support co's plans to move forward to
an end-of-phase 2 meeting with the U.S. FDA 
    ** Stock up 25% in last 12 months
 (Reporting by Aditya Samal)
 ((Aditya.Samal@thomsonreuters.com;))