Ocuphire Pharma up on agreement with FamyGen to develop eye drug

Opus Genetics

08/11/2022 11:14

** Ocuphire Pharma Inc's shares  OCUP.O  rise 27.5% to $0.57
- amongst the biggest gainers across U.S. stock exchanges
premarket 
    ** Drug developer late on Monday entered an exclusive
agreement with FamyGen Life Sciences Inc to develop and
commercialize eye drug, Nyxol, for treatment of mydriasis,
presbyopia and night vision disturbances  urn:newsml:reuters.com:*:nGNXbgkb8Q 
    ** Under the agreement, OCUP will receive an upfront cash
payment of $35 mln, and will be eligible for additional payments
by achieving regulatory milestones
    ** Up to Monday's close, stock had fallen ~44% YTD 
 (Reporting by Khushi Mandowara)
 ((Khushi.Mandowara@thomsonreuters.com;))