Shares Of OHR Pharmaceuticals Soar 30% After Announcing Additional Positive Data For Wet AMD Drug

Shares of OHR Pharmaceuticals (OHRP) soared 30% after the company announced that its squalamine eye drops (OHR-102) together with Lucentis (Genentech's injectable ranibizumab) produced better results than Lucentis alone as a mono-therapy  in patients with wet age-related macular degeneration (wet AMD. The new interim data for the phase 2 trial showed an early regression of subretinal hyper-reflective material (SHRM). This is material that gets built up in patients with macular degeneration and is used as a biomarker for wet AMD. The difference of regression in SHRM was observed in images by week 4 of the phase 2 study 

In addition OHR-102 was able to further prevent development of SHRM in the eyes. In the OHR-102 plus Lucentis treatment no patient saw an increase in SHRM over a 9-month period but with Lucentis alone 15% of the overall group saw an increase in SHRM in wet AMD. The phase 2 trial treating patients with wet AMD is known as the IMPACT trial. This interim analysis was presented at the 38th Annual Macula Society Meeting. These results prove that by combining OHR's squalamine eye drops -- OHR-102 -- together with Lucentis it improves patients' clinical efficacy outcomes. Lucentis is an FDA-approved drug by Genetech, a subsidiary of Roche (RHHBY), which is used to treat wet-age related macular degeneration in addition to other indications such as diabetic macular edema and retinal vein occlusion. 

Disclosure: no position in any stocks mentioned

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