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    Why Is Ocuphire (OCUP) Stock So Hot In Premarket?

    By ST Staff

    Jun 30,2021

    6:06 AM UTC

    At last check, shares of Ocuphire Pharma Inc. (OCUP) were up 32.84% to trade at $6.31 in pre-market trading. On Wednesday, Ocuphire stock fell -2.06% to close at $4.75. Volume for OCUP stock stayed at 0.39 million shares, meaning it was a lower daily volume than its average of 0.42 million shares in the past 50 days. OCUP’s market capitalization stands at 57.67 million dollars and it have 10.92 million shares outstanding. OCUP stock is gaining traction after encouraging results of a clinical trial.

    Why did that trial take place?

    Ocuphire develops and commercializes therapies for the treatment of several eye conditions through its clinical-stage ophthalmic biopharmaceutical platform. In the course of pursuing its strategy, OCUP will continue to explore opportunities to acquire additional ophthalmic assets and to search for strategic partners to assist with drug development, regulatory preparation, and commercialization efforts in key global markets.

    In its VEGA-1 Phase 2 clinical trial, Ocuphire announced today that the primary and many secondary endpoints for its clinical study of Nyxol combined with low dose pilocarpine (LDP) in presbyopic subjects have been met.

    Key highlights:

    • In photopic binocular near vision, 61% of Nyxol + LDP subjects improved by 15 letters or more at 1 hour compared with 28% of placebo subjects.
    • Phase 3 co-primary endpoint of OCUP demonstrated 15 letters (3 lines) of improvement in near vision while only losing less than 5 letters in distance vision.
    • A rapid onset of efficacy was noted by the OCUP within 30 minutes.
    • Through at least 6 hours, OCUP observed a sustained improvement in near vision.
    • OCUP reported near vision efficacy in both monocular and binocular view.
    • By observing both its efficacy in light as well as dark iris colors, OCUP has identified that it is effective.
    • OCUP trial unveiled that Nyxol + LDP was generally well tolerated.
    • According to OCUP, there were no serious adverse events (AE) while most of AEs were mild in nature.
    • The OCUP trial did not send serious adverse events, nor did there appear to be any headaches or brow aches.

    Ocuphire (OCUP) plans to move on to Phase 3 as a result of these results. Nyxol + LDP has the potential for differentiation and to be a best-in-class product for treating presbyopia, OCUP believes, given its rapid onset and sustained duration of efficacy, favorable safety profile, and potential tunability of treatment.

    Trial summary:

    The Based on these results, Nyxol works by contracting the iris dilator muscle, which results in a smaller pupil size and beneficial effects on presbyopia. In the recent clinical studies by Ocuphire (OCUP), Nyxol plus LDP combination is demonstrated to have a rapid onset of action and long-lasting effect while maintaining good distance vision at night and day. The OCUP found all treatments to be well tolerated and safe. OCUP views Nyxol + LDP as one of the most promising treatment options for presbyopia.

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