By ST Staff
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.
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.
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.
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.