Ocuphire Pharma Says New OPGx-LCA5 Phase 1/2 6-Month Data Demonstrate Safety And Visual Improvement In Early Onset Retinal Degeneration; Company Will Seek A Strategic Partner To Continue Development Of APX3330, An Oral Small-Molecule Inhibitor Of Ref-1 For The Treatment Of Non-Proliferative Diabetic Retinopathy; Projected Cash Runway Extended Into 2026
Acquisition creates a leading, clinical-stage company focused on the development of gene therapy treatments for rare inherited retinal degenerations
New OPGx-LCA5 Phase 1/2 6-month data demonstrate safety and visual improvement in early onset retinal degeneration
Additional clinical data in LCA5 pediatric patients and BEST1 patients is expected in 2H 2025
LYNX-2 Phase 3 trial of Phentolamine Ophthalmic Solution 0.75% in patients with dim light disturbances remains on track for top-line data in Q1 2025
VEGA-3 Phase 3 trial of Phentolamine Ophthalmic Solution 0.75% in presbyopia remains on track for top-line data in H1 2025
Company will seek a strategic partner to continue development of APX3330, an oral small-molecule inhibitor of Ref-1 for the treatment of non-proliferative diabetic retinopathy
Projected cash runway extended into 2026
Conference call to discuss the acquisition to take place at 4:30 p.m. ET today
FARMINGTON HILLS, Mich., Oct. 22, 2024 (GLOBE NEWSWIRE) -- Ocuphire Pharma, Inc. (NASDAQ:OCUP), a clinical-stage ophthalmic biopharmaceutical company focused on developing and commercializing therapies for the treatment of patients with retinal and refractive eye disorders, today announced the all-stock acquisition of Opus Genetics, Inc., a clinical-stage gene therapy company for inherited retinal diseases (IRDs). The merger creates a transformative biotech company committed to being a leader in the development of gene therapies for the treatment of IRDs. In connection with the merger, the combined company will be renamed Opus Genetics, Inc., effective October 23, 2024, and will trade on Nasdaq under the ticker symbol "IRD" effective October 24, 2024.
