By Kathryn Hardison


Shares of Ocuphire Pharma Inc. dropped 31% to $2.60 in after-hours trading on Wednesday after it said its treatment for diabetic retinopathy didn't meet the primary endpoint in a recent study.

The ophthalmic biopharmaceutical company said late Wednesday that the goals of the phase 2 trial were to explore multiple endpoints to evaluate the potential for its APX3330 to be the first oral drug to benefit diabetic patients with eye disease.

Chief Executive Mina Sooch said the company didn't meet the primary endpoint, which was a precedented endpoint for local administration of anti-VEGF intravitreal injections.

However, the ZETA-1 study results on key pre-specified endpoints demonstrated positive outcomes with a favorable systemic and ocular safety profile, which supports the company's plans to move forward to an end-of-phase two meeting with the Food and Drug Administration.


Write to Kathryn Hardison at kathryn.hardison@wsj.com


(END) Dow Jones Newswires

01-25-23 1716ET