Noble Financial Starts Eyegate Pharma (EYEG) at Buy; Notes Novel Eye Delivery Tech, Broad Spectrum Appeal

Noble Financial starts coverage on Eyegate Pharmaceuticals, Inc. (Nasdaq: EYEG) with a Buy rating and $10 price target.

Analyst Nathan Cali noted the following points with today's initiation:

• Lead phase III asset, EPG-437, reformulated topically active corticosteroid, dexamethasone phosphate, delivered into the ocular tissue through proprietary drug delivery system; validated delivery technology using inotropherisis; applies low electrical current to an ionizable substance (dexamethasone) for penetration to ocular tissue
• EGP-437 combination product, unique delivery, could offer patients a first-in-class noninvasive delivery for ocular diseases, eliminate dosing burden, reducing adverse effects of corticosteroid use; lead product candidate developed for the treatment of multiple ocular indications; non-infectious anterior uveitis, post-cataract surgery, diabetic macular edema
• Completed a phase III in 193 patient, EPG-437, dexamethasone phosphate versus standard of care eye drops prednisolone acetate 1% (PA), intended to compare the resolution of inflammation due to anterior uveitis; 32/96 (33%) patients with a complete response (resolution of inflammation), PA resolution 32/97 (33%) at day 14
• Phase III, EPG-437 showed comparable results, after just two physician treatments of 5 minutes day zero and day 7; the PA treatment group received a treatment schedule of 4 to 8 drops per day, over the course of four weeks, totaling 154 drops; data validates technology in a robust prospective study

For an analyst ratings summary and ratings history on Eyegate Pharmaceuticals click here. For more ratings news on Eyegate Pharmaceuticals click here.

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