Ohr Pharmaceutical (OHRP) Reports Q1 Results; Pauses Enrollment in First Phase 3 Trial of Squalamine

Ohr Pharmaceutical (NASDAQ: OHRP) reported Q1 EPS of ($0.21), versus ($0.20) reported last year.

In parallel with these ongoing business discussions, for strategic reasons, Ohr has paused enrollment in the first Phase 3 clinical trial of its lead drug candidate squalamine lactate ophthalmic solution, 0.2% (“Squalamine”), for the treatment of neovascular age-related macular degeneration (wet AMD). The enrollment pause is not related to any safety issue. Currently, there are more than 200 subjects enrolled in the study. The study remains double-masked and no interim efficacy or futility analysis has been performed. Subjects currently enrolled in the study continue to undergo scheduled visits and assessments as well as receive assigned study treatments as per the current protocol.

“We plan to continue the study for currently enrolled patients to evaluate the efficacy of Squalamine combination therapy,” stated Jason Slakter, MD, Chief Executive Officer of Ohr. “This approach is intended to provide prospective efficacy data before year end 2017 to enable us to potentially confirm the visual acuity benefits observed in the patient population we identified as the most likely to benefit from Squalamine combination therapy. Given the recent study readouts from other combination therapy agents and the reaction to these results, we feel that a change in our clinical development program is warranted. We remain confident about the potential of Squalamine, a differentiated, topical, multi-target angiogenesis inhibitor, to provide improved visual function to patients suffering from wet-AMD.”

Thomas Riedhammer, Ohr Board member, added, “We believe that this strategy is the best way to realize the potential for the Squalamine program, maximize shareholder value, and preserve company resources. If the company can demonstrate confirmation of the visual acuity benefits seen in the previous Phase 2 study, it would be a significant step forward in our goal of bringing new treatments for patients with vision threatening diseases like wet-AMD.”

For earnings history and earnings-related data on Ohr Pharmaceutical (OHRP) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• JD.com (JD) Reiterated at Buy by Benchmark Amid Earnings Recovery
• SanDisk upgraded at JPMorgan after investor day; shares climb