Alimera (ALIM), pSivida (PSDV) Move Higher as Journal Questions Lucentis Effectiveness
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Alimera Sciences, Inc. (Nasdaq: ALIM) and pSivida Corp. (Nasdaq: PSDV) are notably higher on the session following earlier reports the a competing drug's effectiveness has come into question.
The JAMA Ophthalmology journal pubished an article on Roche's (OTCBB: RHHBY) Lucentis, suggesting there was little difference between the drug and saline on rate of vitrectomy in patients with vitreous hemorrhage tied to diabetic retinopathy.
Alimera and pSivida are currently developing Iluvien for the treatment of vision impairment tied to diabetic macular edema (DME). The drug will be resubmitted to the FDA in the first-quarter of 2013 and is already approved for use in some European markets. The FDA rejected the drug in November 2011. For more color, click here.
Competition for Iluvien would come from Regeneron and Bayer's Eylea, which is also in development stage.
Shares of Alimera are up 20 percent while pSivida is 10 percent higher Friday.
The JAMA Ophthalmology journal pubished an article on Roche's (OTCBB: RHHBY) Lucentis, suggesting there was little difference between the drug and saline on rate of vitrectomy in patients with vitreous hemorrhage tied to diabetic retinopathy.
Alimera and pSivida are currently developing Iluvien for the treatment of vision impairment tied to diabetic macular edema (DME). The drug will be resubmitted to the FDA in the first-quarter of 2013 and is already approved for use in some European markets. The FDA rejected the drug in November 2011. For more color, click here.
Competition for Iluvien would come from Regeneron and Bayer's Eylea, which is also in development stage.
Shares of Alimera are up 20 percent while pSivida is 10 percent higher Friday.
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