Bausch + Lomb Corporation (NYSE: BLCO) announced that two investigational eye treatments will move to new clinical stages following recent trial results, according to a company press release.

The first candidate is a dual-action eye drop that combines 5% lifitegrast and perfluorohexyloctane (PFHO) into a single twice-daily treatment targeting both ocular surface inflammation and tear evaporation in dry eye disease. A Phase 2 study enrolling 443 patients did not meet its primary endpoint of superiority over lifitegrast alone in reducing total corneal fluorescein staining at Day 29. A pre-specified secondary analysis at Day 15 showed a statistically significant reduction versus lifitegrast alone (p=0.0007). At Day 15, 41.6% of patients treated with the dual-action drop achieved a ≥3-unit improvement, compared with 18.8% for lifitegrast alone and 31.6% for PFHO alone. Bausch + Lomb said it will advance the candidate to Phase 3 with a Day 15 primary endpoint.

The second candidate, BL1332, is a topical TRPV1 antagonist intended to address ocular surface pain. A Phase 1b study using a capsaicin-induced pain model in healthy adults met its primary endpoint, showing a 5.5-point reduction in mean pain intensity versus vehicle at five seconds following capsaicin challenge (p<0.0001). Complete pain resolution was achieved in 68.2% of BL1332-treated eyes versus 0% of vehicle-treated eyes. An ongoing Phase 2 study in patients with post-surgical pain following photorefractive keratectomy is underway, with topline results expected within the coming months.

The company cited estimated peak sales of approximately $700 million for the dry eye candidate and approximately $1.4 billion for BL1332, assuming successful development and commercialization. Both figures were previously disclosed at the company's Investor Day in November 2025. Commercial contributions from both programs are expected beyond 2028.