|Ohr Pharmaceuticals Rises on Wet-AMD Treatment News- More to come?|
|By Staff and Wire Reports|
|Wednesday, 22 June 2011 02:59|
Squalamine is a small molecule anti-angiogenic with a novel intracellular mechanism of action. The previous IV formulation had been awarded fast track status and a Special Protocol Assessment (“SPA”) by the FDA for a Phase III registration study in patients with Wet-AMD.
What does this mean for OHR?
This is not just the most important news in OHR’s short history, but may be the most significant event to date in Wet-AMD treatment.
"The Squalamine eye drop program has the potential to create a monumental shift in the way patients are treated for Wet-AMD," commented Dr. Shalom Z. Hirschman, M.D., Ohr's Chief Scientific Advisor.
The current standard of care for Wet-AMD is Lucentis, a $1.5B drug in annual sales that is delivered via intravitreal injection directly into the eye. If you or a loved one had the Wet-AMD condition, would you rather have monthly intravitreal injections, or use a simple eye drop? It’s a no-brainer.
In previous trials, Squalamine demonstrated a lower side effect profile, high efficacy, and an ability to also treat the fellow eye. Management will clearly move forward with its clinical program for the reformulated Squalamine. If results from the next phase of the clinical program are similar to previous trials, we believe that OHR is well-positioned to not just receive an FDA approval, but potentially emerge as the new standard of care for Wet-AMD treatment. This event should also put OHR firmly on big pharma’s radar screen as well.
Goldman Small Cap Research has recommended the purchase on the heels of this news and reiterated their $2.00 price target.
In addition to Goldman's recommendation, BioMedReports readers are advised to watchlist this stock as we are hearing more chatter regarding even more positive developments on the horizon (2-4 weeks?) for Ohr Pharmaceutical.