Great Results From Two Studies for Ohr Pharmaceutical Print E-mail
By Rob Goldman   
Wednesday, 13 July 2011 07:43
penny stocksEarlier Wednesday morning, Ohr Pharmaceutical (OTC.BB:OHRP) announced positive results from two critical animal studies on the recently announced Squalamine eye drop formulation for the treatment of wet-age related macular degeneration ("wet-AMD").


Ohr Pharmaceutical Announces Positive Animal Studies for Novel Squalamine Eye Drop for Wet-AMD

"These new data solidify the value of our eye drop program and the path forward to clinical efficacy trials for the treatment of wet-AMD with this patient friendly mode of administration," stated Irach B. Taraporewala Ph.D., CEO of Ohr Pharmaceutical Inc. "We are very excited about the Squalamine program and its immense potential to create a paradigm shift in the multi-billion dollar wet-AMD market."

Bottom Line:

The two studies demonstrated that the eye drop is safe, had no ocular toxicity, and importantly, that it entered the tissues in the back of the eye in concentrations known to block choroidal neovascularization (“CNV”).

Why is this important?


These results answer the question of the viability of delivering Squalamine as an eye drop. Before today, no company has successfully developed a Wet-AMD drug as an eye drop because the drug could not be delivered  to the back of the eye as an eye drop. OHR now has a clear pathway to Phase 2b clinical trials with Squalamine in an eye drop formulation.

In previous clinical trials, where Squalamine was tested via IV infusion, safety and efficacy were excellent. However, because an IV infusion practically cannot be given weekly on a regular basis there was a steep decline in drug concentrations between consecutive dosings to therapeutically ineffective levels for extended periods of time. The eye drop formulation provides a solution that allows the patient to consistently self-administer and replenish the dose level required to be therapeutically effective.

It was also impressive that two retina specialists were so enthralled by the results that they agreed to be quoted and put their names on the program. We view this event as a strong validation from the scientific and medical communities.

The 1.75 million U.S. wet-AMD patients can relish in the fact that management will clearly move forward with its clinical program for the reformulated Squalamine. With this data behind it, Squalamine could become the standard of care in this huge market.

We continue to rate OHRP Speculative Buy and have our $2.00 target under review for a possible upgrade.

Note: Shares of OHRP have doubled in value since our coverage of the stock in June. A full report on OHRP is available for download free of charge at Goldman Small Cap Research.

About the Author:

Rob Goldman has 20 years of investment and company research experience as a senior research analyst and as a portfolio and mutual fund manager. During his tenure as a sell-side analyst, Rob was a senior member of Piper Jaffray's Technology and Communications teams. Prior to joining Piper, Rob led Josephthal & Co.'s Washington-based Emerging Growth Research Group. In addition to his sell-side experience Rob served as Chief Investment Officer of a boutique investment management firm and Blue and White Investment Management, where he managed Small Cap Growth portfolios and The Blue and White Fund. Goldman produces research via two formats: Goldman Select Research and Goldman Opportunity Research. The Select product represents the Firm’s internally generated stock ideas while the Opportunity product represents sponsored research reports. This coverage tends to be dominated by early-stage health care, technology and energy sectors. Six month or three month subscriptions can be commissioned by publicly traded company management, investor relations or consulting firms, investment banks, or related parties. Full disclosures and report details are available at goldmanresearch.com




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