Insightful Word
  • Investing
  • Stock
  • Economy
  • Politics
  • Investing
  • Stock
  • Economy
  • Politics
No Result
View All Result
Insightful Word
No Result
View All Result
Home Economy

Eyenovia to end eye drug study, cut 50% of its workforce

admin by admin
November 16, 2024
in Economy
0
Eyenovia to end eye drug study, cut 50% of its workforce
0
SHARES
7
VIEWS
Share on FacebookShare on Twitter

(Reuters) -Eyenovia said on Friday it will discontinue a late-stage study for its experimental drug-device combination to treat near-sightedness and cut about 50% of its workforce.

Shares of the company were down nearly 70% at close of trading on Friday.

The drug, a low-dose atropine, was being tested with the company’s experimental drug-delivery device, Optejet, as a potential treatment for progressive myopia in children aged between 3 and 12.

An independent committee reviewed the safety and efficacy data from 252 trial participants and found that the rate of myopia progression was not significantly different between the treatment arm and placebo.

All doses of the drug appeared to be well-tolerated with “mild and infrequent” side-effects, the company said.

Optejet delivers the drug in microdoses and reduces chances of overdosing compared to conventional eyedroppers, according to the company.

The drug developer said it plans to review the data more thoroughly and evaluate strategic options, including a business combination, reverse merger and/or sale of assets.

The company said its remaining staff will be focused on the development of the second generation of Optejet.

Earlier this year, Eyenovia (NASDAQ:EYEN) had gained U.S. approval for its eye drops to reduce inflammation and pain in patients who have undergone eye surgery.

The company also markets a pupil-dilating spray, Mydcombi, for use with Optejet during eye examinations.

This post appeared first on investing.com

Previous Post

Mexico budget proposal trims 2025 deficit, sees better growth

Next Post

While farmers protest, UK’s Starmer says will defend budget ‘all day long’

admin

admin

Next Post
While farmers protest, UK’s Starmer says will defend budget ‘all day long’

While farmers protest, UK’s Starmer says will defend budget ‘all day long’

Trending News

Taiwan reports Chinese ‘combat patrol’ after Beijing slams US arms deal

Taiwan reports Chinese ‘combat patrol’ after Beijing slams US arms deal

October 27, 2024
Black Friday online spending hits $10.8B, fueled by discounts and mobile shopping

Black Friday online spending hits $10.8B, fueled by discounts and mobile shopping

December 1, 2024
These S&P 500 stocks could benefit from rally expansion beyond the ‘Magnificent Seven’

These S&P 500 stocks could benefit from rally expansion beyond the ‘Magnificent Seven’

February 7, 2025
Subscribe to Insightful Word


    Recent News

    Dow futures soar 250 points today: 5 things to know before Wall Street opens

    Dow futures soar 250 points today: 5 things to know before Wall Street opens

    August 7, 2025
    Affirm stock price is rising: is it a buy before earnings?

    Affirm stock price is rising: is it a buy before earnings?

    August 7, 2025
    Intel stock plunges sharply after Trump calls on CEO to resign: here’s why rebound may take time

    Intel stock plunges sharply after Trump calls on CEO to resign: here’s why rebound may take time

    August 7, 2025
    Goldman Sachs boosts Nvidia price target to $200 ahead of Q2 earnings

    Goldman Sachs boosts Nvidia price target to $200 ahead of Q2 earnings

    August 7, 2025

    Recent News

    Dow futures soar 250 points today: 5 things to know before Wall Street opens

    Dow futures soar 250 points today: 5 things to know before Wall Street opens

    August 7, 2025
    Affirm stock price is rising: is it a buy before earnings?

    Affirm stock price is rising: is it a buy before earnings?

    August 7, 2025

    Latest News

    • Dow futures soar 250 points today: 5 things to know before Wall Street opens
    • Affirm stock price is rising: is it a buy before earnings?
    • Intel stock plunges sharply after Trump calls on CEO to resign: here’s why rebound may take time

    About Insightful Word

    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools
    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools

    Copyright © 2025 Insightfulword.com. All Rights Reserved.

    No Result
    View All Result
    • Investing
    • Stock
    • Economy
    • Politics

    Copyright © 2025 Insightfulword.com. All Rights Reserved.