Ocuphire Pharma Says New OPGx-LCA5 Phase 1/2 6-Month Data Demonstrate Safety And Visual Improvement In Early Onset Retinal Degeneration; Company Will Seek A Strategic Partner To Continue Development Of APX3330, An Oral Small-Molecule Inhibitor Of Ref-1 For The Treatment Of Non-Proliferative Diabetic Retinopathy; Projected Cash Runway Extended Into 2026
Portfolio Pulse from Benzinga Newsdesk
Ocuphire Pharma has announced the acquisition of Opus Genetics, creating a leading company in gene therapy for retinal diseases. The merger will result in a name change to Opus Genetics, Inc., with a new Nasdaq ticker 'IRD'. The company is seeking a strategic partner for APX3330 development and has extended its cash runway into 2026.
October 22, 2024 | 8:17 pm
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Ocuphire Pharma has acquired Opus Genetics, forming a new entity focused on gene therapy for retinal diseases. The merger will result in a name change to Opus Genetics, Inc., and a new Nasdaq ticker 'IRD'. The company is also seeking a partner for APX3330 development.
The acquisition of Opus Genetics positions Ocuphire Pharma as a leader in gene therapy for retinal diseases, which is likely to positively impact its stock price. The strategic focus and extended cash runway into 2026 further strengthen its financial position.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100