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.
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