Eleven Bio's eye drug fails another late-stage study
Saturday, January 16, 2016
Eleven Biotherapeutics Inc said its lead eye drug failed in a late-stage trial in treating patients with severe allergic conjunctivitis, sending its shares down 36 percent in after-market trading.
The drug, codenamed EBI-005, failed to show statistically significant difference in treating ocular itching, compared with the vehicle arm, the company said on Friday.
Eleven Bio said it does not see an immediate path ahead for the drug, now named isunakinra, in allergic conjunctivitis.
The company in May pulled the plug on developing the drug to treat dry eye disease after a failed late-stage study.
Eleven Bio said on Friday it would focus on testing isunakinra in patients with diabetic macular edema (DME), a type of eye disease that could lead to blindness.
The company said it plans to submit in the first half of 2016 an application with the U.S. FDA to start clinical trials for DME.
Allergic conjunctivitis, commonly called "pinkeye", is an acute infection of the eye. It might be viral or bacterial, or may be caused by allergies or chemical irritation.
The infection is usually spread through contact with infected secretions from the eye, nose or throat.
Up to Friday's close of $2.34, the shares had slumped nearly 80 percent since May 18, when the company reported results of the late-stage study in dry eye disease.
reuters.com
