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Ocuphire Pharma, a clinical-stage ophthalmic biopharmaceutical company, announced financial results for Q1 2024, highlighting progress with APX3330 and RYZUMVI™. The company is in dialogue with the FDA regarding APX3330 for diabetic retinopathy. RYZUMVI™, launched by partner Viatris, marks a significant milestone. Ocuphire also disclosed updates on APX3330 and Phentolamine Ophthalmic Solution. Financially, Ocuphire had $47.2 million in cash as of March 31, 2024, with positive revenue from collaborations and royalties but faced increased expenses.
Ocuphire Pharma presented clinical data on APX3330 at the ARVO 2024 Annual Meeting, highlighting the drug's efficacy in slowing the progression of diabetic retinopathy. The Phase 2 ZETA-1 trial showed a significant reduction in DR worsening in participants treated with APX3330 compared to placebo, with favorable safety and tolerability profiles. Ocuphire is optimistic about the potential of APX3330 as a treatment option for patients at risk of vision-threatening complications.
Ocuphire Pharma, Inc. (Nasdaq: OCUP) will present at the Aegis Virtual Conference on May 7-9, 2024. Dr. George Magrath, CEO of Ocuphire, will provide an overview of the company's focus on developing therapies for eye disorders. Investors can arrange one-on-one meetings during the conference.