Inotek shares crater (again) as another glaucoma drug study flops
For the second time this year Inotek Pharmaceuticals says its lead drug failed a clinical study for glaucoma. And the successive flop once again hammered its shares, which plunged 48% as it spiraled into penny stock status.
The news hit on Friday, after the market $ITEK closed. The Lexington, MA-based company noted a temporary and short-lived improvement in eye pressure among patients taking a combination of trabodenoson and Xalatan (latanoprost). But the latanoprost arm improved up to the cutoff point, while the combination did not.
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