Stock plum­mets at Eye­Gate fol­low­ing Phase IIb flop for cataract surgery

The share price is cra­ter­ing to pen­ny­s­tock ter­ri­to­ry at Eye­Gate $EYEG, a phar­ma com­pa­ny mak­ing treat­ments for pain and in­flam­ma­tion fol­low­ing eye surgery, af­ter news that its drug nei­ther re­duces pain nor in­flam­ma­tion as much as they hoped.

The Waltham-based com­pa­ny’s in­ves­ti­ga­tion­al prod­uct EGP-437 just wrapped up Phase IIb tri­als test­ing 106 pa­tients at sev­en US clin­i­cal sites. The tri­al test­ed the drug in pa­tients im­me­di­ate­ly fol­low­ing cataract surgery. The study failed both its co-pri­ma­ry end­points: pro­por­tion of sub­jects with an an­te­ri­or cham­ber cell count of ze­ro at day sev­en, and the pro­por­tion of sub­jects with a pain score of ze­ro at day one. Nei­ther showed sta­tis­ti­cal sig­nif­i­cance.

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