Strug­gling Ohr shut­ters lab af­ter halt­ing en­roll­ment for PhI­II wet AMD study

A few days ago the strug­gling mi­cro­cap biotech Ohr Phar­ma­ceu­ti­cal $OHRP told in­vestors it would “pause” en­roll­ment in their Phase III study of squal­im­ine for neo­vas­cu­lar wet AMD. Now the biotech has filed an 8-K with the SEC say­ing that it’s shut­ting down a small lab work­ing on a pre­clin­i­cal ef­fort.

The word from the New York-based com­pa­ny:

On Feb­ru­ary 21, 2017, Ohr Phar­ma­ceu­ti­cal, Inc. (the ‘Com­pa­ny”) took ac­tions to sus­pend ac­tiv­i­ties at its lab fa­cil­i­ty in San Diego, Cal­i­for­nia where the pre­clin­i­cal re­search re­gard­ing the sus­tained re­lease plat­form tech­nol­o­gy had been con­duct­ed. The sus­pen­sion of pre­clin­i­cal ac­tiv­i­ties at the lab fa­cil­i­ty will re­sult in a re­duc­tion in work­force of ap­prox­i­mate­ly 8 po­si­tions at the lab fa­cil­i­ty, which re­duc­tion will oc­cur im­me­di­ate­ly.

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