EyeGate Pharmaceuticals Inc (NASDAQ: EYEG) is up in a massive way early in the pre-market this morning after announcing positive top-line clinical data. Of course, the positive data brings the company one step closer to commercialization, exciting investors who are sending the stock screaming for the top. Today, we’ll talk about the data, what we’re seeing from EYEG stock as a result, and what we’ll be watching for ahead.
EYEG Announces Positive Top-Line Ocular Bandage Gel Data
As mentioned above, EyeGate Pharmaceuticals is rocketing in the trading session this morning after the company reported positive top-line clinical data. The data came from a study evaluating the company’s Ocular Bandage Gel (OBG). OBG was designed to help clinicians provide relief to patients with puctate epitheliopathies (PE) due to pathologies like dry eye.
The clinical study was controlled and masked and enrolled 30 patients. Every patient enrolled suffered from punctate epitheliopathies due to pathologies. During the clinical trial, EYEG worked to assess the safety and efficacy of the treatment by comparing the OBG arm to an arm that was provided with a commercially available rewetting eye drop.
In order to assess the treatment, corneal fluorescein staining and symptomology at day 7, 14, and 28 were looked into. After two-weeks randomization occured where all subjects were taking the rewetting eye drops only.
In the release, EYEG said that its OBG eye drops achieved a statistically significant improvement in symptoms as quickly as day 7 and the improvements lasted through day 28. Also, at day 28, OBG-treated patients saw a 30% decrease from baseline. The rewetting eye drops group only saw a 4% improvement.
EyeGate said that staining measurements of the central cornea, a region dense in never endings, showed a reduction of up to 40% in the OGG arm compared to 23% in the rewetting eye drop arm.
In a statement, Stephen From, CEO at EYEG, had the following to offer:
We are extremely pleased with the remarkable data achieved in symptomology from our first study in PE patients. OBG showed improvement over a commercially available rewetting eye drop on each of the subcategories of the symptomology questionnaire. We are not aware of any product that has demonstrated this magnitude and speed of improvement in this patient population. Consequently, we believe that all of our data is sufficient and robust enough to create a path toward regulatory filings for approval and commercialization.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. When it comes to EyeGate Pharmaceuticals, the news proved to be overwhelmingly positive. After all, with the strong clinical results, it looks like the company’s Ocular Bandage Gel will be moving to the next levels of development and is one step closer to commercialization. So, it’s not surprising to see that excited investors are pushing the stock on a run for the top. As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (8:45), EYEG is trading at $0.50 per share after a gain of $0.19 per share or 60.28% so far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to watch EYEG very closely. In particular, we’re interested in following the company’s continued development of its OBG as the treatment seems to be yielding overwhelmingly positive results. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!