EyeGate Pharma Stock Jumps On Initiation Of Proof Of Concept Trial With DHODH Inhibitor In Ophthalmology Indications

EyeGate Pharmaceuticals Inc EYEG has dosed the patient in Phase 2 proof-of-concept study evaluating its lead product candidate, PP-001, in patients with ocular surface inflammation due to ocular surface diseases including dry eyes.
Topline results are expected by the end of 2021.
PP-001, an immune-modulating molecule, is an inhibitor of dihydroorotate dehydrogenase (DHODH) and is first-in-class for ophthalmology indications, the company said.
The randomized, double-masked, placebo-controlled study is designed to evaluate the safety, tolerability, and efficacy of PP-001.
A total of 21 patients will receive 0.15% of PP-001 or placebo for 12 days.
The outcome of this study will guide the U.S. clinical development program for dry eye disease following the filing of the IND, which is expected in Q4 2021.
Price Action: EYEG shares up 7.35% at $4.82 during the premarket session on the last check Monday.