This Penny Stock Biotech Offloads Eye Portfolio To Focus On RNA-Editing

ProQR Therapeutics N.V. PRQR said it would look for a partner to take the company’s ophthalmology portfolio further into clinical trials.
The company had said that after disappointing data from its pivotal Phase 2/3 Illuminate trial for lead candidate sepofarsen, the EMA had said that the biotech would need to conduct an additional pivotal clinical trial before filing for approval.
ProQR is also winding down multiple ongoing clinical trials with associated workforce reduction — at least five between sepofarsen and other candidate ulteversen- to preserve operating capital and until a partner is found to fund the trials.
However, the drug candidates will still be available to patients enrolled in those trials.
The company continues to execute on its global licensing and research partnership with Eli Lilly And Co LLY, focused on genetic disorders in the liver and nervous system.
ProQR would provide further updates on the Axiomer strategy in due time, including announcing internal development targets in late 2022/early 2023.
While ProQR reported a cash runway through mid-to-late 2024 back in February, now the runway has been extended into 2026,
Price Action: PRQR shares are up 0.01% at $0.84 during the market session on the last check Thursday.