Eyegate Pharmaceuticals Inc. (NASDAQ: EYEG) shares are trading higher after the company received FDA approval to initiate its follow-on pilot study for punctate epitheliopathies (PE).
The study will use the Ocular Bandage Gel eye drop to treat patients with PE, which can be associated with dry eyes.
"We are excited to get underway with another clinical study and very pleased with our continued cooperation and collaboration with the FDA," said CEO Stephen From. "Pending the success of our PE agenda, we believe our unique OBG eye drop will be the first approved eye drop in the U.S. for the treatment of PE. Following the data readout of this pilot study, which we expect by year-end, we will re-convene with the FDA to establish the most suitable endpoint to use in a pivotal study."
Eyegate Pharmaceuticals shares were trading up 12.5% at 25 cents in Monday’s pre-market session. The stock has a 52-week high of 64 cents and a 52-week low of 20 cents.
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