Featured Company News – Inotek Pharma Announces Top-line Results of Phase-2 FDC Trial of Trabodenoson and Offers Corporate Update
Research Desk Line-up: XTL Biopharmaceuticals Post Earnings Coverage
LONDON, UK / ACCESSWIRE / July 11, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Inotek Pharmaceuticals Corp. (NASDAQ: ITEK), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=ITEK. The Company announced on July 07, 2017, the results of Phase-2 fixed-dose combination (FDC) trial of trabodenoson and latanoprost for the treatment of glaucoma. The trial was structured to access the benefit/risk profile of the different fixed-dose combinations being evaluated. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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Inotek Pharmaceuticals is a clinical-stage Biopharmaceutical Company focused on the discovery, development, and commercialization of therapies for glaucoma and other eye diseases.
The Combination Trial
The Phase-2 Fixed-dose Combination Trial of Trabodenoson and Latanoprost was a randomized, double-masked, Phase-2 dose-ranging trial, to assess the overall benefit or risk profile of binocular topical application of different daily doses of trabodenoson when combined with latanoprost, for eight weeks in patients with ocular hypertension of primary open-angle glaucoma. The Company's lead product candidate, trabodenoson, is a first-in-class selective adenosine mimetic currently in Phase-3 development, which was developed in the Company's laboratories and is designed to restore the eye's natural pressure control mechanism.
The Test Subject
Trabodenoson, a highly selective adenosine mimetic offers lower intraocular pressure (IOP) by augmenting the natural function of the trabecular meshwork, which is the primary outflow pathway in the eye. Latanoprost, on the other hand, a prostaglandin analog that targets the secondary uveoscleral pathway and is one of the most commonly used drugs for lowering IOP.
Patient Recruitment
The Company announced on April 11, 2017, that it has completed the active recruitment of glaucoma patients in Phase-2 FDC trial, which is viewed as an important milestone under the FDC program. The program, according to the Company, has the potential to address a larger market opportunity than monotherapy and delivers patients with a unique treatment option to help with eye pressure lowering mechanisms. The Company additionally announced that it has secured a meeting with the US FDA in Q2 FY17 to discuss the trabodenoson monotherapy program.
The Announcement
Inotek Pharma announced that the top-line results were received and analyzed over the last week, which demonstrated a good safety and tolerability profile of the fixed-dose combinations of trabodenoson and latanoprost alone. When dosed in the AM and examined on Day 28, the trabodenoson 3%/latanoprost 0.005% combination showed 1.2 mmHg additivity to commercial latanoprost. However, by Day 56, the IOP-lowering effect of latanoprost improved by 1.3 mm Hg, while the fixed dose combination of trabodenoson/latanoprost remained unchanged. The Company is evaluating the future clinical potential of trabodenoson on the basis of these results and the results reported for the Phase-3 MATrX-1 monotherapy trial.
Inotek Pharma additionally stated that it was exploring strategic alternatives, under which it has engaged Perella Weinberg Partners as a financial advisor to help with the strategic view process. There is no assurance that a transaction will result from this process and the Company does not intend to divulge additional details unless and until it has entered into a specific transaction.
Last Close Stock Review
On Monday, July 10, 2017, the stock closed the trading session at $0.95, tumbling 44.92% from its previous closing price of $1.73. A total volume of 10.58 million shares has exchanged hands, which was higher than the 3-month average volume of 681.41 thousand shares. At Monday's closing price, the stock's net capitalization stands at $26.37 million.
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