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

Vandana Singh
1 min read
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In this article:

  • ProQR Therapeutics N.V. (NASDAQ: 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 (NYSE: 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.

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