SAN FRANCISCO, CA--(Marketwired - Apr 4, 2013) - Vista Partners announced today that it has updated coverage on Ohr Pharmaceutical, Inc. ( OTCBB : OHRP ) ("The Company" or "OHR") with a twelve month price target of $3.50. Ross Silver, Principal Analyst at Vista Partners, stated, "About 200,000 new cases of wet AMD are diagnosed each year in North America. As a result of the aging baby boomer population, the National Eye Institute estimates that the prevalence of advanced AMD will grow to nearly 3 million by the end of the next decade." Mr. Silver continued, "OHR is focused on developing Squalamine Eye Drops, in a Phase 2 trial, for the treatment of the wet form of age-related macular degeneration (Wet-AMD). Therapies for Wet-AMD such as ranibizumab (Lucentis®) sold by Genentech (acquired by Roche), as well as Regeneron's aflibercept (Eylea®) intravitreal injections, have become the market leaders in treating Wet-AMD and both therapies combined garnered approximately $5B of revenues in 2012. OHR's Wet-AMD clinical candidate Squalamine eye drops would seem to present a significant advantage relative to the aforementioned therapies considering the delivery method which is self-administered eye drops. Both Lucentis® and Eylea® require an injection into the back of the eye. In 2012, Squalamine Eye Drops were awarded Fast Track designation by the U.S. Food and Drug Administration (FDA) for its potential treatment of Wet-AMD. The Squalamine Eye Drop program has the potential to create a monumental shift in the way patients are treated for Wet-AMD."
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