IVERIC bio Announces Positive Zimura 18 Month Data Supporting the 12 Month Efficacy Findings: Continuous Positive Treatment Effect with Favorable Safety Profile in Geographic Atrophy Secondary to Age-Related Macular Degeneration in a Phase 3 Trial.
-----------------------------------------------------------
Zimura's use reduced the progression of GA versus placebo. At the 18-month mark, patients receiving the 2 mg dose of Zimura had a 28% relative benefit when compared to the control arm of the study.
- 28% Relative Benefit for Zimura 2 mg at 18 Months -
- Second Phase 3 Clinical Trial to Initiate this Month -
The 18 month data supports the previously announced 12 month data from this trial, at which time point Zimura met the pre-specified primary efficacy endpoint with statistical significance.
investors.ivericbio....h-data-supporting-12
To confirm results from this trial, the biotech company expects to begin enrolling patients in a second phase 3 study this month. If this new trial also shows a benefit versus placebo after 12 months, management intends to file for Food and Drug Administration (FDA) approval. Since this trial will enroll hundreds of patients, management announced plans to raise $50 million via a stock offering. Today Iveric Bio announced a much larger offering that could generate gross proceeds of $143.9 million if everything goes according to plan.
Now what
Geographic atrophy can lead to blindness, and currently there aren't any drugs on the market that specifically target this condition. Iveric Bio estimates its target market is 159,000 patients per year in the U.S. and up to 5 million patients globally, so Zimura could generate significant sales if this upcoming study pans out. Although there's no guarantee of success, the fact that it was able to upsize its offering suggests investors are optimistic.
IVERIC bio, Inc. Announces Pricing of Upsized Public Offering of Common Stock and Pre-Funded Warrants
investors.ivericbio....blic-offering-common
-----------------------------------------------------------
Zimura's use reduced the progression of GA versus placebo. At the 18-month mark, patients receiving the 2 mg dose of Zimura had a 28% relative benefit when compared to the control arm of the study.
- 28% Relative Benefit for Zimura 2 mg at 18 Months -
- Second Phase 3 Clinical Trial to Initiate this Month -
The 18 month data supports the previously announced 12 month data from this trial, at which time point Zimura met the pre-specified primary efficacy endpoint with statistical significance.
investors.ivericbio....h-data-supporting-12
To confirm results from this trial, the biotech company expects to begin enrolling patients in a second phase 3 study this month. If this new trial also shows a benefit versus placebo after 12 months, management intends to file for Food and Drug Administration (FDA) approval. Since this trial will enroll hundreds of patients, management announced plans to raise $50 million via a stock offering. Today Iveric Bio announced a much larger offering that could generate gross proceeds of $143.9 million if everything goes according to plan.
Now what
Geographic atrophy can lead to blindness, and currently there aren't any drugs on the market that specifically target this condition. Iveric Bio estimates its target market is 159,000 patients per year in the U.S. and up to 5 million patients globally, so Zimura could generate significant sales if this upcoming study pans out. Although there's no guarantee of success, the fact that it was able to upsize its offering suggests investors are optimistic.
IVERIC bio, Inc. Announces Pricing of Upsized Public Offering of Common Stock and Pre-Funded Warrants
investors.ivericbio....blic-offering-common