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Dec 31, 2020
Ocuphire Q4 2020 Earnings Report
Ocuphire's financial results for the full year 2020 were announced, and a corporate update was provided. The company completed a reverse merger, raised over $21 million, and advanced its clinical programs despite COVID-19 challenges.
Key Takeaways
Ocuphire Pharma reported a net loss of $24.6 million for the year ended December 31, 2020. The company's cash and cash equivalents totaled approximately $16.4 million. Key milestones included becoming a Nasdaq-listed company and advancing its Nyxol® and APX3330 programs.
Completed reverse merger with Rexahn Pharmaceuticals and Nasdaq listing.
Raised $21.15 million in a private placement.
Initiated multiple Phase 3 and Phase 2 clinical trials.
Net loss attributable to common stockholders for the year ended December 31, 2020 was $24.6 million.
Ocuphire
Ocuphire
Forward Guidance
Ocuphire anticipates key milestones including Phase 3 MIRA-2 trial data in March 2021, Phase 2 VEGA-1 trial data by the end of Q2 2021, Phase 3 LYNX-1 trial data by the end of Q3 2021, and Phase 2 ZETA-1 trial enrollment initiation in Q1 2021.
Positive Outlook
- Phase 3 MIRA-2 trial investigating Nyxol for Reversal of Mydriasis with top line data expected in March 2021
- Phase 2 VEGA-1 trial investigating a kit combination of Nyxol and low-dose pilocarpine for treatment of Presbyopia with top line data expected end of Q2 2021
- Phase 3 LYNX-1 trial investigating Nyxol for Night Vision Disturbances with top line data expected end of Q3 2021
- Phase 2 ZETA-1 trial investigating APX3330 for Diabetic Retinopathy and Diabetic Macular Edema: enrollment initiation expected in Q1 2021 with top line data expected early 2022