Ohr Pharmaceutical Reports Year-End Results and MAKO Clinical Study Update
Wednesday, December 20, 2017 12:23 AM
NEW YORK—Ohr Pharmaceutical Inc.
(Nasdaq:OHRP), a clinical-stage pharmaceutical company developing treatments for ophthalmic disease, reported a net loss of $23.8 million for the year ended Sept. 30, which compared with a net loss of $25.8 million in the same period of 2016, according to an announcement late last week.
As of Sept. 30, the company reported cash and cash equivalents of $12.8 million, compared with cash and cash equivalents of approximately $12.5 million as of Sept. 30, 2016.
“Our primary focus at Ohr continues to be the successful completion of the MAKO study, our ongoing clinical trial being conducted to evaluate the efficacy and safety of Squalamine in combination with Lucentis for treatment-naive patients with the wet form of age-related macular degeneration (wet-AMD),” Dr. Jason Slakter, chief executive officer, said in the announcement.
“The MAKO study enrolled a targeted population identified in the prior Phase 2 study which we believe is best suited for Squalamine combination therapy and is consistent with the mechanism of action of Squalamine and the vascular biology of the disease. We remain on track to receive and report top-line efficacy data from the MAKO study in early calendar 2018,” he said.
Among Ohr’s other operating highlights for fiscal 2017, according to the announcement, were the continued progress of the MAKO study, public offerings of stock and warrants that raised approximately $19.5 million in combined net proceeds, and the appointment of Mike Ferguson as a director and chairman of the board. Ferguson served for nearly a decade in the House of Representatives, including time as the vice chairman of the House’s health subcommittee.