Ocuphire Pharma reports Q2 EPS (24c), consensus (23c)

Reports Q2 revenue $3.7M, consensus $2.42M. “We continue to advance the development of oral APX3330 for diabetic retinopathy, as we prepare for our End-of-Phase 2 meeting with the FDA in the fourth quarter of 2023,” said Rick Rodgers, Interim Chief Executive Officer. “We intend to confirm with the Agency our Phase 3 registration endpoint and path to a potential approval. In the meantime, we continue to present at prominent medical forums the results from the ZETA-1 Phase 2 trial of APX3330, which demonstrated prevention of 3-step binocular worsening as measured on the diabetic retinopathy severity scale, our anticipated Phase 3 registration endpoint. If approved, we believe that APX3330 has the potential to shift the current wait-and-watch deferred treatment paradigm for NPDR without DME and be the first non-invasive, oral, early treatment for the 8 million NPDR patients who are at risk of progressing to vision-threatening complications. We are also pleased to enter into a common share purchase agreement with Lincoln Park Capital Fund, providing us with additional financial flexibility to fund further development of APX3330.”