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(Reuters) -Lenz Therapeutics stated on Wednesday its lead experimental drug being examined in sufferers with a standard age-related eye dysfunction confirmed enchancment in nearsightedness in a late-stage examine.
Shares of the corporate, which gained as a lot as 17% earlier within the day, had been final buying and selling 4.2% larger at $21.89.
The once-daily eye drop, LNZ100, is being examined to deal with presbyopia, which causes incapacity to give attention to close to objects and impacts an estimated 128 million folks in the USA, in accordance with the corporate.
Its therapy choices embody carrying studying glasses, contact lenses and refractive surgical procedure. Abbvie’s Vuity bagged the U.S. FDA approval in 2021 as the primary eye drop for presbyopia. Corporations comparable to Eyenovia (NASDAQ:) and Ocuphire Pharma are additionally growing therapies for the illness.
The late-stage examine testing Lenz’s eye drop comprised two six-week efficacy trials and a six-month security trial. The trials enrolled a complete of 1,059 individuals starting from ages 45 to 75 years.
The therapy helped enhance close to imaginative and prescient with out impacting distant imaginative and prescient for 71% of the sufferers at three hours post-treatment.
Based mostly on the trial, the San Diego, California-based firm plans to submit a U.S. advertising software for LNZ100 in mid-2024.
Lenz stated its one other drug, LNZ101, additionally confirmed comparable outcomes however didn’t present superiority to LNZ100.
Rival Eyenovia is testing its drug supply machine Optejet in late-stage trials with its experimental drug to deal with presbyopia. Ocuphire can be testing its eye drop in a late-stage trial.
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