OHR Pharmaceutical Inc (NASDAQ:OHRP), an ophthalmology research and development company, announced that David M. Brown, MD, Clinical Professor of Ophthalmology at Baylor College of Medicine, vice-chair for research at the Blanton Eye Institute, Houston Methodist Hospital, and partner at Retina Consultants of Houston, has been appointed to serve as the chair of the Steering Committee for the Phase 3 clinical program of squalamine lactate ophthalmic solution, 0.2% (“Squalamine,” also known as OHR-102) in wet-AMD. The steering committee will support the Phase 3 clinical development program, enhance the interactions with clinical investigators, and help to ensure the timely achievement of study milestones
“I am excited to be playing such a key role in this important Phase 3 clinical program,” said Dr. Brown. “A topical medication with the potential to improve vision outcomes would be a tremendous advance in the treatment of patients with wet-AMD. I look forward to working with the team at Ohr in our mutual fight against blinding eye diseases.”
“Dr. Brown’s vast experience as a retinal specialist, investigator, clinical trial advisor and key opinion leader will be of great value to the Squalamine program and provide critical guidance to help advance this drug candidate through this key phase of its development as a potential topical therapy for wet-AMD in combination with Lucentis®,” said Jason S. Slakter, MD, Chief Executive Officer of Ohr Pharmaceutical. “The team at Ohr looks forward to working with David on this very exciting program.”
Dr. Brown is a world renowned thought leader on the research and treatments of age related macular degeneration (AMD), diabetic retinopathy, and retinal vein occlusion. His surgical interests are focused on macular surgery and the development of subretinal gene therapy techniques. Dr. Brown is an elected member of the Macula Society and the Retina Society and he serves on the board of directors of the American Society of Retina Specialists (ASRS). Dr. Brown’s major honors include the AAO Honor Award (2000), ASRS Honor Award (2008), ASRS Senior Honor Award (2010), AAO Senior Achievement Award (2014), and continuous election as one of the “Best Doctors in America” 2007-2015 and “Texas Super Docs” 2009-2015. He has written and published over 250 scientific papers, national meeting presentations and abstracts including many of the primary papers establishing the current standards of care for AMD, retinal vein occlusion, and diabetic retinopathy. (Original Source)
Shares of OHR Pharmaceutical Inc closed last Friday at $3.27, down $0.05 or -1.51%. OHRP has a 1-year high of $6.56 and a 1-year low of $2.02. The stock’s 50-day moving average is $3.35 and its 200-day moving average is $3.72.
On the ratings front, Brean Murray Carret analyst Jonathan Aschoff reiterated a Buy rating on OHRP, with a price target of $30, in a report issued on March 28. The current price target implies an upside of 817.4% from current levels. According to TipRanks.com, Aschoff has a yearly average return of -9.7%, a 36.9% success rate, and is ranked #3796 out of 3832 analysts.