OHR Pharmaceutical Inc (NASDAQ:OHRP), an ophthalmology research and development company, today announced positive results from a preclinical study investigating its proprietary SKS sustained release technology. In an animal model used to evaluate ophthalmic compounds, it was shown that sustained supratherapeutic levels of active drug could be achieved in target ocular tissues. These observations were made at all time points in the study, demonstrating a prolonged pharmacokinetic profile. The data are expected to be presented at a scientific conference in 2016.
“We are extremely pleased and encouraged by the performance of our sustained release platform technology in this in vivo study. The versatility of this delivery technology makes it well suited to deliver hydrophilic or hydrophobic small molecules, as well as proteins with complex structures,” stated Dr. Glenn Stoller, Chief Scientific Officer at Ohr. “We look forward to advancing this technology into clinical trials.”
Dr. Jason Slakter, Chief Executive Officer at Ohr, further commented, “The results of this study serve as important validation for our SKS sustained release technology which holds the promise of improving the standard of care in a number of ocular conditions by allowing for physician administration of drugs at convenient treatment intervals. Our goal with this platform technology is to develop a pipeline of drug candidates that can enhance patient compliance, reduce treatment burden and improve visual outcomes.”
The SKS sustained release technology was designed to develop best-in-class drug formulations for ocular disease. The technology employs micro fabrication techniques to create nano and microparticle drug formulations that can provide sustained and predictable release of a therapeutic drug over a 3 – 6 month period. Ohr has four active pipeline programs underway in glaucoma, steroid induced glaucoma, allergic conjunctivitis and protein delivery for retinal diseases. The technology was designed to circumvent many of the challenges associated with current drug delivery approaches with the ability to sustain therapeutic drug levels for both small molecules and biologics for extended durations. These microparticles can be administered via multiple delivery routes for both anterior and posterior segment ocular disorders. (Original Source)
Shares of OHR Pharmaceutical are trading at $3.78, up $0.21 or 5.89%. OHRP has a 1-year high of $12.31 and a 1-year low of $2.02. The stock’s 50-day moving average is $3.36 and its 200-day moving average is $2.97.
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 August 7. The current price target represents a potential upside of 607.5% from where the stock is currently trading. According to TipRanks.com, Aschoff has a total average return of -0.6%, a 43.9% success rate, and is ranked #2764 out of 3642 analysts.
Ohr Pharmaceutical Inc is a pharmaceutical company engaged in the development of the Company’s previously acquired compounds.