Eyenovia Mulls Options After Phase 3 Study Failure

Dow Jones11-15 20:21

By Colin Kellaher

Eyenovia on Friday said it is exploring its strategic options following the failure of a late-stage study of its proposed treatment for nearsightedness in children.

The ophthalmic technology company said it is ending the Phase 3 study of a drug-device combination of low-dose atropine in its Optejet dispensing platform as a potential treatment for pediatric progressive myopia after an independent review found that the trial wasn't meeting its primary three-year efficacy endpoint.

Eyenovia said it will now reduce expenses and consider a variety of options to maximize value for its shareholders, including a business combination, reverse merger or asset sales.

Trading in shares of the New York company, which closed Thursday at 34 cents, was halted premarket on Friday.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

November 15, 2024 07:21 ET (12:21 GMT)

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