ThromboGenics falls after staying independent

ThromboGenics N.V. (Euronext:THR) fell EUR 4.58 (32%) to EUR 9.80 on Tuesday after announcing it will remain independent after a review of strategic options, including a potential sale. In February, the company hired Morgan Stanley to explore strategic options as a result of a struggle to gain uptake in the U.S. of its sole marketed product, Jetrea ocriplasmin. The ophthalmic drug is approved in the U.S. to treat symptomatic vitreomacular adhesion (VMA) and in the EU to treat vitreomacular traction (VMT) (see BioCentury, March 3).

ThromboGenics said it plans to pursue a U.S. commercial partner for Jetrea, which the company launched in the country in January 2013. Jetrea had 1H13 sales of EUR 2.5 million ($16.3 million), and in August, ThromboGenics said it expected similar sales in 2H13. The company has not reported 2013 sales. The Alcon Inc. ophthalmic unit of Novartis AG (NYSE:NVS; SIX:NOVN) has ex-U.S. commercialization rights to the drug, but doesn't break out sales. ...