Ocular Therapeutix rises on OTX-TP update

Ocular Therapeutix Inc. (NASDAQ:OCUL) jumped $2.41 (39%) to $8.67 on Wednesday after it announced plans for two Phase III placebo-controlled trials of OTX-TP to treat glaucoma or ocular hypertension. The company said that based on a meeting with FDA, it does not expect to include timolol as an active control in the Phase III program. In a previous study, timolol outperformed OTX-TP, a hydrogel-based punctum plug that delivers sustained-release travoprost over 90 days.

The company said it expects the Phase III trials will use a non-drug eluting hydrogel-based intracanalicular depot as a placebo comparator, and does not expect to include either active or placebo eye drops. The studies' primary endpoint will likely be a "superior and clinically meaningful reduction" in intraocular pressure (IOP) vs. the placebo depot, according to Ocular Therapeutix. ...