NovaBay falls after dropping auriclosene for conjunctivitis
NovaBay Pharmaceuticals Inc. (NYSE-M:NBY) was off $0.44 (35%) to $0.81 on Wednesday after discontinuing development of an ophthalmic formulation of auriclosene ( NVC-422) to treat adenoviral conjunctivitis. The decision came after the product missed the primary and secondary endpoints vs. vehicle in a 450-patient Phase IIb trial in the indication. NovaBay said it will focus on developing an irrigation solution of auriclosene that is slated to enter a second Phase II trial this half for blockage and encrustation in indwelling long-term urinary catheters.
NovaBay said it also will focus on the ongoing U.S. launch of a lid and lash cleanser, as well as supporting partner China Pioneer Pharma Holdings Ltd. (HKSE:1345) with the Chinese launch of wound cleanser NeutroPhase, pending the product's approval in the country. ...