Lpath ophthalmic news
Lpath said it will restructure and reduce its headcount by 11 (42%) to 15 after the company’s iSONEP sphingomab failed in the Phase II Nexus trial to treat wet age-related macular degeneration (AMD). The company’s pipeline also includes Asonep, which failed a Phase IIa trial to treat renal cell carcinoma (RCC). Lpath said it is exploring additional indications for the systemic formulation of a humanized mAb against sphingosine 1-phosphate (S1P). The company has two preclinical programs: neuropathic pain candidate Lpathomab, a human mAb against lysophosphatidic acid (LPA); and Altepan, an antileukotriene antibody, which is in development to treat inflammatory bowel disease (IBD), respiratory disease and inflammation. Lpath estimates its available cash and committed funding should fund operations through June 30, 2016. At March 31, the company had $12.7 million in cash and a three-month operating loss of $3 million. The company had an operating loss of $17.8 million in 2014. ...