Eyenovia Stock Sinks As Pivotal Trial Fails To Hit Primary Efficacy Goal, Analyst Downgrades Due To Limited Capital And Near Term Upside From Pipeline
On Friday, Eyenovia, Inc. (NASDAQ:EYEN) stock is trading lower after an update from the Phase 3 CHAPERONE study evaluating its proprietary drug-device combination of low-dose atropine in the company’s Optejet dispensing platform pediatric progressive myopia.
Progressive myopia is a type of nearsightedness that worsens over time due to the eyeball growing too long.
The company said that an independent Data Review Committee (DRC) reviewed the CHAPERONE data and found that the trial is not meeting its primary endpoint of a less than 0.5 diopter progression in visual acuity over three years.
The DRC reviewed the safety and efficacy data from 252 evaluable patients. The DRC found that the rate of myopia progression was …
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