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Iveric Bio, Inc. (NASDAQ: ISEE) is a prominent biopharmaceutical company dedicated to the development of innovative therapeutics targeted at diseases affecting the back of the eye. The company's primary focus is on age-related macular degeneration (AMD), a significant cause of vision loss among older adults. Iveric Bio is at the forefront of ophthalmology research, advancing drugs that could potentially transform the treatment landscape for retinal diseases.
One of the company's notable projects is the development of Avacincaptad Pegol, aimed at treating Geographic Atrophy secondary to AMD, a condition that leads to irreversible blindness. This drug is currently in advanced stages of clinical trials, poised to make a substantial impact upon receiving regulatory approval.
In a significant development, on July 11, 2023, Iveric Bio was acquired by Astellas Pharma Inc. (TSE: 4503). This acquisition, valued at approximately $5.9 billion, marks a strategic expansion for Astellas into the ophthalmology sector. The merger combines Iveric Bio's extensive expertise and promising drug pipeline with Astellas' robust global presence and resources, setting the stage for accelerated progress in developing and commercializing treatments for retinal diseases.
Following the acquisition, Iveric Bio's common stock was delisted from NASDAQ. The successful completion of this acquisition signifies a new chapter for Iveric Bio, with enhanced capabilities to bring groundbreaking ophthalmic therapies to market.
Iveric Bio remains committed to its mission of addressing unmet medical needs in eye care through pioneering research and development. As a subsidiary of Astellas, it is well-positioned to leverage combined strengths, promising a future where advancements in treatment for retinal diseases can significantly improve patient outcomes globally.
For more detailed and up-to-date information, investors and stakeholders are encouraged to follow the latest news releases and updates from both Iveric Bio and Astellas Pharma.
IVERIC bio, Inc. (Nasdaq: ISEE) reported its fourth-quarter and full-year results for 2020, showcasing progress in its GATHER2 clinical trial for Zimura®, aimed at treating geographic atrophy (GA) related to age-related macular degeneration (AMD). Enrollment for GATHER2 is ahead of schedule, with completion expected by Q3 2021. Financially, the company faced a net loss of $25.4 million for Q4 2020, totaling $84.5 million for the year. Despite increased R&D expenses, IVERIC bio maintains sufficient cash reserves to support operations into 2024.
On March 1, 2021, Iveric Bio (Nasdaq: ISEE) granted non-statutory stock options to purchase 41,500 shares to two new non-executive employees as part of the 2019 Inducement Stock Incentive Plan. The options have an exercise price of $6.49 per share, equating to the company's closing stock price on the grant date. Vesting occurs over four years, starting with 25% on March 1, 2022, and continuing monthly thereafter, contingent upon the employees' ongoing service. This grant aims to enhance recruitment efforts for the company, which focuses on treating retinal diseases.
IVERIC bio (Nasdaq: ISEE) announced that CEO Glenn P. Sblendorio and Chief Strategy Officer Pravin U. Dugel, M.D., will engage in a fireside chat at the Cowen 41st Annual Health Care Conference on March 4 at 9:50 a.m. ET. Investors and the public can access a live webcast on the Iveric Bio website and an archived replay will be available for two weeks post-conference. Iveric Bio focuses on innovative treatments for retinal diseases, aiming to address significant unmet medical needs.
IVERIC bio, Inc. (Nasdaq: ISEE) will announce its fourth quarter and full year 2020 financial results on March 3, 2021. Following the release, the management team will host a live conference call at 8:00 a.m. ET to discuss the financial outcomes and general business updates. Investors can access the call by dialing 888-221-3881 (USA) or 323-794-2590 (International) with passcode 9597743. The call will also be available via webcast on the IVERIC bio website.
The company focuses on developing treatments for retinal diseases, highlighting its commitment to addressing significant unmet medical needs.
IVERIC bio, Inc. (Nasdaq: ISEE) granted non-statutory stock options to purchase 28,000 shares to two new non-executive employees on January 4, 2021. This issuance, part of the 2019 Inducement Stock Incentive Plan, serves as a material incentive for the employees' acceptance of their roles. The options have an exercise price of $6.895 per share, mirroring the company's closing share price on that date. Each option vests over four years, contingent upon continued employment.
IVERIC bio focuses on developing innovative treatments for retinal diseases.
IVERIC bio, Inc. (Nasdaq: ISEE) will have CEO Glenn P. Sblendorio present at the 39th Annual J.P. Morgan Healthcare Conference on January 14, 2021, at 2:50 p.m. Eastern Time via a virtual session. Investors and the public can access the live webcast on IVERIC bio's website, with a replay available for two weeks post-conference. The company focuses on developing innovative treatments for retinal diseases, emphasizing their commitment to finding solutions for conditions with significant unmet medical needs.
IVERIC bio, Inc. (NASDAQ: ISEE) announced the grant of equity-based awards to a newly hired employee as part of its 2019 Inducement Stock Incentive Plan. The compensation committee approved the stock option to purchase 34,000 shares at an exercise price of $6.37 per share, with a ten-year term and vesting over four years. An additional grant of 7,000 restricted stock units will vest fully on December 3, 2021. These grants are designed to incentivize employee retention and align with the company's mission to develop treatments for retinal diseases.
IVERIC bio reported financial results for Q3 2020, highlighting significant progress in its clinical programs for Zimura, a treatment for geographic atrophy related to age-related macular degeneration (AMD). The Company achieved positive results from the GATHER1 Phase 3 trial and initiated GATHER2 enrollment. As of September 30, 2020, cash and equivalents totaled $231.1 million, projected to last through mid-2024. R&D expenses rose to $18.8 million, contributing to a net loss of $25.5 million for the quarter.
IVERIC bio (Nasdaq: ISEE) announced its participation in several upcoming virtual investor conferences in November 2020. Key events include the 29th Annual Credit Suisse Virtual Healthcare Conference on November 10, and the Stifel 2020 Virtual Healthcare Conference on November 16, where Dr. Pravin U. Dugel will present an overview of the company. Additionally, IVERIC will participate in the Eyecelerator 2020 Virtual Conference on October 30 and November 6, discussing retinal diseases and treatment options. Webcasts will be available on the company's website.
IVERIC bio announced it will report its third quarter 2020 financial results on November 2, 2020. A live conference call will follow at 8:00 a.m. Eastern Time to discuss the financial outcomes and provide a business update. Participants can join via phone or listen to the webcast on the company's website. IVERIC bio focuses on developing novel treatments for retinal diseases, including therapeutic and gene therapy candidates for age-related and inherited diseases. Additional information can be found on their website.
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