Iveric Bio Inc - ISEE STOCK NEWS

IVERIC bio (Nasdaq: ISEE) will participate in a fireside chat at the Wedbush PacGrow Healthcare Conference on August 9, 2022, at 1:45 p.m. ET. CEO Glenn P. Sblendorio and COO Keith Westby will represent the company. Investors can tune in to the live webcast via the IVERIC bio website, with a replay available for 30 days post-conference. IVERIC bio focuses on developing treatments for retinal diseases, addressing significant unmet medical needs and aiming to improve patients' lives with effective solutions.

IVERIC bio, Inc. (NASDAQ: ISEE) reported on August 1, 2022, the granting of equity-based awards to two new non-executive employees as part of its 2019 Inducement Stock Incentive Plan. These inducement grants included non-statutory stock options for 65,000 shares at an exercise price of $10.51 and 11,500 restricted stock units. The options vest over four years, while the restricted stock units vest at different intervals starting from October 1, 2022. This initiative aims to enhance talent acquisition by providing competitive compensation packages.

IVERIC bio reported significant progress and financial updates as of Q2 2022. The GATHER2 trial for Zimura® is on schedule, with a patient retention rate of 92.5%. The company secured a non-dilutive debt financing agreement for up to $250 million, enhancing its financial stability. However, the net loss increased to $49.3 million in Q2 2022, compared to $30.1 million in Q2 2021, reflecting escalating R&D and G&A expenses. The expected topline data from GATHER2 is due in September 2022, which could lead to commercial availability pending regulatory approval.

IVERIC bio, Inc. (Nasdaq: ISEE) has secured a $250 million term loan debt financing facility from Hercules Capital (NYSE: HTGC) and Silicon Valley Bank. This non-dilutive financing strengthens the company's balance sheet, allowing it to fund the potential launch of Zimura® (avacincaptad pegol) in the U.S., pending regulatory approval. The initial $50 million will be drawn in July 2022, with additional funds contingent on achieving performance milestones. Iveric plans to report data from the GATHER2 clinical trial in September 2022, crucial for Zimura's development.

Iveric Bio (NASDAQ: ISEE) will report its second quarter 2022 financial results on July 26, 2022, followed by a conference call at 8:00 a.m. ET. The call will include a discussion of financial results and a general business update. Interested participants can join the call by dialing 1-888-317-6003 (USA) or 1-412-317-6061 (International), using passcode 0932671. A replay will be available after the call. Iveric Bio focuses on developing treatments for retinal diseases, addressing significant unmet medical needs.

IVERIC bio, Inc. (ISEE) announced promising results from a post-hoc analysis of the GATHER1 clinical trial, demonstrating that Zimura significantly reduced geographic atrophy (GA) lesion growth compared to a sham treatment. This analysis highlighted that 84% of patients had lesions close to the foveal center, reinforcing Zimura's potential benefits for a broad patient population. Safety data showed no drug-related adverse events. The company is set to release topline data from the GATHER2 trial in Q3 2022, with plans to seek regulatory approval if results are favorable.

Iveric Bio has entered into an exclusive global license agreement with DelSiTech to develop new formulations of Zimura (avacincaptad pegol) using DelSiTech's silica-based sustained release technology. This collaboration aims to expand Zimura's lifecycle for treating age-related macular degeneration (AMD). Iveric Bio will pay an upfront fee of €1,250,000, alongside milestone payments and royalties. The company is also planning a clinical trial for Zimura in intermediate AMD, pending regulatory feedback, as it anticipates topline data from the GATHER2 trial in Q3 2022.

Iveric Bio, Inc. (NASDAQ: ISEE) announced on July 1, 2022, the granting of equity-based awards to a newly-hired employee under its 2019 Inducement Stock Incentive Plan. The inducement includes a non-statutory stock option for 35,000 shares at an exercise price of $9.40 and 3,000 restricted stock units. The stock option vests over four years, while the restricted units vest in two stages—50% on October 1, 2022, and the remainder on April 1, 2023. These grants serve as a material inducement for the employee's acceptance of the role.

IVERIC bio, Inc. (ISEE) announced positive results from a post-hoc analysis of the GATHER1 clinical trial for Zimura (avacincaptad pegol), focusing on enhanced OCT image analysis. The analysis revealed a 30% reduction in OCT-measured geographic atrophy (GA) growth with Zimura at 12 months, aligning with Fundus Autofluorescence (FAF) results. Additionally, a 22% decrease in progressive ellipsoid zone (EZ) loss was noted at 18 months. These findings reinforce Zimura's potential as a GA treatment, supporting its further evaluation as an important endpoint in age-related macular degeneration (AMD).