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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 (Nasdaq: ISEE) announced that CEO Glenn P. Sblendorio will participate in a fireside chat at the Cowen 42nd Annual Health Care Conference on March 7, 2022, at 11:10 a.m. ET. Investors and the public can access the live webcast on the Iveric Bio website, with an archived replay available for 30 days post-event. Iveric Bio focuses on developing innovative treatments for retinal diseases, aiming to improve patient outcomes. For more details, visit www.ivericbio.com.
Iveric Bio reported its fourth quarter and full year 2021 results, highlighting strong progress in the GATHER2 trial for Zimura®, a treatment for geographic atrophy (GA). The trial maintains a patient retention rate exceeding 90%, with 84% completion for year one. The company is preparing for an NDA filing and plans to initiate a Phase 3 trial for intermediate AMD in late 2022. Financially, Iveric recorded a net loss of $33 million in Q4 2021, totaling $114.5 million for the year. The company holds approximately $381.7 million in cash, forecasting sufficient funds through mid-2024.
Iveric Bio (Nasdaq: ISEE) will announce its Q4 and full year 2021 financial results on February 24, 2022, followed by a conference call at 8:00 a.m. ET. The company focuses on developing treatments for retinal diseases, especially targeting age-related macular degeneration. Investors can join the call by dialing 1-888-317-6003 (USA) or 1-412-317-6061 (International) with passcode 8865993. A replay will be available for two weeks.
Iveric Bio (ISEE) announced the results of a post-hoc analysis from its Phase 3 GATHER1 clinical trial for Zimura, focusing on Geographic Atrophy (GA) progression. This analysis demonstrated a significant reduction in lesion growth in patients receiving Zimura 2 mg compared to a sham group over 18 months. The results suggest that Zimura may help preserve central vision by slowing GA progression. The company anticipates topline data from the GATHER2 trial in the second half of 2022, with potential applications for regulatory approvals if results are positive.
IVERIC Bio (ISEE) announced the presentation of new post-hoc analyses from the GATHER1 Phase 3 trial for Zimura® (avacincaptad pegol) at the Angiogenesis, Exudation, and Degeneration 2022 meeting on February 11-12, 2022. The analyses aim to assess the effectiveness of Zimura in slowing Geographic Atrophy (GA) progression related to Age-related Macular Degeneration (AMD). Presenters include experts from Duke Eye Center and Cleveland Clinic. IVERIC Bio plans to release more details during the presentations and will share slides on its website.
IVERIC bio (NASDAQ: ISEE) announced on February 1, 2022, that it granted an equity-based award to a newly-hired non-executive employee. This inducement grant consists of non-statutory stock options for 14,000 shares, with an exercise price of $14.43 per share, equating to IVERIC’s closing stock price on the grant date. The options vest over four years, beginning with 25% on February 1, 2023. The award is part of IVERIC’s 2019 Inducement Stock Incentive Plan, emphasizing its commitment to attracting talent for its research in retinal diseases.
Melinta Therapeutics announced that its President and CEO, Christine Ann Miller, has joined the Board of Directors of IVERIC bio, Inc. (NASDAQ: ISEE). This move is effective immediately and aims to bolster Iveric's leadership as it prepares for the potential launch of its treatment for age-related macular degeneration. With over 20 years of experience in life sciences, Miller's prior achievements include directing over 50 product launches at Sandoz, generating over $300 million in new annual revenue. The addition is expected to strengthen Iveric's commitment to patient outcomes.
Iveric Bio announces the election of Christine Ann Miller to its Board of Directors. With over 20 years of experience in life sciences and currently serving as CEO of Melinta Therapeutics, she brings extensive expertise in global product launches and supply chain management. Miller's past achievements at Sandoz include directing over 50 product launches generating more than $300 million in revenue. CEO Glenn P. Sblendorio expressed confidence in Miller's ability to support the company's growth and upcoming Zimura launch in retinal disease treatments.
Iveric Bio (NASDAQ: ISEE) announced on January 3, 2022, the grant of equity-based awards to eight newly-hired non-executive employees. The inducement grants consist of 178,000 non-statutory stock options and 6,500 restricted stock units. The stock options have an exercise price of $16.57, equal to Iveric's closing stock price on the grant date, and vest over four years. The grants are intended to attract talent and align employee compensation with the company's performance, reflecting Iveric's commitment to developing treatments for retinal diseases.
Iveric Bio (Nasdaq: ISEE) has announced that Dr. Pravin U. Dugel, President, will present a company overview at the H.C. Wainwright BioConnect Virtual Conference from January 10-13, 2022. The presentation will be available starting January 10 at 7:00 a.m. ET, accessible via the Investor section on the Iveric Bio website. An archived replay will be available for 30 days. Iveric Bio focuses on developing treatments for retinal diseases, particularly age-related macular degeneration.
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