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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 announced the appointment of Tony Gibney as Executive Vice President and Chief Business and Strategy Officer, effective December 13, 2021. Gibney brings over 25 years of experience in biotechnology, focusing on corporate strategy and business development. His past roles include CFO at Fog Pharmaceuticals and Executive Vice President at Achillion Pharmaceuticals. The company anticipates his leadership will enhance its development plans for Zimura, aimed at treating geographic atrophy in age-related macular degeneration. Inducement grants included stock options and restricted stock units.
IVERIC bio, Inc. (NASDAQ: ISEE) granted equity-based awards on December 1, 2021, to six newly-hired employees as part of its 2019 Inducement Stock Incentive Plan. The grants include non-statutory stock options for 160,000 shares at an exercise price of $14.12 and 21,000 restricted stock units across three tranches. The stock options have a ten-year term and vest over four years, while the restricted stock units have varying vesting schedules. These grants aim to incentivize employee retention and align compensation with performance.
Iveric Bio, trading under the symbol ISEE, announced that CEO Glenn P. Sblendorio and President Pravin U. Dugel, M.D., will participate in a fireside chat at the Stifel 2021 Virtual Healthcare Conference on November 16, 2021, at 10:40 a.m. ET. Investors can access the audio webcast on the Iveric Bio website's Investor/Events & Presentations section, with an archived replay available for 30 days following the event. Iveric Bio focuses on developing treatments for retinal diseases, including age-related macular degeneration.
Iveric Bio (ISEE) announced the completion of enrollment in its GATHER2 Phase 3 clinical trial for Zimura® aimed at treating geographic atrophy due to age-related macular degeneration (AMD). Patient retention exceeds expectations with an injection fidelity rate over 90%. Preparations for a New Drug Application (NDA) are underway, anticipating topline data in late 2022. The FDA has approved a Special Protocol Assessment for GATHER2, further enhancing the trial's validity. Financially, the company reported a net loss of $24.6 million for Q3 2021, with cash reserves projected to fund operations until mid-2024.
Iveric Bio (Nasdaq: ISEE) will present at the Credit Suisse 30th Annual Virtual Healthcare Conference on November 9, 2021, at 11:20 a.m. ET. CEO Glenn P. Sblendorio and President Pravin U. Dugel, M.D. will participate in a fireside chat, which can be accessed via www.ivericbio.com. An archived replay will be available post-conference for 30 days. Iveric Bio focuses on innovative treatments for retinal diseases, aiming to significantly improve patient outcomes.
Iveric Bio (NASDAQ: ISEE) announced the grant of equity-based awards on November 1, 2021, to two newly-hired, non-executive employees under its 2019 Inducement Stock Incentive Plan. These awards include non-statutory stock options for 115,000 shares with an exercise price of $17.81, and 16,000 restricted stock units. The options vest over four years, while the restricted stock units have varying vesting schedules. This initiative aims to attract talent to advance the company’s focus on developing treatments for retinal diseases.
Iveric Bio (NASDAQ: ISEE) will release its third quarter 2021 financial results on November 9, 2021, at 8:00 a.m. ET. A conference call will follow to discuss these results and provide a business update. Interested participants can join by calling 1-888-317-6003 (USA) or 1-412-317-6061 (International), using passcode 0259351. The call will be available via audio webcast on the Iveric Bio website. The company is focused on developing treatments for retinal diseases, including age-related macular degeneration.
IVERIC bio, Inc. (ISEE) has priced an upsized public offering of 9,000,000 shares of common stock at $16.75 per share, expected to generate gross proceeds of approximately $150.8 million. The offering includes an underwriter option for 1,350,000 additional shares. Closing is anticipated on or about October 26, 2021, subject to customary conditions. Morgan Stanley, Cowen, Stifel, and Credit Suisse are the book-running managers. The offering is conducted under an automatically effective registration statement, and details are to be filed with the SEC.
IVERIC bio, Inc. (ISEE) is initiating an underwritten public offering of $125 million in common stock, with a 30-day option for underwriters to purchase an additional 15%. The offering's completion is contingent upon market conditions, and specifics on size and terms remain uncertain. Morgan Stanley, Cowen, Stifel, and Credit Suisse are managing the offering. A shelf registration was filed with the SEC on October 21, 2021, and interested parties can find related documentation and prospectuses on the SEC's website.
Iveric Bio (NASDAQ: ISEE) announced on October 1, 2021, the granting of equity-based awards to eight newly-hired employees as part of its 2019 Inducement Stock Incentive Plan. These inducement grants include non-statutory stock options for 375,000 shares and two tranches of 49,000 restricted stock units. The stock options have an exercise price of $16.65 and will vest over four years. Iveric Bio focuses on developing innovative treatments for retinal diseases, aiming to address significant unmet medical needs in the field.
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