Welcome to our dedicated page for Kiora Pharmaceuticals news (Ticker: KPRX), a resource for investors and traders seeking the latest updates and insights on Kiora Pharmaceuticals stock.
Kiora Pharmaceuticals, Inc. (NASDAQ: KPRX) is a clinical-stage biotechnology company committed to the development and commercialization of innovative treatments for orphan retinal diseases. The company's lead product candidate, KIO-301, is aimed at treating inherited retinal diseases such as retinitis pigmentosa, choroideremia, and Stargardt disease. KIO-301 is a molecular photoswitch with the potential to restore vision in patients suffering from inherited and age-related retinal degeneration.
Kiora’s second key asset, KIO-104, is being developed to treat posterior non-infectious uveitis. It is a next-generation, non-steroidal, immuno-modulatory, small-molecule inhibitor of dihydroorotate dehydrogenase, with the promise of reducing retinal inflammation without the adverse effects associated with systemic anti-inflammatory drugs or chronic steroid use.
Most recently, Kiora announced its third quarter 2023 financial results and discussed the advancement of KIO-301 for other inherited retinal diseases. The ABACUS-1 study, a Phase 1b clinical trial of KIO-301, demonstrated safety and tolerability, along with significant improvements in visual field and functional vision. These promising results have paved the way for the company to initiate the ABACUS-2 trial, a Phase 2 study involving up to 20 patients with retinitis pigmentosa.
The company also entered into a strategic development and commercialization agreement with Théa Open Innovation (TOI), providing up to $285 million in potential milestone payments, alongside reimbursement of research and development expenses. This partnership will help Kiora accelerate the development and commercialization of KIO-301 globally, excluding Asia.
Moreover, Kiora announced a successful securities purchase agreement, raising up to $45 million to support its ongoing development activities. Recent strategic partnerships and financial maneuvers are expected to fund the company’s operations through 2026, offering a robust financial foundation for future growth.
Operating from Encinitas, California, Kiora continues to pioneer in the biotech space, aiming to bring transformative therapies to market for patients suffering from rare retinal diseases. The company remains focused on delivering innovative solutions that address significant unmet medical needs in ophthalmology.
Kiora Pharmaceuticals, Inc. (NASDAQ: KPRX) reported strong Q1 2024 financial results and updates on its retinal disease treatment pipeline. With $31.3 million in cash, Kiora is well-positioned to advance KIO-301 and KIO-104 into mid-stage clinical trials. The partnership with Théa Open Innovation (TOI) allows for efficient capital allocation. KIO-301 targets inherited retinal disorders, while KIO-104 addresses retinal inflammatory diseases. Positive milestones include successful Phase 1 trials and a strategic partnership with TOI. Financially, Kiora ended Q1 2024 with $31.3 million in cash, $16 million in revenue, and a net income of $13.5 million.
Kiora Pharmaceuticals (NASDAQ: KPRX) will be presenting at The Citizens JMP Life Sciences Conference on May 14th, 2024. Investors can access the online presentation live on the company's website and replay it for 90 days.
Kiora Pharmaceuticals released additional clinical data for KIO-301, a small molecule photoswitch, showing a significant increase in brain activity in the visual cortex of patients with retinitis pigmentosa. The data from the ABACUS-1 trial indicated improvements in visual field, visual acuity, and functional vision, along with an increase in neural activity that aligns with these improvements. The results were presented at the ARVO annual meeting by Professor Robert James Casson, supporting the drug's potential to restore vision.
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