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Oyster Point Pharma has appointed Marian Macsai, M.D. as Chief Medical Officer and Eric Carlson, Ph.D. as Chief Scientific Officer, effective December 7, 2020. These appointments aim to strengthen the company’s R&D and clinical efforts, particularly regarding the lead investigational therapy, OC-01 nasal spray, for dry eye disease, expected to launch in 2021. With extensive ophthalmology experience, both executives are expected to significantly enhance Oyster Point's capabilities and support its growth initiatives.
Oyster Point Pharma (Nasdaq: OYST) announced its FDA submission to initiate a Phase 2 clinical trial for OC-01 nasal spray, targeting neurotrophic keratitis (NK), a degenerative eye disease. The OLYMPIA study aims to enroll patients in 1H 2021, evaluating the safety and efficacy of OC-01 compared to a placebo. Previously, OC-01 demonstrated potential to stimulate natural tear production. Additionally, the company plans to file a new drug application for OC-01 for dry eye disease by the end of 2020, indicating a strategic focus on addressing unmet ocular surface needs.
Oyster Point Pharma (Nasdaq: OYST), a clinical-stage biopharmaceutical company, announced its participation in the Piper Sandler 32nd Annual Virtual Healthcare Conference on December 3, 2020. The company focuses on first-in-class therapies for ocular surface diseases. Its lead product, OC-01 nasal spray, aims to treat dry eye disease by stimulating natural tear production through a novel mechanism that activates the trigeminal parasympathetic pathway.
Oyster Point Pharma announced positive results from its Phase 2 IMPERIAL trial for OC-01 nasal spray, demonstrating a significant reduction in goblet cell size, indicating effective mucin secretion for treating dry eye disease. The study, presented at the AAO 2020 Virtual Meeting, involved 18 patients and found OC-01 to be safe with mild side effects, primarily sneezing. This therapy aims to address the unmet needs of the 30 million adults in the U.S. suffering from dry eye disease. The positive findings support OC-01's potential in re-establishing tear film homeostasis.
Oyster Point Pharma (OYST) reported its Q3 2020 financial results, highlighting a cash position of $214.3 million as of September 30, 2020. The company is on track to submit a New Drug Application (NDA) for OC-01 for dry eye disease in Q4 2020, aiming for a U.S. launch in Q4 2021, pending FDA approval. Research and development expenses were $8.2 million, while general and administrative expenses increased to $8.1 million due to higher staffing and commercial planning. The net loss for the quarter was $16.3 million, or $(0.63) per share.
Oyster Point Pharma (Nasdaq: OYST) is set to report its third-quarter 2020 financial results on November 5, 2020, after market close. The announcement will be followed by a live audio webcast and conference call at 4:30 pm ET. Oyster Point Pharma focuses on developing innovative therapies for ocular surface diseases, with its lead candidate being OC-01 nasal spray for dry eye disease. This condition affects over 30 million people in the U.S., indicating a substantial market for effective treatments.
Oyster Point Pharma (Nasdaq: OYST) has announced significant changes to its Board of Directors, effective immediately. Dr. Ali Behbahani, previously a board member since July 2017, takes on the role of Chairperson, replacing Dr. Michael Ackermann, who will focus on new ventures. Michael G. Atieh joins as Chairperson of the Audit Committee, transitioning from his role as Executive Vice President at Ophthotech. The company is evolving from a clinical-stage to an emerging commercial organization, aiming for continued growth in the ocular surface disease market.
Oyster Point Pharma (Nasdaq: OYST) will participate in a live Q&A at the Morgan Stanley Virtual 18th Annual Global Healthcare Conference on September 18, 2020, at 8:00 a.m. ET. The company focuses on developing first-in-class therapies for ocular surface diseases, including its lead product, OC-01 nasal spray, designed to treat dry eye disease by activating the trigeminal parasympathetic pathway for tear film production. For the live webcast, visit the Investors and News section on their website.
Oyster Point Pharma (Nasdaq: OYST) announced it will report its second quarter 2020 financial results on August 5, 2020, before market open. A live audio webcast and conference call will follow at 8:30 am ET. Investors can access the call and replay details via phone or the company’s website, where a replay will be available for 30 days. The company is focused on developing innovative therapies for ocular surface diseases, particularly highlighting its lead candidate, OC-01 nasal spray, targeted to treat dry eye disease.
Oyster Point Pharma, a clinical-stage biopharmaceutical company, has successfully closed a public offering of 4,312,500 shares of common stock at $28.00 each, raising approximately $120.8 million. This includes the full exercise of underwriters’ options for 562,500 additional shares. J.P. Morgan, Cowen, and Piper Sandler co-managed the offering. The funds are intended to support the development of OC-01 nasal spray, aimed at treating dry eye disease, which affects over 30 million Americans. This offering follows the effective registration statement declared on May 14, 2020.
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