Business
Kiora Pharmaceuticals Announces Q2 2023 Earnings and Business Update, Highlighting Pipeline Updates and Clinical Development Progress
Positive Preliminary Data Reported in Q2 Demonstrated Clear Clinical Proof-of-Concept of KIO-301 in the Ongoing Phase 1 Study in Retinitis Pigmentosa
About this update from Kiora Pharmaceuticals, Inc.
[{"type":"text","content":"\nPositive Preliminary Data Reported in Q2 Demonstrated Clear Clinical Proof-of-Concept of KIO-301 in the Ongoing Phase 1 Study in Retinitis Pigmentosa Supporting Advancement to Planned Higher Doses with Full Topline Results Expected in Q4 2023\nData Supports Hypothesized Mechanism of Action of KIO-301, Opening Potential to Treat Other Orphan Retinal Disease Programs, Including Choroideremia and Stargardt's Disease\nManagement Sharpens Clinical Development Focus on Rare Retinal Diseases and Will Seek Partnerships to Advance its Promising but Non-Core Anterior Segment Therapeutic Applications\n\nEncinitas, California--(Newsfile Corp. - August 8, 2023) - Kiora Pharmaceuticals, Inc. (NASDAQ: KPRX) (\"Kiora\" or the \"Company\") today announced its second quarter 2023 financial results, reported on the progress of its clinical development pipeline, and provided an update on the Company's sharpened strategic focus. The most notable milestone of the second quarter was the reported preliminary data from the ABACUS Phase 1b clinical trial in patients with Retinitis Pigmentosa. The data clearly demonstrated that the lowest dose of KIO-301 is safe and tolerable while driving positive objective and subjective impact on vision for the initial trial participants. This reinforced the Company's plans to complete enrollment using the higher doses of KIO-301. The Company plans to complete all dosing in Q3 and expects to announce topline results across all patients and doses at an upcoming ophthalmic medical conference in the fourth quarter.\nThe ABACUS study's preliminary results, along with subsequent internal analysis of additional data, were a major contributor to the Company's decision to further sharpen its clinical development focus exclusively on rare retinal diseases. Specifically, the Company plans to expand clinical development of KIO-301 to include Choroideremia and Stargardt's Disease. These diseases, like Retinitis Pigmentosa, result in the degeneration of retinal photoreceptors but preserve the downstream retinal ganglion cells, which are the target of KIO-301's mechanism-of-action. All three indications represent rare, orphan diseases for which there are no available treatments. As a result, the Company may pursue cost-effective and expedited paths to market.\nAs part of this new focus, Kiora will shift clinical development resour...