Business
Kiora Pharmaceuticals Reports Third Quarter 2021 Financial Results and Provides Business Update
SALT LAKE CITY, Nov. 15, 2021 (GLOBE NEWSWIRE) -- Kiora Pharmaceuticals, Inc. (NASDAQ: KPRX), (“Kiora” or the “Company”) today reported its financial results
About this update from Kiora Pharmaceuticals, Inc.
[{"type":"text","content":"SALT LAKE CITY, Nov. 15, 2021 (GLOBE NEWSWIRE) -- Kiora Pharmaceuticals, Inc. (NASDAQ: KPRX), (“Kiora” or the “Company”) today reported its financial results for the quarter ended September 30, 2021 and provided an update on recent corporate and operational activities. “We recently sharpened the focus of our pipeline strategy, which now includes development of KIO-301, a treatment for a rare disease with a potentially expedited and cost-efficient path to market,” said Brian M. Strem, Ph.D., President and Chief Executive Officer of Kiora. “We anticipate multiple upcoming milestones, including advancing KIO-301 into the clinic next year, reporting topline data from our exploratory dry eye study of KIO-101 and finalizing the design of our registration study for KIO-201 in early 2022.” Recently, Kiora has achieved several milestones, including the following: Pipeline Updates Acquired Bayon Therapeutics, Inc. in October, which brought in a portfolio of small molecule photoswitches, including KIO-301, which is designed to restore vision in patients with inherited and age-related degenerative retinal diseases.Completed enrollment in a Phase 1/2a proof-of-concept study in September to evaluate KIO-101 for the treatment of ocular surface inflammation. Corporate Updates Appointed Eric J. Daniels, M.D. as Chief Development Officer in October to drive the ongoing development of Kiora’s portfolio of clinical-stage assets, expanding pipeline, and proprietary platform.Raised gross proceeds of $10.75 million through a registered direct offering in August to strengthen the company’s financial position.Appointed Brian M. Strem, Ph.D. as CEO in July bringing to the Company strategic and scientific expertise in ophthalmology. Kiora’s pipeline now consists of three assets in early to late-stage development for both common and rare eye diseases. The Company anticipates achieving several milestones for these programs, including the following, which will drive value in the organization: KIO-101, previously known as PP-001, is a next-generation small molecule inhibitor of Dihydroorotate Dehydrogenase (“DHODH”). It has demonstrated picomolar potency with a validated mechanism (blocks T-cell proliferation and proinflammatory cytokine release) that may offer greater safety and tolerability than DHODH inhibitors currently on the market. Anticipated mileston...