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Oculis Reports Q2 Financial Results and Provides Recent Company Update
ZUG, Switzerland, Aug. 27, 2024 (GLOBE NEWSWIRE) -- Reported positive topline results for the Phase 2b RELIEF trial of OCS-02 (licaminlimab) paving the way
About this update from Oculis Holding Ag
[{"type":"text","content":"ZUG, Switzerland, Aug. 27, 2024 (GLOBE NEWSWIRE) -- Reported positive topline results for the Phase 2b RELIEF trial of OCS-02 (licaminlimab) paving the way for potentially the first precision medicine in Dry Eye Disease (DED)Phase 2 ACUITY trial of OCS-05 in acute optic neuritis (AON) is on track for topline readout in Q4 2024Pre-NDA meeting with U.S. Food and Drug Administration (FDA) completed in August for once daily OCS-01 for the treatment of post-operative inflammation and pain following ocular surgery; Providing a clear path forward for NDA submission in Q1 2025, while randomization in Phase 3 DIAMOND-1 and DIAMOND-2 trials in diabetic macular edema (DME) is on trackCash, cash equivalents and short-term investments of $131.2 million as of June 30, 2024 provides cash runway into the 2H 2026. Oculis Holding AG (Nasdaq: OCS; XICE: OCS) (“Oculis” or the “Company”), a global biopharmaceutical company purposefully driven to save sight and improve eye care, today announced results for the quarter ended June 30, 2024, and provided an overview of the Company’s progress. Riad Sherif M.D., Chief Executive Officer of Oculis: “We made significant strides in advancing our innovative clinical programs this past quarter, demonstrating strong momentum and exceptional execution in our DIAMOND-1 and DIAMOND-2 trials with Oculis’ lead asset, OCS-01, the first eye drop in Phase 3 for DME. Additionally, we were excited to announce the positive results from the Phase 2b RELIEF trial of OCS-02 (licaminlimab) in dry eye, which showed improvements in multiple regulatory sign endpoints and materially more profound results in patients with the TNFR1 genetic biomarker. These results are potentially paving the way for the first precision medicine in dry eye disease for this heterogeneous condition, where the current treatment approach mainly consists of “trial and error”. We look forward also to the upcoming topline readout from the Phase 2 ACUITY trial in AON with OCS-05 in the fourth quarter of 2024, and to our anticipated first NDA submission with OCS-01 in post-ocular surgery in the first quarter of 2025.” Q2 2024 and Recent Highlights Clinical Highlights OCS-01 for DME: Continued positive momentum in the randomization of patients for both Phase 3 DIAMOND trials with OCS-01 eye drop in DME. Patient enrollment through the end of June exceeded the C...