Inotek Stops Development of Trabodenoson after Second Failed Study

August 4, 2017: By Joan McKenna

1 Ophthalmic News

Inotek has discontinued all preclinical and clinical development activities associated with trabodenoson to preserve its cash to pursue other opportunities, the Lexington, Massachusetts, drugmaker announced Aug. 3.

Trabodenoson, in development as a treatment for glaucoma, missed its primary endpoint in separate Phase II and III studies in 2017. It was the only drug candidate in the company’s pipeline.

David Southwell, president and CEO of Inotek, said: “We continue to actively evaluate strategic alternatives to maximize shareholder value and are well-funded with $108.8 million in cash and marketable securities as of the end of the second quarter.”

The company has 19 employees, according to the Boston Business Journal.

The latest study, a Phase II trial, evaluated trabodenoson’s use in combination with Pfizer’s Xalatan (latanoprost) compared with Xalatan alone.

Inotek announced July 7 that the addition of trabodenoson to latanoprost in the Phase II trial offered no clinically meaningful advantage in reducing eye pressure over latanoprost alone. The company said it hired Weinberg Partners as a financial advisor to assist with a strategic review process.

Inotek’s stock subsequently fell to under a $1 from a high of $9.48 on Sept. 26, 2016. The firm went public in February 2015 in a downsized offering that raised $40 million.

In January, the company revealed that trabodenoson failed to achieve its primary endpoint of efficacy in IOP reduction over placebo at all time points in a Phase III trial as a monotherapy.

Inotek describes trabodenoson as a first-in-class, highly selective adenosine mimetic targeting the A1 subreceptor, which lowers IOP by augmenting the eye’s natural function of the trabecular meshwork.

 

 

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