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.

 

 

Need Deeper Analysis? Sign up for Market Scope's monthly newsletter to get in-depth coverage of the ophthalmic market, including quarterly procedure volumes based on survey data and meeting coverage from around the world.

Recent Ophthalmic News

US Health Secretary Alex Azar Takes Aim at Rebates in US Senate Hearing

Beyeonics Surgical Raises $11.5 Million in Initial Funding Round

MeiraGTx Raises $75 Million in Initial Public Offering

GenSight to Pursue Approval for LHON Gene Therapy Candidate, Despite Phase III Setback

Optovue Receives FDA Clearance for AngioAnalytics, First OCT Angiography Metrics

Nexy Robotic Retinal Imaging System Receives FDA Clearance

Ocutrx Receives US Patent for Oculenz AR Glasses for Macular Degeneration

Allergan’s Bimatoprost SR Demonstrates Noninferiority to Timolol in Phase III Glaucoma Study

KKR to acquire Envision Healthcare, Including Amsurg ASC Business

Ophthalmologist Carmen Puliafito, MD, Seeks to Regain Medical License

Avedro Gains J Code for Photrexa Formulations in Preliminary CMS Decision

EyeGate Seeks to Study Ocular Bandage Gel in Punctate Epitheliopathy

Nicox, Ironwood to Collaborate on Novel Ophthalmic Treatments

US FDA Approves MDGH’s Moxidectin for Treatment of River Blindness

Bausch + Lomb Enrolls First Patient in Trial for enVista MX60EF Trifocal IOL

Cincinnati Eye Institute Partners with Private Equity Firm to Pursue National Expansion

Ophthotech Enters Gene Therapy Deals with University of Florida, University of Pennsylvania

Teva’s Launches Generic Version of Restasis in Canada

Clearside’s Phase II Trial for DME Candidate Meets Primary Endpoint

Orasis Raises $13 Million in Series B Financing

Coming soon

2018 Glaucoma Device Report: A Global Market Analysis for 2017 to 2023