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

FDA Advisory Panel to Review Aerie’s Rhopressa in October

Johnson & Johnson Vision Acquires Online Contact Lens Business Sightbox

Novartis Returns OUS Rights for Jetrea to ThromboGenics

Eyevance Licenses Zerviate from Nicox for US Commercialization

Two Eye Projects Fail to Make Final Round for $100M Grant

Ophthotech Begins Phase IIa Trial for Zimura in Wet AMD

Graybug Vision Begins Phase I/II Trial for Candidate in Wet AMD

BioTime Receives $1.56 Million NIH Grant to Advance OpRegen for Dry AMD

FDA Approves Mvasi, a Biosimilar of Avastin Co-developed by Amgen, Allergan

Carl Zeiss Meditec Launches Zeiss Clarus 500 Ultra-Widefield Fundus Imaging System in US

Imprimis Appeals to Public Sentiment in Fiery Response to Allergan Lawsuit

Roche’s Lampalizumab Fails in Phase III Study in Geographic Atrophy

Aldeyra Reports Positive Phase IIa Results for Dry Eye Candidate ADX-102

US Denies Coherus’ Petitions Challenging AbbVie’s Patent for Humira

Ocular Therapeutix Names Michael Goldstein, MD, Chief Medical Officer

PhysIOL Agrees to Acquire Majority Stake in Italian Optikon

Rayner Creates US Subsidiary in New York

Inotek to Merge with Gene Therapy Startup Rocket

Allergan Agrees to $13.75 Million Deal with Tribe to Protect Restasis Patents

Ellex to Boost Production of iTrack Microcatheters to 50 Thousand a Year

Coming soon

2017 Retinal Pharmaceuticals and Biologics Report: A Global Market Analysis for 2016 to 2022