Dry-eye drug disappointment for Eleven Biotherapeutics

18 May 2015

US clinical-stage biopharma firm Eleven Biotherapeutics (Nasdaq: EBIO) saw its shares decimated in pre-market trading this morning, after posting disappointing results with its dry-eye disease candidate EBI-005. The shares plunged 81% to $2.30, after closing at $11.97 on Friday.

Eleven Biotherapeutics today announced top-line results from the OASIS study, the company’s first pivotal Phase III trial of its lead drug candidate, EBI-005, in moderate to severe dry eye disease. The co-primary endpoints of the Phase III study were the total corneal fluorescein staining score and the patient-reported measurement related to ocular pain and discomfort based on the ocular surface disease index (OSDI), comparing the mean change from baseline at week 12 for treatment with EBI-005 to treatment with vehicle control. In this study, EBI-005 did not meet either of these two co-primary endpoints.

No statistical significance versus control group

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