IVERIC bio (ISEE) Stock Rockets On Clinical Data

IVERIC bio ISEE Stock News

IVERIC bio Inc (NASDAQ: ISEE) is running for the top in the market this morning, gaining more than 80% early on. The gains come after the company announced positive clinical data, exciting investors who are sending the stock up like a rocket. Here’s what’s happening:

ISEE Stock Rockets On Clinical Data

In a press release issued early this morning, IVERIC bio provided topline data from a study of Zimura. Zimura is a factor C5 inhibitor being assessed as a potential option for patients with dry age-related macural degeneration (AMD).

In the release, ISEE said that the topline data confirm that Zimura met its prespecified endpoint. The treatment showed to reduce the rate of geographic atrophy growth in patients.

The trial was a randomized, controlled Phase 2b trial of the treatment. The reduction in mean rate of GA growth over 12 months came to 27.38% in the Zimura 2mg group compared to control in the 2mg group. In the 4 mg group, improvement came to 27.81%.

Importantly, the company said that Zimura was generally well tolerated after 12 months of administration. Throughout the study, no Zimura-related inflammation or discontinuations took place. There were also no ocular serious adverse events nor case of endophthalmitis reported.

In a statement, Glenn P. Sblendorio, CEO and President at ISEE, had the following to offer:

This is a major milestone for IVERIC bio and a potentially significant advancement for patients with GA secondary to dry AMD who currently have no treatment options. Based on these data, we intend to explore all options for the future development of Zimura, including the possibility for collaboration opportunities, licensing and / or potentially further internal development. I especially want to thank patients who participated in the trial, as well as our team, our collaborators and our shareholders that have supported IVERIC bio.

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This News Is Significant

The news released by IVERIC bio this morning was massive for multiple different reasons. Here’s how I see it:

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First and foremost, the data suggest that not only is the treatment proving to be effective, it’s also proving to be safe and well-tolerated. This is a resounding success as it sets the stage for a potential pivotal clinical trial and outlines the path toward approval.

Importantly, should ISEE receive an approval in AMD, it would be entering a massive market. At the moment, experts suggest that the AMD market will grow to be worth $2.21 billion annually by the year 2023.

It would be unreasonable to expect that any single company would take 100% of any overall market. However, ISEE doesn’t need to tap 100% of the market for this to lead to signifcant revenue.

Think about it, the company trades with a market cap of around $70 million. That’s pennies in the world of biotechnology. Should it break into even 1% of the AMD market, it would be generating significant revenue. In my view, this makes ISEE a compelling opportunity that should not be ignored!

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