OHR Pharma Up 26%: Partly Recoups 2-Day Loosing Streak

OHR Pharmaceutical Inc.

gained nearly 26 percent Thursday, partly recouping a a two-day drop touched off by mixed interim results from an FDA Phase II trial. But analyst R. Silver of Vista Partners emphasized the good news in a bullish research note Thursday, saying the OHR product at issue may produce "a monumental shift" in how patients are treated for adult macular degenration, a common cause of blindess in the elderly. Interim results of the trial release Tuesday concerning the company's experimental eye drops had no effect compared with a placebo in lowering the number of drug injections required for the treatment of adult macular degeneration. Although the product, Squalamin, shows little promise so far in meeting the study's so-called primary end point, which would justify FDA approval, patients did obtain significant gains in visual acuity from the eye drops. The positive visual acuity results provide a possible trajectory for a Phase 3 trial design." Silvers said. OHR gained nearly 26 percent Wednesday, trading at $9.20 a share.