This Penny Stock Biotech Offloads Eye Portfolio To Focus On RNA-Editing

This Penny Stock Biotech Offloads Eye Portfolio To Focus On RNA-Editing
  • ProQR Therapeutics N.V. PRQR said it would look for a partner to take the company’s ophthalmology portfolio further into clinical trials. 
  • The company had said that after disappointing data from its pivotal Phase 2/3 Illuminate trial for lead candidate sepofarsen, the EMA had said that the biotech would need to conduct an additional pivotal clinical trial before filing for approval. 
  • ProQR is also winding down multiple ongoing clinical trials with associated workforce reduction — at least five between sepofarsen and other candidate ulteversen- to preserve operating capital and until a partner is found to fund the trials.
  • However, the drug candidates will still be available to patients enrolled in those trials.
  • The company continues to execute on its global licensing and research partnership with Eli Lilly And Co LLY, focused on genetic disorders in the liver and nervous system.
  • ProQR would provide further updates on the Axiomer strategy in due time, including announcing internal development targets in late 2022/early 2023.
  • While ProQR reported a cash runway through mid-to-late 2024 back in February, now the runway has been extended into 2026,
  • Price Action: PRQR shares are up 0.01% at $0.84 during the market session on the last check Thursday.

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