UPDATE 1-Ista's once-daily ocular inflammation drug meets goal
(Adds details, share movement)
Nov 12 (Reuters) - Ista Pharmaceuticals Inc (ISTA.O) said its late-stage trial of a once-daily formulation of Xibrom to treat inflammation and pain following cataract surgery met its main and secondary goals, sending shares up more than 9 percent.
The primary goal of the study was the absence of ocular inflammation 15 days following cataract surgery and the secondary goal was elimination of ocular pain at day one.
The trial was conducted in more than 500 patients who had undergone cataract surgery.
Compared to the dummy drug, Xibrom also produced a lower overall incidence of ocular adverse events, the ophthalmic pharmaceutical company said in a statement.
Ista already sells a twice-daily version of the drug. It acquired U.S. marketing rights for the drug from Japan's Senju Pharmaceuticals Co. Ltd.
In the latest third quarter, Ista reported Xibrom sales of $11.3 million.
Ista shares rose as much as 16 percent to $6.40, but later fell back to trade up more than 9 percent, or 52 cents, at $6.03 in afternoon trade on the Nasdaq. (Reporting by Jennifer Robin Raj in Bangalore; Editing by Himani Sarkar)
