June 24 Ohr Pharmaceutical Inc said its experimental eye drop did not show any significant benefit over a placebo in reducing the number of injections of another drug directly into the eye.
Ohr's drug, Squalamine, was being tested in a mid-stage trial in patients with age-related macular degeneration, the leading cause of blindness among the elderly.
An interim analysis of trial data showed patients getting Squalamine needed an average of 6.2 eye injections, while those on placebo needed 6.4.
The main goal of the trial was to reduce the number of required injections. (Reporting by Esha Dey in Bangalore; Editing by Saumyadeb Chakrabarty)