Ohr Pharmaceutical, Inc. (NASDAQ: OHRP)
Shares of OHRP are surging higher in the pre market this morning after the company announced positive data from OHR-102 Phase II in BRVC and CRVO patients.
According to StreetInsider.com:
“These very promising final results demonstrate a clinically meaningful treatment effect of OHR-102 combination therapy for the treatment of macular edema secondary to retinal vein occlusion,” said John Wroblewski, MD, principal investigator of this Phase II study. “The 38 week data confirm a positive and meaningful effect on both visual acuity and macular edema. Importantly, continued treatment with OHR-102 combination therapy for the full 38 weeks of the study resulted in further improvements in visual gains over those patients that only received combination therapy for the first 10 weeks of the study.”
OHRP Technical Analysis
OHRP is currently trading at 3 year lows while just recently losing nearly 80% of its value since the beginning of March 2015. On a more positive note, the daily chart displays a lot of potential for a significant move back to the upside do to the low float share structure in conjunction with the large gap from $8.58 to $3.24. Providing that the company is making progress in its trials and can continue to do so, OHRP presents an interesting opportunity for a lower risk trade to the long side.
About Ohr Pharmaceuticals
OHR Pharmaceutical, Inc., a pharmaceutical company, focuses on the development of novel therapeutics and delivery technologies for the treatment of ocular disease. Its lead clinical program is OHR-102 eye drops, a novel therapeutic product, which could provide a non-invasive therapy to improve vision outcomes. The company is evaluating OHR-102 eye drops in various Phase II studies for the treatment of retinal diseases, including wet-AMD, retinal vein occlusion, proliferative diabetic retinopathy, and diabetic macular edema. Its preclinical pipeline of sustained release programs include sustained release formulations of small molecule and protein therapeutics for the treatment of ocular diseases, such as steroid induced glaucoma, allergies, and retinal disease. The company is headquartered in New York, New York. Yahoo Finance!