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LOS ANGELES, CA, June 20, 2012 - (ACN Newswire) - Shares of LPath, Inc (NASDAQ:LPTN) are up over 10% in early trading on Tuesday following a report detailing why shares at current prices were a good bet for biotech investors.
LPTN is a stock that the market had great enthusiasm for earlier in the year after investors learned that Pharma giant Pfizer (NYSE:PFE) had a vested interest in the firm pending results from two Phase II trials in which they are partners.
Earlier this year, in January, the Company temporarily suspended dosing patients in its PEDigree and Nexus trials because a third-party vendor was found not in compliance with FDA's current Good Manufacturing Practice (cGMP) requirements during the period that the iSONEP clinical vials were filled. Representatives from both Lpath and Pfizer were shocked to learn that the FDA reaching far enough into the trials in which iSONEP(TM) is being tested as a treatment for wet AMD (Nexus) and a related complication called Pigmented Epithelial Detachment (PEDigree) and ordering that dosing be stopped.
In recent SEC filings, Lpath has told investors that they expect both trials will be open for enrollment again, as soon as Q3 of 2012.
In addition, the BioMedReports FDA Calendar shows several other key catalysts which will likely breathe life and attention back into the stock. For now, it appears that Pfizer is targeting and partnering with biotech developers like Lpath and pSivida Corp. (Nasdaq:PSDV)-- who is also developing some drug delivery products for treatment of back-of-the-eye diseases-- as these markets are slated to undergo rapid expansion due to the aging demographics of the U.S. population.
According to one analyst, who gave LPath an $8 price target, it is estimated that nearly 10 million people suffer from AMD in the U.S., many of whom are not currently receiving therapy. The difference here is that existing drugs all focus on inhibiting neovascularization or blood vessel growth within the eye. Lpath's approach not only attenuates the permeability of the retina, but also blocks inflammation and fibrosis, potentially enabling their iSONEP(TM) drug candidate to impact parameters that currently available drugs cannot ameliorate.
The full report is available at:
http://www.biomedreports.com/
Healthcare investors and Biotech traders interested in accessing BioMedReports' new complete database of clinical trials and upcoming FDA and world-wide regulatory decisions which can be used to make more profitable trades and see upcoming catalysts can go to:
http://biomedreports.com/fdacal.html
News developments and live healthcare sector updates are available constantly via twitter at:
http://twitter.com/BioMedReports
About BioMedReports.Com
BioMedReports is a news and research portal covering financial biomedical news and the entire Healthcare Sector of the market. BioMedReports is not paid or compensated to report the news and developments of publicly traded companies. BioMedReports sells a premium product for subscribers and full disclosures and information about the stocks and news mentioned in this news release is available at BioMedReports.Com
Media Contacts Only:
Mary Davila, Assistant Editor, BioMedReports.Com
e-mail: info@biomedreports.com Tel: +1 323 472 4480 Fax: +1 888 210 3556
This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: BioMedReports via Thomson Reuters ONE
Copyright (c) Thomson Reuters 2012. All rights reserved.
Topic: Press release summary
Source: BioMed Reports
https://www.acnnewswire.com
From the Asia Corporate News Network
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