EyeGate Pharmaceuticals Inc. (NASDAQ: EYEG) shares rose about 10% on Monday after the company announced promising data from its mid-stage trial of its leading product candidate. Specifically, the data came from EyeGate’s third stage of its Phase 1b/2a trial of iontophoretic EGP-437 for the treatment of ocular inflammation and pain in post-surgical cataract patients.

The company observed a positive response, determined by a reduction in anterior chamber cell (ACC) count in patients in both of the EGP-437 treatment arms. Those who were administered 4.5 mA-min dosing (3.0 mA for 1.5 minutes) realized the greatest benefit, with 30% and 80% of patients at day 14 and day 28 respectively, achieving complete reduction or an ACC count of zero.

Patients receiving EGP-437 at both dosing levels experienced reduced pain at all time points, with 70% of patients having a pain score of zero as early as Day 1 versus the placebo cohort, where only 10% achieved a pain score of zero at Day 1.

Ultimately, these results could lead to improved outcomes for roughly 3 million patients who undergo cataract surgery in the United States each year.

Barbara Wirostko M.D., chief medical officer of EyeGate, commented:

We are highly encouraged by the results of this third stage of the Phase 1b/2a study of iontophoretic EGP-437, which reinforce our belief that this product merits further evaluation as a potential treatment for pain and inflammation following cataract surgery. We are particularly excited by the outcomes in the 4.5 mA-min treatment arm, which compare favorably to both the placebo arm of this trial and historical data for the current standard of care on reduction in ACC count and improvement in pain score. The data from all stages of this study will form the basis for a randomized, double-masked, placebo controlled trial of iontophoretic EGP-437 in cataract surgery patients, which we expect to initiate in the first half of 2017.

Shares of EyeGate were last seen up 10% at $1.80 on Monday, with a consensus analyst price target of $8.67 and a 52-week trading range of $1.11 to $5.10.

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