Eyenovia (EYEN) said Friday that a phase 3 study evaluating its drug-device combination of low-dose atropine in the company's Optejet dispensing platform for pediatric progressive myopia, did not meet its primary endpoint.
The independent Data Review Committee found no significant difference in myopia progression between the treatment arms of 0.01% and 0.1% atropine and the placebo.
Eyenovia said it would terminate the study despite safety data indicating that all dosages and placebo were well-tolerated.
Eyenovia said it is also considering different strategic options, including a business combination, reverse merger, asset sales, or a combination of these options.
Eyenovia shares were down more than 50% in recent premarket trading.
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