EyeGate Pharma (EYEG) Has Caught Investors' Eyes, Stock Up 300% In 3 Months

(RTTNews) - Shares of EyeGate Pharmaceuticals Inc. (EYEG), which closed at a new 52-week high of $12.20 on Monday, have gained an impressive 312% in the last three months.

EyeGate Pharma is a clinical-stage company focused on developing products for treating disorders of the eye. The lead product candidate is Ocular Bandage Gel (OBG) eye drop, a unique, first-in-class eye drop formulation, currently in clinical development for two indications - Photorefractive Keratectomy (PRK) surgery and Punctate Epitheliopathies (PE).

On November 22, 2019, the Company reported select topline data, specifically the primary endpoint, demonstrating superiority over standard-of-care in its corneal wound repair pivotal study using the Ocular Bandage Gel eye drop in the Photorefractive Keratectomy pivotal trial. The news sent the stock soaring 98% to as high as $9.50 in intraday trading that day. Additional data from the trial, which were reported on December 2, 2019, demonstrated that patients treated with OBG experienced a faster healing process.

The Company is planning to submit a de novo application for the commercialization of Ocular Bandage Gel in the first half of 2020.

A follow-on pilot study that is evaluating the Ocular Bandage Gel eye drop for punctate epitheliopathies was initiated in October of 2019.

EyeGate Pharma, which ended September 30, 2019, with cash and cash equivalents of $2.455 million, completed a private placement for gross proceeds of approximately $1.9 million with an affiliate of Armistice Capital on October 2, 2019. The Company received approximately $1.9 million from the exercise of warrants subsequent to the release of positive topline data on November 22, 2019, for its pivotal corneal wound repair study.

A 1-for-15 reverse stock split was implemented on August 30, 2019. EYEG has traded in a range of $2.25 to $12.89 in the last 1 year.