Viatris Hits Snag In Eye Drug Study—Phase 3 Plans Under Review

As the pharmaceutical industry increasingly focuses on developing targeted treatments for niche conditions, Viatris Inc. (NASDAQ:VTRS) on Friday announced topline data from a Phase 3 study evaluating the efficacy and safety of pimecrolimus 0.3% (MR-139) ophthalmic ointment in subjects with blepharitis.

Blepharitis is a common eye condition characterized by inflammation of the eyelid margins, often resulting in redness, swelling, itching, and crusting.

The trial did not meet its primary endpoint of complete resolution of debris after six weeks of twice-daily dosing.

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Viatris Chief R&D Officer Philippe Martin said, “Given that the study did not meet its objective for patients suffering from blepharitis, we are evaluating the appropriate next steps for the Phase 3 program, which may include revising the planned additional Phase 3 study.”

The company is focused on delivering novel therapies like Tyrvaya and Ryzumvi, while progressing a differentiated pipeline. 

In June, Viatris and Opus Genetics, Inc. (NASDAQ:IRD) announced topline results from VEGA-3, the second pivotal Phase 3 trial evaluating MR-141 (phentolamine ophthalmic solution 0.75%) for the treatment of presbyopia.

More patients treated in the MR-141 arm achieved the primary endpoint of Early Treatment Diabetic Retinopathy Study (ETDRS) (≥3-line) gain in binocular distance-corrected near visual acuity (DCNVA) and with less than five letters of loss in binocular best-corrected distance visual acuity (BCDVA) from baseline at 12 hours post-dose on Day 8, compared to placebo.

More patients treated in the MR-141 arm achieved ≥15-letters ETDRS (≥3-line) gain in DCNVA and with less than five letters of loss in BCDVA at 1-hour post-dose on Day 1 compared to those receiving placebo.

Equity research can be a valuable source of information for learning about a company's fundamentals. Analysts create financial models based on a company’s fundamentals and expected future earnings to determine a price target and recommendation for the stock.

Shares of Viatris have an average 1-year price target of $10, representing an expected upside of 11.86%.

VTRS Price Action: Viatris shares were down 3.94% at $8.90 at the time of publication Friday, according to Benzinga Pro.

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