Ascendis' Eyconis Starts First Human Trial for Wet AMD Drug EYC-0305
ASND sits 34% above its 52-week low of $186.054.
Summary
Eyconis, an Ascendis Pharma company, has dosed the first patient in a Phase 1 trial of EYC-0305 for treatment-naïve wet age-related macular degeneration. This is the first clinical data point for the program and expands Ascendis' pipeline beyond its commercialized endocrine franchise. The trial will assess safety and early efficacy in a large market with significant unmet need. Ascendis reported Q2 revenue of €339.3M (up 115% YoY) and net profit of €207M on August 13, providing a strong financial base for pipeline investment. No efficacy data is expected in the near term; the next milestone will be initial safety readouts from this trial.
At the time of this announcement, ASND was trading at $248.44 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $15.4B. The 52-week trading range was $186.05 to $282.15. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.