Michael Sacerdote
Biotech

Phase II Calamity Dooms Ohr's Eye Drops

The past week has been a "trader's week" in Ohr Pharmaceutical Inc. (NASDAQ:OHRP):

Date

Open

High

Low

Close

Volume

Jun 26, 2014

7.54

10.17

7.50

9.90

5,840,086

Jun 25, 2014

7.50

7.71

6.86

7.31

2,235,844

Jun 24, 2014

10.53

11.75

7.57

7.74

6,088,060

Jun 23, 2014

9.93

11.77

9.82

11.40

880,609

On June 23rd, the company announced a press release and conference call for interim data from its Phase II trial of squalamine eye drops for wet age-related macular degeneration (wAMD). In the morning of June 24th, the company announced "Positive Interim Top-Line Clinical Results From Phase II Study of Squalamine Eye Drops in Patients With Wet AMD." By mid-morning, the stock started to plunge as investors realized...

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