Lpath -10% as Pfizer may divest product candidate option

Lpath (LPTN) -9.8% AH after warning that Pfizer (PFE) may divest its exclusive option to co-develop LPTN's leading product candidate, iSONEP.

In current Phase 2 clinical trials, iSONEP is given alone or in combination with other drugs to treat an ocular disease that often leads to blindness.

The original agreement with PFE included a $14M upfront payment and shared cost of the Phase 2 clinical trial; also, if PFE opted in after more data was obtained, future payments could be received by LPTN.

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