NovaBay off big after trial fails

|About: NovaBay Pharmaceutical... (NBY)|By:, SA News Editor

Shares of NovaBay Pharmaceuticals (NYSEMKT:NBY) are off 40% premarket on light volume after the company announced that its ophthalmic formulation for viral conjunctivitis, NVC-422, failed to achieve its primary or secondary endpoints in a Phase 2 clinical trial.

The global study enrolled patients with adenoviral conjunctivitis in the U.S., India, Sri Lanka and Brazil. The endpoints were: measured clearing of bulbar conjunctival injection (red eye); eradication of adenovirus from tear film; spread of infection to the fellow eye; reduction in sub-epithelial infiltrates; clearing of blurred vision compared to its Vehicle at Test-of-Cure Visit (Day 18).

The company has terminated its pursuit of NVC-422 for this indication.