LEXINGTON, Mass.--(BUSINESS WIRE)--Inotek Pharmaceuticals Corporation (NASDAQ:ITEK), a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of therapies for ocular diseases, today reported financial results and operational highlights for the fiscal year ended December 31, 2016.
“In 2016, Inotek completed the Phase 3 MATrX-1 clinical trial of trabodenoson for the treatment of primary open-angle glaucoma and/or ocular hypertension and also initiated a Phase 2 trial to identify a potential fixed-dose combination of trabodenoson and latanoprost for the same indications,” said David P. Southwell, President and Chief Executive Officer of Inotek. “While MATrX-1 did not achieve its primary endpoint, superiority in reduction of mean intraocular pressure (IOP) compared to placebo, we believe this result was driven by placebo outliers at a few trial sites.”
“We intend to discuss the full MATrX-1 data set with the US Food and Drug Administration in the first half of 2017 to determine next steps for the clinical development of the monotherapy program,” added Mr. Southwell. “In addition, the Phase 2 fixed-dose combination study of trabodenoson with latanoprost, addressing a considerably larger market opportunity than monotherapy, is fully enrolled and we expect to report top-line data in mid-2017. Based on the results of this trial, we will determine next steps for the clinical development of this combination therapy.”
