Inotek Plummets On Glaucoma Phase III Failure

Shares in Inotek Pharmaceuticals went into freefall on Jan. 3 on news that its lead product had failed in a Phase III trial in glaucoma patients.

close up of an eye — • Source: Shutterstock

The first Phase III trial of Massachusetts-based Inotek Pharmaceuticals Corp.’s lead product, trabodenoson, has missed its primary endpoint of reducing intraocular pressure, sending the company’s share price down by more than 71% to close at $1.75 on Nasdaq on Jan. 3.

Company executives pointed to a stronger than expected placebo response as one explanation for the failure of the first-in-class, highly...