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ENCINITAS, California - Kiora Pharmaceuticals, Inc. (NASDAQ:KPRX), a micro-cap pharmaceutical company with a market capitalization of $9.4 million, has been granted U.S. Patent No. 12,364,680 covering its KIO-104 treatment for multiple ocular diseases, the company announced Tuesday.
The patent encompasses treatments for ocular inflammation, uveitis, age-related macular degeneration, and complications from refractive surgery. It also covers various dosing schedules and formulation methods, extending market exclusivity until 2043. According to InvestingPro data, the company maintains a strong liquidity position with a current ratio of 5.14, indicating sufficient resources to fund its development pipeline.
KIO-104 is a small molecule that inhibits the mitochondrial enzyme DHODH, which plays a role in T-cell replication and inflammation. The treatment is being developed as an alternative to steroids and systemic anti-inflammatory drugs.
The company is currently conducting a Phase 2 clinical trial called KLARITY, which is investigating KIO-104 in patients with inflammatory retinal diseases including posterior non-infectious uveitis and diabetic macular edema.
"Securing this patent builds on our IP strategy to protect KIO-104 around its proprietary structure, delivery methods, formulation, and therapeutic applications," said Brian M. Strem, President and CEO of Kiora Pharmaceuticals, in a press release statement. While the stock has declined 33% over the past year, InvestingPro analysis suggests the company is currently undervalued, with analysts setting price targets between $10-12 per share.
Kiora Pharmaceuticals is also developing KIO-301, a molecular photoswitch treatment for retinitis pigmentosa, choroideremia, and Stargardt disease. The company holds more cash than debt on its balance sheet, though InvestingPro analysis indicates rapid cash utilization - a common characteristic among early-stage pharmaceutical companies. Investors can access 11 additional exclusive ProTips and comprehensive financial metrics through an InvestingPro subscription.
In other recent news, Kiora Pharmaceuticals has announced the results of its annual shareholder meeting, confirming the election of Carmine Stengone and Brian M. Strem, Ph.D. as Class I Directors. Both directors will serve a three-year term until the 2028 annual meeting. The voting results showed 1,155,217 votes in favor of Stengone and 1,156,954 for Strem, with a notable number of broker non-votes for each candidate. Additionally, Kiora Pharmaceuticals has entered into an exclusive option agreement with Senju Pharmaceutical Co., Ltd. This potential $110 million deal focuses on the development and commercialization of KIO-301 for ophthalmic diseases in Asian markets, including Japan and China. Senju has already paid Kiora an immediate $1.25 million option fee, with further payments and royalties outlined in the agreement. This partnership aims to address unmet medical needs for patients with inherited retinal diseases in Asia.
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