Ocuphire Pharma Inc. (OCUP) shares surged 11.32% in after-hours on Thursday, August 05, 2021, and closed at $5.21 per share. in the regular trading session on Thursday, OCUP’s stock gained 6.12%. OCUP shares have fallen 54.65% over the last 12 months, and they have moved up 8.58% in the past week. Over the past three months, the stock has gained 1.52%, while over the past six months, it has lost 61.00%.
Let’s discuss its recent news and developments.
Publication of OCUP Ref-1 Inhibitor, APX3330 article
On July 22, 2021, Ocuphire Pharma, Inc (OCUP), announced the publication of a commentary article in the Journal of Cellular Signaling featuring its Ref-1 Inhibitor, APX3330, for the treatment of retinal disease. The article is titled “APE1/Ref-1 as a Novel Target for Retinal Disease”.
OCUP participation in the recent conferences
Ocuphire Pharma, Inc participated at the 2021 American Society of Cataract and Refractive Surgery (ASCRS) Annual Meeting being which was held on July 23-27, 2021. The company was presented by Dr Jay S. Pepose, Medical Advisor and Board Director of OCUP.
The company also participated at the presbyopia industry panel at the Eyecelerator which was held on July 22, 2021, and in the Eye on Innovation panel at the Virtual Salon Series which was held on July 28, 2021. CEO and Board Director of the company, Mina Sooch presented the company at both events.
OCUP agreement with Processa Pharmaceuticals for RX-3117
On June 17, 2021, Processa Pharmaceuticals, Inc entered into a licensing agreement with Ocuphire Pharma, Inc (OCUP) to license in RX-3117. RX-3117.
Rx-3117 has a family of patents extending into 2036 as well as the U.S. Food and Drug Administration (FDA) Orphan Designation for the treatment of Pancreatic Cancer. Processa will evaluate the potential benefit of RX-3117 for patients with such cancers as pancreatic or non-small cell lung cancer.
Inducement grant
On July 09, 2021, Ocuphire Pharma, Inc. (OCUP), announced that the Compensation Committee of its Board of Directors, which is composed entirely of independent directors, approved an equity award under Ocuphire’s Inducement Plan, as a material inducement to Amanda Providakes in connection with her employment with the Company effective on July 6, 2021.
OCUP inauguration on Russell Microcap Index
Ocuphire Pharma, Inc. (OCUP) joined the Russell Microcap Index after the 2021 Russell indexes annual reconstitution on June 28, 2021, according to a preliminary list of additions posted June 4, 2021.
OCUP closed its common stock offer
On June 08, 2021, Ocuphire Pharma, Inc (OCUP) closed its previously announced registered direct offering of 3,076,923 shares of the Company’s common stock and warrants to purchase 1,538,461 shares of the Company’s common stock at a combined purchase price of $4.875 per one Share and 0.5 Warrant in an offering priced at-the-market under Nasdaq rules. The Warrants have an exercise price of $6.09 per share, will be exercisable on the issuance date, and will expire five years following the issuance date. The company will get gross proceeds of approximately $15 million from the offer.
Conclusion
Well, as of this writing, there is no recent news or development which could justify its gains on Thursday. we hope that it will end the weekly session on a positive note.
