SOURCE: Vista Partners LLC

Vista Partners LLC

June 26, 2014 09:00 ET

Vista Partners Updates Coverage on Ohr Pharmaceutical, Inc. (NASDAQ: OHRP); Raises Price Target to $31

SAN FRANCISCO, CA--(Marketwired - Jun 26, 2014) - Vista Partners announced today that it has updated coverage on Ohr Pharmaceutical, Inc. (NASDAQ: OHRP) ("The Company" or "OHR") and raised its twelve month price target from $14 to $31. Ross Silver, Principal Analyst at Vista Partners, stated, "OHR is focused on developing Squalamine Eye Drops, currently in a Phase 2 trial, for the treatment of the wet form of age-related macular degeneration (Wet-AMD), a chronic eye disease that causes vision loss in the center of your field of vision. Therapies for Wet-AMD such as ranibizumab (Lucentis®) sold by Genentech (acquired by Roche), as well as Regeneron's aflibercept (Eylea®) intravitreal injections, have become the market leaders in treating Wet-AMD and both therapies combined garnered approximately $6B of revenues in 2013. OHR's Wet-AMD clinical candidate Squalamine eye drops showed gains in visual acuity according to the interim data presented Tuesday this week. The current forms of approved treatment, Lucentis® and Eylea®, require an injection into the back of the eye. Also in clinical development, Opthotech's Fovista®, requires an injection into the back of the eye post an initial Lucentis® injection and is being developed to increase visual acuity. Squalamine Eye Drops would seem to present a significant advantage relative to the aforementioned therapy (Fovista®) considering Squalamine Eye Drops delivery method which is self-administered eye drops. Squalamine Eye Drops may have the potential to create a monumental shift in the way patients are treated for Wet-AMD if approved. The positive visual acuity results also provide a possible trajectory for a Phase 3 trial design." Mr. Silver concludes, "OHR completed an equity financing of $18M in April 2014, which according to the Company, gives them a cash runway well into 2016."

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About Vista Partners:

Vista Partners LLC, founded in 2005, is a Registered Investment Advisor in the States of California and Oregon. The firm's professional staff has backgrounds in finance, corporate communications and investment banking. Vista focuses on investing globally across all market sectors. Vista also provides investment considerations on publicly traded companies through a platform of stock research reports, newsletters, company specific webpages and daily commentary. The platform of products is meant to serve as potential tools for investors to learn about investment considerations. It is Vista's mission to provide investors with tools that may enable them to make profitable investment decisions with the goal to deliver investment considerations that outperform small, mid and large cap equity indexes. 

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