SOURCE: Vista Partners

Vista Partners

August 01, 2012 09:15 ET

Vista Partners Updates Coverage on Ohr Pharmaceutical, Inc.; Raises Target Price to $3.50

SAN FRANCISCO, CA--(Marketwire - Aug 1, 2012) -  Vista Partners announced today that it has updated coverage on Ohr Pharmaceutical, Inc. (OTCBB: OHRP) ("The Company" or "OHR") and raised its twelve month target price from $2.20 to $3.50. Ross Silver, Principal Analyst at Vista Partners, stated, "Age-related Macular Degeneration (AMD) is the leading cause of irreversible vision loss in people over 65 in the United States. Therapies such as ranibizumab (Lucentis®) and bevacizumab (Avastin®) both of which are sold in the U.S. by Genentech (acquired by Roche), as well as, Regeneron's recently approved (November 2011) aflibercept (Eylea®) intravitreal injections, have become the market leaders in treating AMD. Regeneron stated in their earnings release on Wednesday, July 25th, that it expected full-year U.S. Eylea sales of $700 million to $750 million. In April, Regeneron had forecast Eylea sales of $500 million to $550 million, nearly double its previous projection. OHR's Wet-AMD clinical candidate, Squalamine eye drops, would present a significant advantage relative to the aforementioned therapies considering the delivery method, self-administered eye drops, versus an injection into the back of the eye. Squalamine eye drops were recently awarded Fast Track designation by the U.S. Food and Drug Administration (FDA) for its potential treatment of the wet form of macular degeneration (Wet-AMD). The Squalamine Eye Drop program has the potential to create a monumental shift in the way patients are treated for Wet-AMD. OHR has stated that Squalamine Eye Drops are planned to commence a Phase 2 study in the third quarter of 2012."

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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 Partners LLC has built a name for itself in the small cap space due to its selection of profitable investment ideas.

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