Eyes were watering at the announcement Monday that Marietta, Ohio-based ProtoKinetix, Incorporated (OTC:PKTX) was reaching new customers. The company announced that ITR Laboratories of Montreal have run multiple tests on eye irritation at maximum concentration of AAGP® and to date have shown no sign of irritation.
As a result, ProtoKinetix is shipping AAGP® to EyeCRO to commence testing Dry Eye Disease efficacy. This testing will involve topical application of AAGP® and evaluations of its effects on ocular inflammation.
EyeCRO is a world-recognized, specialized CRO in the field of pre-clinical ocular drug research and development. This program will start soon and run for three to four months.
Dry Eye Disease is a condition in which a person does not have enough quality tears to lubricate and nourish the eye. Tears are necessary for maintaining the health of the front surface of the eye and for providing clear vision. This condition currently afflicts more that 30 million Americans and can affect as much as 40% of the population for various reasons.
The dry eye disease ophthalmic market is very active, with $7.7 billion in revenues and a current growth of 12.5% CAGR.
PKTX shares triumphed a penny, or 10%, to 11 cents, on volume that still needed to wake up, at just over 19,000.
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