Channel Therapeutics Announces Positive Data From CT2000 Study

(RTTNews) - Channel Therapeutics Corp. (CHRO), Wednesday announced positive data from two pre-clinical animal models of CT2000 for the treatment of both acute ocular pain as well as chronic ocular surface pain commonly associated with dry eye disease.

In the first trial, rabbits were treated with capsaicin to mimic an acute ocular insult. Following this, the rabbits were treated with CT2000, which was dosed four times over a 24-hour period.

The company noted that CT2000 significantly reduced the number of paw wipes within 15 minutes of administration of capsaicin and that CT2000 continued to show efficacy over a 60-minute period following administration.

Meanwhile, benzalkonium chloride was instilled in mice eyes during the second trial to create a model of dry eye disease. Following this, the mice were dosed with CT2000 four times per day for 7 days.

At the end of the second trial, the data showed that CT2000 reduced the frequency of paw wipes within a single day of administration and showed cumulative efficacy over time.

CEO Frank Knuettel II stated that the positive findings pave the way for the launch of Phase 1/II human proof of concept trials.

In the pre-market hours, CHRO is trading at $1.04, down 1.89 percent on the New York Stock Exchange American.