Oyster Point Pharma Inc (OYST) is a clinical-stage biopharmaceutical company that specializes in developing therapies for ocular surface diseases. Its proprietary product candidate, OC-01, is a nasal spray that delivers a highly selective nicotinic acetylcholine receptor agonist to the tear ducts, stimulating natural tear production. The company is headquartered in Princeton, New Jersey and was founded in 2015.
Oyster Point Pharma is primarily focused on developing OC-01 for two indications: Dry Eye Disease (DED) and Neurotrophic Keratopathy (NK). DED is a multifactorial disease of the ocular surface that affects approximately 38 million people in the United States. NK is a rare degenerative disease of the corneal nerves that can lead to corneal scarring, ulceration, and blindness.
The company's Phase 3 clinical trial of OC-01 for DED has demonstrated statistically significant improvements in both objective signs and subjective symptoms of the disease. The company is also conducting a Phase 2 clinical trial of OC-01 for the treatment of NK, which has shown promising early results.
In addition to OC-01, Oyster Point Pharma is also developing other product candidates for the treatment of ocular surface diseases. The company has a strategic collaboration with Novartis to develop and commercialize novel therapies for the treatment of dry eye disease and other ocular surface diseases.
As of September 30, 2021, Oyster Point Pharma had cash, cash equivalents, and marketable securities of $273.1 million. The company has not yet generated any revenue and has incurred significant losses since its inception.
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