ITEK .93 - posts a (.24) burn for Q2 leaving $2.11 netcash as of 6/30/17. Not alot to get excited about here except the extreme low risk. Bidding add-ons in the low .80's.
From the pr:
“Inotek recently announced top-line results from our Phase 2 fixed-dosed combination (FDC) trial of trabodenoson , which did not show a clinically meaningful advantage of intraocular pressure (IOP) reduction at two months for the FDC compared to latanoprost alone. Based on the efficacy results shown to date for the FDC and monotherapy programs, we have decided to discontinue all preclinical and clinical development activities associated with trabodenoson in order to preserve our cash for value-creating opportunities,” said David P. Southwell, President and Chief Executive Officer of Inotek. “We continue to actively evaluate strategic alternatives to maximize shareholder value and are well-funded with $108.8 million in cash and marketable securities as of the end of the second quarter.”
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