QLT ends study of olopatadine punctal plugs

QLT’s (NSADAQ:QLTI; TSX:QLT) Phase 2 proof-of-concept clinical trial for the olopatadine punctal plug delivery system (O-PPDS) demonstrated that there were no significant differences between O-PPDS and placebo-PPDS subjects “with respect to reduction in the signs and symptoms of allergic conjunctivitis,” with both cohorts showing similar improvements. Internal study controls, including the olopatadine and placebo eye drop [...]

QLT hikes size of share buyback

The board of QLT approved an increase in the number of common shares the company (TSX:QLT; NASDAQ:QLTI) may purchase under its normal course issuer bid to 4,700,060, or 10% of the public float, from  2,731,534, or 5% of the outstanding stock on Oct. 28, 2009. The 12-month buyback program ends on Nov. 2, 2010.  The [...]

QLT has positive outcomes treating LCA

QLT (NASDAQ:QLTI; TSX:QLT) has released “positive outcomes” from interim results of the first three subjects enrolled in a Phase 1b clinical proof-of-concept study of its QLT091001 treatment for Leber congenital amaurosis (LCA), an inherited progressive retinal degenerative disease. LCA leads to retinal dysfunction and significant visual impairment beginning at birth.  Based on the positive results [...]

Cormark raises QLT price target

On the heels of QLT (NASDAQ:QLTI; TSX:QLT) reaching a 52-week high of $5.45 (U.S.) on Wednesday, Cormark Securities raised its price target to $6.50 from $5.35, maintaining a “buy” rating on the stock. In a new report, analyst David Dean writes that QLT expects to report data this year from two clinical programs, which “do [...]

RBC ups QLT to “outperform”

Calling QLT’s litigation settlement with Massachusetts General Hospital over Visudyne royalties “better than we had anticipated,” RBC Capital Markets upgraded QLT to “outperform” from “sector perform” and raised its target price to $6 (U.S.) from $4.50. The stock (NASDAQ: QLTI; TSX: QLT) finished trading at $4.50 on Wednesday. Analyst Doug Miehm writes that at the [...]

QLT settles MGH litigation

QLT (TSX: QLT; NASDAQ: QLTI)  has settled its dispute with Massachusetts General Hospital over Visudyne royalties. Under the litigation settlement, QLT will pay MGH $20-million (U.S.) for all past and future royalty obligations under a license agreement between the two parties, in exchange for the dismissal of MGH’s lawsuit against QLT, pending court approval. Under [...]

QLT restructures Visudyne agreement with Novartis

QLT (TSX: QLT; NASDQ:QLTI) is taking a more hands-on role selling its Visudyne eye drug, including rights to sell and market the drug in the U.S., under an amended agreement with long-time marketing partner Novartis Pharma that takes effect at the start of 2010. Novartis will continue to distribute Visudyne outside the U.S. “We are [...]