Ohr Pharmaceutical is focused on the development of novel therapeutics for serious ocular diseases with unmet medical needs.
Ohr Pharmaceutical, Inc. (NasdaqCM:OHRP) is a biotechnology company focused on developing novel therapies for underserved areas in ophthalmology. The company’s primary area of interest is the treatment of retinal disorders, especially wet age-related macular degeneration (wet AMD), which remains a leading cause of vision loss in adults over 50. Ohr’s research and development programs have centered around creating alternatives to invasive treatments currently used in clinical settings.
One of Ohr’s key investigational platforms involves sustained-release drug delivery for anti-VEGF therapy. Current standard treatment for wet AMD often requires monthly injections directly into the eye, which can be uncomfortable, high-risk, and difficult to maintain over time. Ohr’s approach aims to reduce the frequency of these injections by offering long-acting formulations that deliver therapeutic agents in a controlled, consistent way. This strategy is intended to maintain visual outcomes while easing the treatment burden on patients and physicians.
The company has also explored small molecule drug candidates that can target multiple pathways associated with ocular inflammation and degeneration. The development process includes preclinical pharmacology, formulation engineering, and human clinical trials in compliance with FDA and international regulatory standards. Ohr works with ophthalmologists, retinal specialists, and research centers to structure its study protocols based on real-world clinical demands.
Ohr Pharmaceutical emerged in 2009 after a reverse‑merger reorganization that gave a thinly traded shell company a new life in ophthalmology. Headquarters shifted to New York City, and the board recruited clinician‑investors who had previously steered prominent retina trials. The scientific anchor was squalamine lactate, an aminosterol first studied in systemic oncology. Ohr licensed ocular rights, reformulated the compound as a 0.2 percent topical solution (OHR‑102), and aimed it at wet age‑related macular degeneration (AMD). The concept was straightforward: a self‑administered eye drop that could reduce or even replace the burden of intravitreal anti‑VEGF injections. Supporting assets included SKS sustained‑release micro‑particles for posterior‑segment delivery and an older immunomodulator, OHR/AVR118, originally tested for cancer cachexia. Early operating capital came from small public offerings and at‑the‑market sales rather than large‑scale venture backing, a structure that kept programs moving but left little margin for failure.
By 2014 the IMPACT Phase IIb trial suggested that adding OHR‑102 to monthly ranibizumab (Lucentis) improved the proportion of patients gaining three or more lines of vision. Encouraged, management launched the MAKO pivotal study in 2015, powering it to detect the same visual‑acuity differential at month nine. Results released in January 2018 failed to meet the primary endpoint; the treatment arm gained 8.3 letters versus 7.9 letters for control, a non‑significant margin. Cash burn accelerated to roughly 6 million USD per quarter, and the workforce was cut by more than half to preserve liquidity. Analysts viewed the data as insufficient for FDA submission, leaving Ohr without a viable late‑stage asset. The board ordered a strategic review, explored out‑licensing, and began courting merger prospects with stronger pipelines.
Maintaining a NASDAQ listing became critical while talks proceeded. Shareholders approved a one‑for‑twenty reverse stock split that took effect on 4 February 2019, lifting the share price above the one‑dollar compliance threshold but reducing the public float to fewer than four million shares. Parallel discussions continued with NeuBase Therapeutics, a private company developing peptide‑nucleic‑acid antisense chemistry for rare genetic disorders. The logic was classic reverse merger: NeuBase would gain instant public‑market access, while Ohr investors would receive equity in a new venture with a fresh clinical story. Financing agreements for approximately nine million USD were arranged to close immediately prior to the transaction, ensuring the combined entity could start life with operational cash.
On 12 July 2019 the deal closed, and Ohr Pharmaceutical ceased independent operations. . NeuBase took the listing, the management team, and the NBSE ticker, while former Ohr executives transitioned to advisory roles or exited entirely. Under the terms, NeuBase shareholders controlled a majority of the post‑merger equity, making the transaction a de‑facto acquisition. Remaining Ohr assets were either sold or reassigned. Rights to OHR/AVR118—later renamed EOM613—were transferred to a separate startup in 2020. Squalamine ophthalmic development was effectively shelved; no active IND remains open with the FDA for OHR‑102 as of 2025.
For investors, the swap replaced a single ophthalmology gamble with a diversified pre‑clinical gene‑editing platform. For regulators, the continuity of SEC filings preserved transparency, but the corporate narrative had flipped from retinal disease to rare‑mutation therapeutics overnight. Ohr’s historical financial statements now sit inside NeuBase’s Form 10‑K exhibits; the original web domain redirects to archival investor pages. In practical terms the company no longer exists beyond those records, yet its story illustrates a familiar arc in small‑cap biotech: licence a promising repurposed molecule, advance to mid‑stage data, confront a pivotal failure, and finally seek value through corporate combination.
Today the Ohr name survives mainly in citations of the IMPACT and MAKO trial literature, which still inform discussions on topical anti‑VEGF adjuncts. The episode also serves as a cautionary tale on capital structure: reliance on thin public financing left limited room to pivot once the primary asset stalled. Conversely, NeuBase’s ability to inherit a clean, listed shell demonstrates why reverse mergers remain a viable path for private platforms looking to enter public markets without the cost and timing of a traditional IPO.