Kiora Pharma Snags Orphan Drug Tag For Inherited Genetic Eye Disease Candidate

• The FDA has granted Orphan Drug designation to Kiora Pharmaceuticals Inc's (NASDAQ:KPRX) KIO-301 for Retinitis Pigmentosa.
• Retinitis Pigmentosa is an inherited genetic eye disease that can lead to severe vision loss due to rods and cones degeneration.
• Kiora expects to initiate clinical trials of KIO-301 in Q3 2022. 
• The Company plans to begin a Phase 1b clinical trial in Australia later this year before initiating more extensive studies in the U.S. and worldwide.
• KIO-301 (benzyl ethyl aminoazobenzene quaternary ammonium) is a visible light-sensitive small molecule that acts as a reversible 'photoswitch,' specifically designed to restore the eyes' ability to perceive and interpret light in visually impaired patients. 
• Price Action: KPRX shares are down 10.4% at $0.70 during the market session on the last check Friday.