Allergan Announces Positive Results In 2 Trials Of Tear Neurostimulator Oculeve

Allergan plc said Monday it had positive results in two trials of its Oculeve Intranasal Tear Neurostimulator, OCUN-OO9 and OCUN-010, after both met their primary endpoints. The company said it's now on track for a premarket submission for the device to the Food and Drug Administration in the second half of the year. The product is aimed at increasing tear production in patients with Dry Eye Disease due to decreased tear production. Chronic dry eye disease effects more than 25 million people, and is mostly caused by age, contact lens wear, certain medications, eye disease and other medical conditions. Allergan shares were not yet active in premarket trade, but are down 28% in the year so far, while the S&P 500 has gained 0.1%.