Avalanche Biotech's eye drug meets main goal in mid-stage study

Reuters

(Reuters) - Avalanche Biotechnologies Inc said its experimental eye drug met the main goal of a mid-stage study, sending its shares up about 16 percent after the bell. The drug, AVA-101, was effective in improving vision, compared with a placebo, in patients with wet age-related macular degeneration (AMD) - a disease affecting the retina of the eye, the drug developer said in a statement on Monday. (Reporting by Rosmi Shaji in Bengaluru; Editing by Saumyadeb Chakrabarty)