QLT Inc. (NASAQ:QLTI; TSX:QLT) has reported that recent study results show that a new therapy for patients suffering from age-related macular degeneration (AMD), the leading cause of blindness in the elderly, cut treatments in half during the study's first six months.
The therapy combines the Vancouver-based biopharmaceutical company's Visudyne with Avastin, a cancer treatment drug made by California's Genentech.
QLT said the results show patients can gain the same visual acuity with the new combination therapy as they could with the old.
In the study, 30% of patients needed only one treatment of the combined drugs compared with several treatments when using only Avastin.
QLT's share price range during the past week: between $3.42 and $3.73; 52-week high: $9.41; 52-week low: $2.32.