OCUMENSION-B (01477) saw its shares rise more than 16% in afternoon trading. As of the time of writing, the stock was up 15.33%, trading at HK$8.5 with a turnover of HK$26.0687 million.

The movement follows an announcement from OCUMENSION that the first patient has been enrolled in the Phase III clinical trial of OT-211 (AR-15512) conducted in China. OT-211 is a 0.003% concentration eye drop formulation and is the first TRPM8 agonist approved by the U.S. Food and Drug Administration (FDA) for treating the signs and symptoms of dry eye disease (DED).

The successful enrollment of the first patient represents a significant milestone in the clinical development of OT-211 in China and underscores the company's commitment to advancing innovative therapies for DED patients. Public information indicates that Alcon Inc. developed the 0.003% concentration eye drop formulation of AR-15512 and completed one Phase IIb and three Phase III clinical trials. OT-211 (AR-15512) received FDA approval for treating DED on May 28, 2025. Following a strategic collaboration with the Alcon group in October 2024, OCUMENSION obtained an exclusive license from Alcon for the development, manufacturing, contract manufacturing, import, export, and sale of OT-211 (AR-15512) in mainland China.