PYC Therapeutics (ASX:PYC) said a safety review committee approved an increase in dosage for its eye disease drug candidate in a single ascending dose study, according to a Friday filing with the Australian bourse.

The committee monitoring the study approved an increase in the PYC-001 treatment dose from 3 micrograms per eye to 10 micrograms per eye following evaluation of data for patients in the first group through four weeks of follow-up.

PYC-001 is a drug candidate for a childhood eye disease, autosomal dominant optic atrophy. The firm noted that there are currently no treatment options available for the disease.

It will progress to dosing patients in the second group of the study to establish the safety and initial efficacy profile of the drug candidate.

Its shares fell nearly 3% in recent trading on Friday.