D. Western Therapeutics Institute's (TYO:4576) licensee, Kowa Company, has completed subject dosing in a global Phase III clinical trial for K-321, according to its Tokyo bourse filing on Friday.

K-321 is an ophthalmic solution containing ripasudil hydrochloride hydrate, targeting Fuchs endothelial corneal dystrophy.

The trial, conducted across multiple regions including the U.S. and Europe, evaluates the drug's efficacy and safety post-surgery compared to a placebo, with follow-up observations set to conclude by March 2026.

This milestone follows the earlier completion of another Phase III trial, marking progress toward addressing a condition currently reliant on corneal transplantation.

The development aligns with Kowa's broader strategy to expand ripasudil's applications, though it does not impact the fiscal 2025 earnings forecast.