PRINCETON, N.J. - Oyster Point Pharma, Inc. (Nasdaq: OYST), ('Oyster Point Pharma' or 'the Company') a commercial-stage biopharmaceutical company focused on the discovery, development and commercialization of first-in-class pharmaceutical therapies to treat ophthalmic diseases, announced that results from the multicenter, randomized, double-masked, vehicle-controlled Phase 3 clinical trial (The ONSET-2 study) of TYRVAYATM Nasal Spray (varenicline solution) have been published in Ophthalmology.1 TYRVAYA (varenicline solution) Nasal Spray 0.03 mg is a highly selective cholinergic agonist that is FDA-approved to treat the signs and symptoms of dry eye disease as a multidose nasal spray.

'This Phase 3 study of TYRVAYA nasal spray shows consistent outcomes as compared to the ONSET-1 Phase 2b trial. These results show clinically meaningful improvements in basal tear film production,' said Jeffrey Nau, Ph.D., MMS, President and Chief Executive Officer of Oyster Point Pharma. Dr. Nau continued, 'These results are notable as TYRVAYA is the first and only cholinergic agonist nasal spray approved by the FDA to treat patients with the signs and symptoms of dry eye disease, leveraging this novel mechanism of action of activating the trigeminal parasympathetic pathway.'

About ONSET-2 Study

The ONSET-2 Phase 3 pivotal clinical study was a multicenter, randomized, double-masked, vehicle-controlled trial in adult subjects at least 22 years of age with dry eye disease in the U.S. The main eligibility criteria for the studies included a physician's diagnosis of dry eye disease, a baseline Schirmer's Score of

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