Ocugen Inc. ( OCGN ) shares are down during Tuesday’s session following topline data from its Phase 2 ArMaDa trial of OCU410.

OCU410 is an investigational gene therapy for geographic atrophy (GA) secondary to dry age-related macular degeneration (dAMD).

The trial involved 51 patients aged 50 and older, randomized to receive either a medium or high dose of OCU410 or no treatment.

Efficacy Signals Remain, But Below Interim Trends

The optimal (mid-dose) cohort showed a 31% reduction in lesion growth versus control (p