(Adds details, shares)
July 7 (Reuters) - Inotek Pharmaceuticals Corp said on Friday it would evaluate strategic options after its sole experimental eye drug failed another trial, sending the company's shares tumbling 42 percent in extended trading.
The mid-stage trial testing the drug, trabodenoson, in combination with latanoprost, was not statistically significant in reducing fluid pressure inside the eye in patients with the most common form of glaucoma and those with higher-than-normal ocular pressure, versus latanoprost alone.
The data comes six months after trabodenoson failed a late-stage monotherapy trial compared to a placebo.
"Based on these results and the results previously reported for our ... trial, we are evaluating the future clinical potential of trabodenoson," the company said.
Glaucoma is considered the second-leading cause of blindness in the world, according to the World Health Organization. Fluid pressure is a key indicator of glaucoma risk.
Inotek's shares were trading at $1 after the bell. (Reporting by Divya Grover in Bengaluru; Editing by Shounak Dasgupta)