Inotek Pharmaceuticals Corporation Reports Second Quarter 2017 Financial Results and Operational Highlights

Inotek Pharmaceuticals Corporation Reports Second

Quarter 2017 Financial Results and Operational Highlights

LEXINGTON, Mass August 3, 2017 Inotek Pharmaceuticals Corporation (NASDAQ: ITEK), a clinical-stage

biopharmaceutical company focused on the discovery, development and commercialization of therapies for ocular diseases, including glaucoma, today reported financial results and operational highlights for the quarter ended June 30, 2017.

Inotek recently announced top-line results from our Phase 2 fixed-dosed combination (FDC) trial of

trabodenoson, which did not show a clinically meaningful advantage of intraocular pressure (IOP) reduction at two months for the FDC compared to latanoprost alone. Based on the efficacy results shown to date for the FDC and monotherapy

programs, we have decided to discontinue all preclinical and clinical development activities associated with trabodenoson in order to preserve our cash for value-creating opportunities, said David P. Southwell, President and Chief

Executive Officer of Inotek. We continue to actively evaluate strategic alternatives to maximize shareholder value and are well-funded with $108.8 million in cash and marketable securities as of the end of the second quarter.

Second Quarter 2017 and Recent Business Highlights:

Second Quarter 2017 Financial Results:

Inotek Pharmaceuticals Corporation

Inotek Pharmaceuticals is a clinical-stage biopharmaceutical company focused on the discovery, development and

commercialization of therapies for ocular diseases, including glaucoma. In July 2017, the Company announced top-line results of its Phase 2 fixed-dose combination trial of trabodenoson and

latanoprost for the treatment of glaucoma. The trial did not meet its primary efficacy endpoint and the Company has since discontinued development of trabodenoson in order to focus on evaluating strategic alternatives. For more

information, please visit www.inotekpharma.com. The inclusion of our website address here and elsewhere in this press release does not include or incorporate by reference the information on our website into this press release.

Forward-Looking Statements

Various statements in this

release concerning Inotek s future expectations, plans and prospects, including without limitation, Inotek s expectations regarding its ability to identify or consummate a strategic alternative; Inotek s expectations regarding

reporting top-line data of its Phase 2 trial for its FDC or other trials; Inotek s expectations with respect to the timing and success of its clinical studies and

pre-clinical studies for trabodenoson, its FDC program, and orphan diseases; and Inotek s expectations regarding its successful potential future development of trabodenoson for any

indications; may constitute forward-looking statements for the purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995 and other federal securities laws and are subject to substantial risks, uncertainties

and assumptions. You should not place reliance on these forward-looking statements, which often include words such as believe, expect, anticipate, intend, plan, will give,

estimate, seek, will, may, suggest or similar terms, variations of such terms or the negative of those terms. Although the Company believes that the expectations reflected in the

forward-looking statements are reasonable, the Company cannot guarantee such outcomes. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including, without

limitation, Inotek s ability to identify and execute on its strategic alternatives, Inotek s ability to successfully demonstrate the efficacy and safety of trabodenoson, its FDC program, its

pre-clinical studies for orphan diseases, the pre-clinical and clinical results for its product candidates, which may not support further development and marketing

approval, the potential advantages of Inotek s product candidates, actions of regulatory agencies, which may affect the initiation, timing and progress of pre-clinical studies and clinical trials of its

product candidates, Inotek s ability to obtain, maintain and protect its intellectual property, Inotek s ability to enforce its patents against infringers and defend its patent portfolio against challenges from third parties, the timing,

cost or other aspects of a potential commercial launch of Inotek s product candidates and potential future sales of our current product candidates or any other potential products if any are approved for marketing, competition from others

developing products for similar uses, Inotek s ability to manage operating expenses, Inotek s ability to obtain additional funding to support its business activities and establish and maintain strategic business alliances and new business

initiatives, Inotek s dependence on third parties for development, manufacture, marketing, sales and distribution of product candidates, the outcome of litigation, and unexpected expenditures, as well as those risks more fully discussed in the

section entitled Risk Factors in Inotek s most recent Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission as well as discussions of potential risks, uncertainties,

and other important factors in Inotek s subsequent filings with the Securities and Exchange Commission. Accordingly, you should not place undue reliance on these forward-looking statements. All such

statements speak only as of the date made, and the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future

events or otherwise.

Prowse, Ph.D., 781-552-4305

Vice President, Corporate Development and IRO

Inotek Pharmaceuticals Corporation

(in thousands, except share and per share

Consolidated Balance Sheets

Consolidated Statements of Operations