Dermira Inc (NASDAQ:DERM) stock is tanking today on news that its new acne drug is a failure.
Dermira Inc notes that acne drug olumacostat glasaretil was unable to meet either of its co-primary endpoints in the company’s CLAREOS-1 and CLAREOS-2 Phase 3 trials. The company notes that it will likely stop development of the treatment following this failure.
The Phase 3 trial was to see how effective olumacostat glasaretil is for treating moderate and severe acne in patients ages nine or older. Unfortunately for Dermira Inc, there was no significant improvement for these patients during the time of the study.
Dermira Inc’s Phase 3 trails to test the effectiveness of olumacostat glasaretil in treating moderate and severe acne lasted for 12 weeks. During this time, there were no major negative reactions to the drug. However, there wasn’t much the way of a positive reaction, either.
Dermira Inc says that only 19.1% and 16.3% of patients in its CLAREOS-1 and CLAREOS-2 trails saw a two-grade improvement on the IGA scale at the end of the 12 weeks. In comparison, the vehicle group saw a 20.8% and 11.8% improvement during this time.
“As we look ahead, we are focused on building a commercial organization to support the anticipated launch of glycopyrronium tosylate for axillary hyperhidrosis later this year, subject to FDA approval, as well as our Phase 2b trial evaluating lebrikizumab as a potential treatment for moderate-to-severe atopic dermatitis, for which we expect to announce topline data in the first half of 2019,” Tom Wiggans, Chairman and CEO of Dermira Inc, said in a statement.
DERM stock was down 63% as of noon Monday.
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As of this writing, William White did not hold a position in any of the aforementioned securities.