Aclaris loses 85% of share value after another PhII setback in inflammatory condition
Aclaris Therapeutics’ lead drug has failed another mid-stage test, marking the biotech’s second major setback this year and the autoimmune treatment’s final shot in the clinic as further development will be scrapped.
In reaction, investors wiped about 85% off the company’s share price $ACRS before Monday’s opening bell. CEO Doug Manion told analysts the data made it “abundantly clear that ATI-450 is not active” in rheumatoid arthritis.
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