Di­ur­nal stock craters on PhI­II fail; Or­tho wins ten­ta­tive FDA OK for Bry­hali; Cavion in­sists failed PhII study was a win

→ Shares of the UK biotech Di­ur­nal (AIM: $DNL) were pum­meled to­day when the com­pa­ny re­port­ed that its Phase III study of Chrono­cort failed. The drug failed to beat a con­ven­tion­al treat­ment for en­docrine con­trol among pa­tients suf­fer­ing from con­gen­i­tal adren­al hy­per­pla­sia in a 24-hour pe­ri­od. The stock plunged more than 60%.

→ Or­tho Der­ma­to­log­ics, a sub of Bausch Health, has re­ceived ten­ta­tive FDA ap­proval of its NDA for Bry­hali, a top­i­cal treat­ment for plaque pso­ri­a­sis.

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