A Foamix ac­ne drug PhI­II bombs, send­ing shares in­to a tail­spin

While Al­ler­gan was pulling in­to the fi­nal reg­u­la­to­ry lap this morn­ing with its ex­per­i­men­tal ac­ne drug, ri­vals at Foamix tripped over a Phase III hur­dle for an­oth­er con­tes­tant in the field.

Shares of Foamix Phar­ma­ceu­ti­cals were crushed in pre-mar­ket trad­ing on Mon­day af­ter the biotech re­port­ed that its ac­ne drug came up with a split de­ci­sion in two Phase III stud­ies.

FMX101, which was used to sell its lack­lus­ter 2014 IPO, hit the co-pri­maries for a re­duc­tion in le­sions and an IGA score for suc­cess in tri­al 05. Tri­al 04, though, proved a flop. And in­vestors were rout­ed on the mixed re­sults.

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