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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