Im­mu­nic re­ports an­oth­er tri­al flop, and ex­ecs blame 'con­found­ed' place­bo re­sponse as shares sink

Four months af­ter tak­ing an axe to the pipeline re­sult­ing from a Phase II miss, Im­mu­nic is back with an­oth­er miss.

On Thurs­day af­ter­noon, the New York biotech re­port­ed a Phase Ib fail for one of its clin­i­cal pro­grams, blam­ing an un­ex­pect­ed­ly high place­bo re­sponse. In­for­ma­tion is lim­it­ed, Im­mu­nic says, but here’s what we do know: In an in­ter­im analy­sis for the treat­ment of pso­ri­a­sis, IMU-935 did not sep­a­rate from place­bo af­ter four weeks.

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