Menlo’s IPO hangover begins with a failed PhII for an old Merck castoff
Just a little more than two months after Menlo Therapeutics went public $MNLO, raising $119 million from a successful IPO in the midst of a rollicking good time on Wall Street for high risk offerings, their one and only drug in the clinic just decisively failed a Phase II trial.
Investigators say that serlopitant failed to distinguish itself from a placebo in a pruritus study with 484 patients, flunking the primary and key secondary endpoints. Execs for the company, though, are vowing to hang on, noting some earlier positive mid-stage data as well as a Phase III that is about to launch.
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