Dipexium craters after Phase III foot ulcer trials fail

Dipexium Pharmaceuticals Inc. (NASDAQ:DPRX) plummeted $9.95 (78%) to $2.80 after Locilex pexiganan cream 0.8% missed the primary endpoints in the identical Phase III OneStep-1 and OneStep-2 studies to treat mild infections of diabetic foot ulcers. Locilex failed to show superiority to vehicle plus standard wound care at inducing clinical responses.

Locilex also failed to lead to a higher rate of bacterial eradication, missing a secondary endpoint, and did not lead to a "meaningful difference" in wound closure rate, the company said. ...