AnaptysBio left with slimmer pipeline after eczema candidate fails Phase IIb

AnaptysBio lost over $700 million in market cap Friday after reporting that IL-33 inhibitor etokimab, which it had hoped would compete with blockbuster inflammatory disease drug Dupixent, missed the primary endpoint in a trial to treat atopic dermatitis. The failure leaves the company with a slimmer in-house clinical pipeline that includes one ongoing study of etokimab and one candidate to treat autoimmune blistering disorders.

AnaptysBio Inc. (NASDAQ:ANAB) said top-line data from the Phase IIb ATLAS trial showed that all dosing arms of etokimab failed to meet the primary endpoint of improvement as measured by the Eczema Area and Severity Index compared with placebo at week 16...