ARTICLE | Clinical News
Dermira plummets after Phase III acne failure
March 5, 2018 6:33 PM UTC
Dermira Inc. (NASDAQ:DERM) slid $16.57 (66%) to $8.59 on Monday after it said olumacostat glasaretil (formerly DRM01) missed the co-primary endpoints in two Phase III trials to treat moderate to severe acne vulgaris. The company plans to discontinue development of the inhibitor of acetyl-Coenzyme A carboxylase (ACAC; ACC).
The company's shares touched an all-time low of $8.55 in intraday trading Monday. With the day's move, Dermira's market cap sank below $360 million. At Friday's close, Dermira was valued at more than $1 billion...
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