Foamix Pharmaceuticals Ltd said its experimental acne drug failed to meet one of two main goals in a late-stage study, sending its shares down about 30 percent in premarket trading.
However, the drug, FMX101, induced a statistically significant benefit in a separate late-stage study, the Israel-based drug developer said.
The two trials included a total of 961 patients with moderate-to-severe acne, and tested FMX101 against a placebo.
Acne is the most common skin condition in the United States, affecting up to 50 million Americans annually, according to the American Academy of Dermatology.
Companies developing acne treatments include Dermira Inc, Allergan Plc, Novan Inc and Xenon Pharmaceuticals Inc.
Last week, Xenon said it would discontinue developing its acne drug after it failed to meet the main goal in a mid-stage study.
Separately on Monday, Allergan and Paratek Pharmaceuticals Inc said their experimental antibiotic for acne succeeded in two late-stage studies.
Foamix is also developing treatments for other skin disorders, including impetigo, rosacea and chemotherapy-induced rashes.
The company's shares were down 34 percent at $5.99 in light trading before the bell on Monday.
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Foamix Pharmaceuticals Ltd said its experimental acne drug failed to meet one of two main goals in a late-stage study, sending its shares down about 30 percent in premarket trading.
However, the drug, FMX101, induced a statistically significant benefit in a separate late-stage study, the Israel-based drug developer said.
The two trials included a total of 961 patients with moderate-to-severe acne, and tested FMX101 against a placebo.
Acne is the most common skin condition in the United States, affecting up to 50 million Americans annually, according to the American Academy of Dermatology.
Companies developing acne treatments include Dermira Inc, Allergan Plc, Novan Inc and Xenon Pharmaceuticals Inc.
Last week, Xenon said it would discontinue developing its acne drug after it failed to meet the main goal in a mid-stage study.
Separately on Monday, Allergan and Paratek Pharmaceuticals Inc said their experimental antibiotic for acne succeeded in two late-stage studies.
Foamix is also developing treatments for other skin disorders, including impetigo, rosacea and chemotherapy-induced rashes.
The company's shares were down 34 percent at $5.99 in light trading before the bell on Monday.
(c) Copyright Thomson Reuters 2017. Click For Restrictions - https://about.reuters.com/fulllegal.asp
Foamix Pharmaceuticals Ltd said its experimental acne drug failed to meet one of two main goals in a late-stage study, sending its shares down about 30 percent in premarket trading.
However, the drug, FMX101, induced a statistically significant benefit in a separate late-stage study, the Israel-based drug developer said.
The two trials included a total of 961 patients with moderate-to-severe acne, and tested FMX101 against a placebo.
Acne is the most common skin condition in the United States, affecting up to 50 million Americans annually, according to the American Academy of Dermatology.
Companies developing acne treatments include Dermira Inc, Allergan Plc, Novan Inc and Xenon Pharmaceuticals Inc.
Last week, Xenon said it would discontinue developing its acne drug after it failed to meet the main goal in a mid-stage study.
Separately on Monday, Allergan and Paratek Pharmaceuticals Inc said their experimental antibiotic for acne succeeded in two late-stage studies.
Foamix is also developing treatments for other skin disorders, including impetigo, rosacea and chemotherapy-induced rashes.
The company's shares were down 34 percent at $5.99 in light trading before the bell on Monday.
(c) Copyright Thomson Reuters 2017. Click For Restrictions - https://about.reuters.com/fulllegal.asp
