ADVERTISEMENT

An experimental acne drug just failed two key clinical trials — and the stock's getting obliterated (DERM)

Dermatology biotech Dermira said on Monday that its experimental drug to treat acne failed two key clinical trials.

  • Dermatology biotech
  • Dermira was studying the drug in kids over 9 years old to see if it could reduce the number of inflammatory and non-inflammatory lesions on that person's skin compared to a control arm.
  • Dermira, which had a market cap of about $1 billion when markets closed on Friday was down as much as 64% on Monday in pre-market trading.
  • "We are surprised and extremely disappointed by the results of the Phase 3 program," Dermira CEO Tom Wiggans said in a news release.
  • The company is also developing treatments for hyperhidrosis, otherwise known as excessive sweating, and atopic dermatitis.
ADVERTISEMENT

FOLLOW BUSINESS INSIDER AFRICA

Unblock notifications in browser settings.
ADVERTISEMENT

Recommended articles

Egypt, Nigeria, and South Africa ranked as Africa's most polluted countries in new report

Egypt, Nigeria, and South Africa ranked as Africa's most polluted countries in new report

10 African countries with the lowest life expectancy according to the World Bank

10 African countries with the lowest life expectancy according to the World Bank

Kenyan women are more obese than their men - here’s why

Kenyan women are more obese than their men - here’s why

Africa’s richest man Dangote stands between Europe and $17 billion in revenue

Africa’s richest man Dangote stands between Europe and $17 billion in revenue

After months of exchanging blows, Kenya and Uganda takes steps towards resolution

After months of exchanging blows, Kenya and Uganda takes steps towards resolution

Africa's first black billionaire could join $2.9 billion Vivendi bid for MultiChoice

Africa's first black billionaire could join $2.9 billion Vivendi bid for MultiChoice

10 most dangerous African countries in 2024

10 most dangerous African countries in 2024

Russia’s nuclear influence expands further north of Africa

Russia’s nuclear influence expands further north of Africa

Navigating the future: How AI transforms selling on Amazon

Navigating the future: How AI transforms selling on Amazon

ADVERTISEMENT