Aclaris plunges after scrapping rheumatoid arthritis drug

Aclaris Therapeutics

13/11/2023 12:42

** Aclaris Therapeutics' shares  ACRS.O  fall 85% to $0.74
premarket - set for an over 3-yr low, if losses hold during
regular trading 
    ** Co says it will stop development of its rheumatoid
arthritis drug zunsemetinib after it failed to meet its primary
or secondary goals in a mid-stage trial
    ** ACRS will also halt enrollment in an ongoing mid-stage
trial studying the drug in psoriatic arthritis 
     ** No notable differentiation between zunsemetinib and
placebo across any measures of efficacy at 12 weeks - co
    ** Up to Friday's close, stock down 70% YTD

 (Reporting by Puyaan Singh)
 ((Puyaan.Singh@thomsonreuters.com;))