Vyne Therapeutics slumps after eczema drug fails mid-stage trial
10/08/2022 13:54
** Shares of VYNE Therapeutics Inc VYNE.O down 22.8% to 31
cents premarket
** Says its drug FMX114 failed to meet the main goal of a
mid-stage trial testing it in patients with mild-to-moderate
atopic dermatitis, commonly known as eczema urn:newsml:reuters.com:*:nGNX3260rN
** The drug failed to effectively reduce lesions when
compared to a "vehicle gel", which is similar to a placebo
** "We're obviously very disappointed by the outcome," says
VYNE CEO David Domzalski, adding that co will evaluate its
portfolio
** VYNE shares have traded below the $1-mark since January
after it divested some antibiotic drugs; and stock has slumped
~60% YTD urn:newsml:reuters.com:*:nL4N2TT2SE
(Reporting by Manas Mishra)
((Manas.Mishra@thomsonreuters.com;
www.twitter.com/Manaswrites15;))