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Realm Therapeutics shares halved after failure of Phase 2 study

Published on 15/08/18 at 10:23am

Shares in the London-listed Realm Therapeutics plummeted on Monday after the company reported that a Phase II study of the experimental drug PR022 had failed to meet its primary endpoint in people with atopic dermatitis.

Shares in the company dropped in price by more than half after a randomized, double-blind, vehicle controlled clinical trial of 122 patients showed that PR022 showed no difference from vehicle.

"PR022 did not show the desired effect in this trial," said Alex Martin, CEO of Realm Therapeutics. "Having just received the data, we are working to better understand this outcome and to analyse all of the data collected in the study.  We are conducting a full review to determine whether there is a path forward for our proprietary technology in Atopic Dermatitis, and to evaluate the implications for our Acne and Psoriasis programs. We will provide an update on our plans in September. I would like to thank the patients and investigators who participated in this trial."

Share prices dropped from 39.00 GBX on Monday to 17.26 GBX the following day. They now lie at a low of 15.05 GBX as they continue to fall.

The company is now investigating PR022 for use in treating psoriasis. However the news comes as it was announced in March that the topical ophthalmic solution PR013 had failed to meet primary endpoints in a Phase II trial for the treatment of allergic conjunctivitis.

Louis Goss

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