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Dermira shares rocket after positive drug trial

By Abigail Townsend

Date: Monday 18 Mar 2019

Dermira shares rocket after positive drug trial

(Sharecast News) - Shares in Nasdaq's Dermira have more than doubled after the biopharmaceutical company unveiled positive trials for a possible new eczema treatment.
The US firm was updating the market on results from a phase IIb dose-ranging study of lebrikizumab, an investigational therapy it has developed for adults with moderate-to-severe atopic dermatitis, or eczema.

Dermira said: "All three doses of lebrikizumab met the primary endpoint, demonstrating greater improvements in the Eczema Area and Severity Index score compared to a placebo. The safety profile for lebrikizumab observed in the study was consistent with prior studies."

Emma Guttman-Yassky, vice chair for research at the Department of Dermatology at Icahn School of Medicine at Mount Sinai and study investigator, called the results "compelling".

She added: "I have many patients for whom current therapies do not adequately address their needs. These data show that lebrikizumab may offer a targeted, effective and well-tolerated therapeutic approach."

Investors cheered the update and sent the shares rocketing. The stock put on 95% in pre-market trading before surging after the opening bell. By 1330 GMT, Dermira had put on 111% at $14.38.

Dermira, which acquired the rights to develop lebrikizumab from Switzerland's Roche in 2016, said a phase III study was planned for later this year.


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