Foamix Pharmaceuticals Ltd (NASDAQ: FOMX)
Foamix Pharmaceuticals is having an incredibly rough start to the week in the pre-market hours today. After announcing the results from a clinical study that failed to meet its primary endpoint, the stock started to fall dramatically, prompting our partners at Trade Ideas to alert us to the downward movement. At the moment (8:25), FOMX is trading at $4.86 per share after a loss of $4.24 per share (46.59%) thus far today.
FOMX Phase 3 Trial Failure
As mentioned above, Foamix Pharmaceuticals is having an overwhelmingly rough start to the week in today’s pre-market trading. The declines are the result of failed clinical trials. In fact, the company released results from two Phase 3 trials surrounding the experimental treatment known as FMX101, which has been designed to treat moderate-to-severe acne.
In the release, we learned that while there was some positive news, when it comes to the key endpoint, the study was a failure. In fact the FOMX treatment performed well with regard to both co-primary endpoints in Trial 05, but in Trial 04, a key co-primary endpoint, the IGA success, was missed. As a result, investors reacted by sending the stock downward.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on FOMX. In particular, we’ll be watching for any news with regard to the company’s plans moving forward. We’ll continue to follow the news and bring it to you as it breaks!
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