Dermira Inc (NASDAQ: DERM) is rocketing in the market this morning, more than doubling in value after releasing clinical data. Of course, the data was positive, exciting investors. Today, we’ll talk about:
- The clinical data;
- what we’re seeing from DERM stock as a result; and
- what we’ll be watching for ahead.
DERM Stock Is Running For The Top On Clinical Success
As mentioned above, Dermira is having an incredibly strong start to the trading session this morning after the company announced positive clinical data. The announcement came by way of press release early this morning.
In the release, the company provided the results from a Phase 2b dose-ranging study of lebrikizumab. lebrikizumab is an investigational therapy under development for adults with moderate-to-severe atopic dermatitis.
In the release, DERM said that all three doses of the treatment met their primary endpoint. This endpoint was the demonstration of greater improvements in Exzema Area and Severity Index score when compared to placebo.
The company also said that the treatment showed to be safe and well-tolerated. The safety profile in the study proved to be consistent with prior studies evaluating the therapy.
In a statement, Emma Guttman-Yassky, M.D., Ph.D., lead investigator on the trial of the DERM candidate, had the following to offer:
These data are compelling and further demonstrate clinically that IL-13 is a key mediator in atopic dermatitis. 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.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news leads to moves. When it comes to Dermira, the news proved to be overwhelmingly positive.
With the strong clinical data, the company is one step closer to bringing lebrikizumab to market. Of course, this means that the asset is now far more valuable, leading to excitement among investors.
As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:13), DERM is trading at $14.02 per share after a gain of $7.18 per share or 104.97% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on DERM. In particular, we’re interested in following the continued development of lebrikizumab as the data to date is proving to be overwhelmingly promising. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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