Itching med beaten by placebo in Phase II test
A Phase II miss in chronic itching has blown a hole in Menlo Therapeutics (Nasdaq: MNLO) stock, with shares losing nearly a third of their value in New York on Wednesday.
The Californian firm has been developing oral serlopitant, an NK1 receptor antagonist, for the treatment of chronic pruritus of unknown origin (CPUO).
The study missed its primary endpoint of a statistically-significant reduction in pruritus, with 37.9% making the grade compared with 39.3% for placebo.
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