17th Sep 2018 13:23
LONDON (Alliance News) - Realm Therapeutics PLC said Monday it has decided to discontinue all its drug development programs, following results from its Atopic Dermatitis study.
The study showed a statistically significant efficacy signal in a sub-population treated with the higher dose formulation, the company said.
However, the overall study results did not meet the company's threshold for continued investment, leading to Realm's decision to discontinue all programs.
The company hired MTS Health Partners LP to act as advisor in relation to a strategic review, which may include the potential sale of the company as a possible outcome.
"There is no assurance that the exploration of strategic alternatives will result in a transaction or, if it does, the nature or the terms of any such transaction," Realm said.
In mid-August, Realm said it would conduct an analysis of the products to assess whether "there is a path forward" for its proprietary technology in atopic dermatitis after preliminary data from its phase 2 trial of PR022 in atopic dermatitis did not show "the desired effect".
Realm shares were trading down 1.4% at 10.11 pence each.
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