Shares of Menlo Therapeutics Inc. (NASDAQ:MNLO) are poised to plunge in trading today after the company said a trial study of its skin-condition treatment failed to produce “significant” results.
The stock of the biopharmaceutical firm declined 60% to US$21.22 in pre-market trading.
Failed to meet primary endpoint
“The study did not meet its primary or key secondary efficacy endpoints with no statistically significant difference demonstrated between the serlopitant treated groups and the placebo treated group,” Menlo said in a statement.
