Tags: Celsus Therapeutics | Skin Cream | Study | Shares

Celsus Therapeutics Shares Plunge as Skin Cream Fails Study

Wednesday, 18 Feb 2015 07:39 AM


British drugmaker Celsus Therapeutics Plc's U.S.-listed shares plunged as much as 83 percent after the company's skin cream failed the main goal of a mid-stage study.

Celsus Chief Executive Gur Roshwalb said he was "surprised" by the number of patients who responded to a placebo.

The cream, MRX-6, is being developed to treat atopic dermatitis, or eczema, a chronic skin rash or inflammation that often appears in infancy or childhood. The cause of the disease is unknown.

The National Institutes of Health estimates that eczema affects between 9 and 30 percent of the U.S. population.

Current treatments for the condition include corticosteroid creams and ointments, with antibiotics being prescribed if the rash follows an infection.

Celsus said earlier that MRX-6 would be a safer and more effective alternative to corticosteroids, which are often associated with behavioral changes, weight gain, high blood sugar and diabetes.

Earlier tests of the cream, MRX-6, found it to be safe and effective for use in adults. The trial results announced on Tuesday showed that the drug failed to replicate that success in children.

Celsus said it would analyze the data from the trial and determine the next steps for the drug, its lead compound.

The company's pipeline includes a compound to treat eye problems. It also has two drugs in the animal-testing stage.

Celsus' stock fell $5.02, or 81 percent, to $1.15 on the Nasdaq on Tuesday.

© 2017 Thomson/Reuters. All rights reserved.

   
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British drugmaker Celsus Therapeutics Plc's U.S.-listed shares plunged as much as 83 percent after the company's skin cream failed the main goal of a mid-stage study.
Celsus Therapeutics, Skin Cream, Study, Shares
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2015-39-18
Wednesday, 18 Feb 2015 07:39 AM
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