Foamix Pharmaceuticals Ltd (FOMX)

[TheFinalCD]

Foamix Pharma's FMX101 shows mixed results in two late-stage acne studies; shares plummet 47% premarket

Mar. 27, 2017 8:42 AM ET|About: Foamix Pharmaceuticals (FOMX)|By: Douglas W. House, SA News Editor
Thinly traded micro cap Foamix Pharmaceuticals (NASDAQ:FOMX) craters 47% premarket on light volume in response to its announcement of mixed results from two Phase 3 clinical trials assessing FMX101 in people with moderate-to-severe acne.

One study, Trial 05, met both co-primary endpoints but the other, Trial 04 only met one. Specifically, both studies showed treatment with FMX101 produced statistically significant reductions in the number of inflammatory lesions versus baseline compared to vehicle (placebo) but only Trial 05 met the other primary endpoint of a statistically significantly greater proportion of patients achieving success as measured by a scale called IGA (14.67% vs 7.89%; p=0.0423). Trial 04 came up short (8.09% vs. 4.77%; p=0.2178).

The company has yet to complete the full data analysis.

FMX101 is a proprietary 4% minocycline (antibiotic) foam formulation.