Replies to post #228560 on Biotech Values

[DewDiligence]

MNLO -19% on phase-2 failure:

https://www.globenewswire.com/news-release/2020/02/26/1990868/0/en/Menlo-Therapeutics-Announces-Results-from-Phase-2-Trial-of-Serlopitant-in-Patients-with-Chronic-Pruritus-of-Unknown-Origin.html

Menlo Therapeutics…today announced results from its Phase 2 clinical trial evaluating the safety and efficacy of once daily oral serlopitant for the treatment of chronic pruritus (itch) of unknown origin (CPUO). The trial, which included 233 patients, did not meet its primary endpoint to show a statistically significant reduction in pruritus in patients treated with serlopitant compared to placebo based upon a 4-point improvement responder analysis.

In the trial, 37.9% of patients in the serlopitant group (N=116) achieved a 4-point or greater improvement on the worst-itch numeric rating scale, or WI-NRS, at week 10 compared to baseline (primary efficacy endpoint) versus 39.3% of patients treated with placebo (N=117). There were no meaningful differences observed between the serlopitant and placebo groups in the prospectively-defined secondary endpoints.

The (pseudo-reverse) merger with FOMX is still go, as far as I know.

[DewDiligence]

FOMX–MNLO pseudo-reverse merger closes:

https://www.globenewswire.com/news-release/2020/03/09/1997122/0/en/Menlo-Therapeutics-and-Foamix-Pharmaceuticals-Complete-Merger-Creating-a-Combined-Company-Focused-on-the-Development-and-Commercialization-of-Therapeutics-for-Dermatologic-Indicati.html

FOMX has ceased trading due to the merger; MNLO is down 17% today for no company-specific reason I’m aware of.