RTTNews | Mar 8, 2021 10:25AM EST

10:25 Monday, March 8, 2021 (RTTNews.com) - Shares of AnaptysBio, Inc. (ANAB) are down more than 34% Monday morning after the clinical-stage biotechnology company announced negative top-line results from the mid-stage study of its lead drug candidate imsidolimab, for the treatment of palmoplantar pustulosis.

The phase II study of imsidolimab, dubbed Poplar, in moderate-to-severe palmoplantar pustulosis, a chronic skin condition with blisters on palms and soles, failed to meet its primary endpoint.

The treatment with Imsidolimab did not show statistically significant improvement over placebo in Palmoplantar Pustular Psoriasis Area Severity Index (PPPASI) change from baseline at week 16 primary endpoint, the company said.

"Imsidolimab is currently being advanced in 5 other immuno-dermatology indications and we look forward to multiple additional clinical readouts during 2021 and 2022," said Hamza Suria, president and chief executive officer of AnaptysBio.

ANAB, currently at $19.35, has been trading in the range of $12.06- $35.85 in the last 52 weeks.

Read the original article on RTTNews ( https://www.rttnews.com/3175686/stock-alert-anaptysbio-plunges-34-on-negative-news-for-its-drug-in-mid-stage-study.aspx)

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