Palatin’s stock plummets 43% as lead asset fails PhIII dry eye co-primary endpoints

Al­though Palatin Tech­nolo­gies’ lead drug can­di­date missed a pair of pri­ma­ry end­points in a Phase III dry eye dis­ease tri­al, the com­pa­ny be­lieves there’s still a fu­ture for the as­set af­ter fur­ther analy­sis ad­just­ed for study par­tic­i­pants’ age and gen­der.

The MELODY-1 tri­al in­ves­ti­gat­ed the melanocortin re­cep­tor pan-ag­o­nist, dubbed PL9643, ad­min­is­tered three times a day for 12 weeks ver­sus ve­hi­cle oph­thalmic so­lu­tion in dry eye dis­ease (DED). Per a planned analy­sis, the can­di­date missed sig­nif­i­cance in the co-pri­ma­ry end­points of change in pain and con­junc­ti­val lis­samine green stain­ing.

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