CollaGenex bails on rosacea therapy

CollaGenex delivered a cold shower of clinical data on investors this morning, acknowledging that a mid-stage trial of incyclinide for rosacea was ineffective in reducing lesions. Patients taking the drug did no better than the group taking a placebo. The biotech company had hoped that they had an even better rosacea therapy that Oracea, which was launched last year. CEO Colin Stewart said that that strategy was no longer workable, but that the therapy would continue to be studied as a treatment for acne. CollaGenex is also pursuing new studies of drugs for psoriasis, erythema and other inflammatory skin conditions. CollaGenex shares swiftly plunged 13 percent in premarket trading.

- see CollaGenex's release for more

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