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AnaptysBio's (ANAB) Acne Study on Imsidolimab Fails to Meet Goal

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Shares of AnaptysBio, Inc. (ANAB - Free Report) were down 10.5% in after-hours trading on Monday after it announced top-line data from the phase II ACORN study, which evaluated its pipeline candidate, imsidolimab, for the treatment of moderate-to-severe acne.

The ACORN study failed to demonstrate efficacy over placebo on both primary and secondary endpoints. Owing to this, the company decided to discontinue the development of imsidolimab for the acne indication.

Shares of AnaptysBio have plunged 18.2% so far this year compared with the industry’s decline of 19.3%.

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AnaptysBio is also developing imsidolimab for addressing dermatological inflammatory diseases like generalized pustular psoriasis (“GPP”), and moderate-to-severe hidradenitis suppurativa, a chronic skin condition.

Enrollment is currently ongoing in the phase III GEMINI-1 GPP study on imsidolimab. The candidate has already demonstrated efficacy and safety in the phase II GALLOP study for treating GPP.

Meanwhile, the phase II HARP study is evaluating imsidolimab for the treatment of moderate-to-severe hidradenitis suppurativa. Top-line data from this study is expected in the second half of 2022.

Apart from imsidolimab, AnaptysBio is also developing two other wholly-owned programs — anti-PD-1 agonist, rosnilimab, and anti-BTLA modulator, ANB032.

The phase II AZURE study is evaluating rosnilimab for treating moderate-to-severe alopecia areata. Enrollment in the study is currently ongoing.

ANB032 is being developed as a potential treatment for inflammatory diseases associated with lymphoid and myeloid immune cell dysregulation. The company is advancing ANB032 in a healthy volunteer phase I study, with top-line data expected in the second quarter of 2022.

In the absence of a marketed product, successful development of the candidates remains in key focus for AnaptysBio.

Zacks Rank & Stocks to Consider

AnaptysBio currently carries a Zacks Rank #5 (Strong Sell).

Some better-ranked stocks in the biotech sector are Athersys, Inc. (ATHX - Free Report) , Kaleido Biosciences, Inc. and Vertex Pharmaceuticals Incorporated (VRTX - Free Report) , all carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Athersys’ earnings estimates have been revised 21.7% upward for 2022 over the past 60 days.

Earnings of Athersys have surpassed estimates in one of the trailing four quarters and missed the same on the other three occasions.

Kaleido Biosciences’ loss per share estimates have narrowed 23% for 2022 over the past 60 days.

Earnings of Kaleido Biosciences have surpassed estimates in three of the trailing four quarters and missed the same on the other occasion.

Vertex’s earnings estimates have been revised 8.4% upward for 2022 over the past 60 days. The VRTX stock has gained 10.1% year to date.

Vertex’s earnings have surpassed estimates in each of the trailing four quarters.

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AnaptysBio, Inc. (ANAB) - free report >>