UPDATE 1-Barrier says drug candidate misses goal, shares fall
(Adds details, stock movement)
June 14 (Reuters) - Shares of Barrier Therapeutics Inc. BTRX.O lost more than half of their value in pre-market electronic trade on Thursday, after it said a mid- and late-stage study of a drug candidate for treating a genetic skin disorder missed statistical significance for the primary goal.
The pharmaceutical company said it has no plans to further develop the product candidate itself. The compound, Liarozole, was to treat lamellar ichthyosis, a rare genetic disorder characterized by a thick scaling of the skin over large body areas, the company said in a statement.
Statistically significant differences as compared to placebo were not achieved for the erythema or pruritus scores, which were less severe at baseline, the company said.
The company said it intends to provide the data from the study to U.S. and European regulatory authorities and to companies focused on orphan drugs.
Shares of the company fell more than 52 percent to $3.10 in early electronic trade, after closing at $6.56 Wednesday on the Nasdaq.
(Reporting by Deepti Chaudhary in Bangalore)
((Editing by Bernard Orr; Reuters Messaging: deepti.chaudhary.reuters.com@reuters.net; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800)) Keywords: BARRIERTHERAPEUTICS TRIAL/
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