Realm Therapeutics laments conjunctivitis failure

Investors in Realm Therapeutics were weeping after the company's potential conjunctivitis treatment failed to function in clinical tests.

AIM-listed Realm decided to discontinue further development of its PR013 topical ophthalmic allergic conjunctivitis treatment after its "did not demonstrate efficacy" in a Phase II study.

The company said it was "on track" with a Phase II trial for a topical gel to treat atopic dermatitis, with top level results anticipated before the end of September. "Due to different immunologic pathways atopic dermatitis is not related to allergic conjunctivitis," it stressed.

Realm intends to file a investigational new drug application with the US Food & Drug Administration for its RLM023 acne programme before the end of the year, with the pre-clinical development said to be "advancing well" and following preliminary discussions with the regulator.

"While the PR013 results are disappointing, we are extremely pleased with the progress we are making with our dermatology programs, as they continue to be our top priority," said chief executive Alex Martin.

"Atopic dermatitis and acne vulgaris have different immunologic pathologies and are otherwise unrelated to allergic conjunctivitis. We remain confident in our technology's potential to deliver immunomodulatory and anti-inflammatory benefits, and continue to believe that it has potential for application in multiple disease areas."

Realm shares, which had surged around 67% since last September's 52-week low to a three and a half high of 47.5p, but were down 29% on Monday to 33.9p