Cosmo Shares Soar Most in 17 Years on Hair-Loss Treatment Data
(Bloomberg) — Cosmo Pharmaceuticals NV shares soared the most in 17 years after the company said its experimental treatment for male hair loss showed breakthrough results in two late-stage studies.
The stock jumped as much as 24% in Zurich, the most since December 2008, after the company said the two trials reached statistically significant endpoints. One study showed a 539% relative improvement in target-area hair count for patients who used the clascoterone cream versus the placebo, while the second study showed a 168% relative improvement, Cosmo said in a statement Wednesday.
The drug could help address a market worth several billion dollars if it’s approved, according to Oddo BHF analysts.
Male androgenetic alopecia, also known as male-pattern hair loss, affects 1.2 billion to 2 billion men worldwide. Cosmo said its topical cream is designed to target the biological root cause of the condition by blocking the dihydrotestosterone hormone directly at the hair-follicle receptor. The clascoterone 5% topical solution leverages the same active ingredient used in Winlevi, Cosmo’s acne treatment product.
Dublin-based Cosmo said it’s on track to complete the required twelve-month safety follow-up for the hair-loss treatment. The company plans to submit to US and European regulators upon the completion of the full dataset.
–With assistance from Michael Msika and Allegra Catelli.
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