Pfizer's dermatology drug trial results are positive, but stock price still declines

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Investing.com – Pfizer Inc. (NYSE:PFE) stock price fell 1.15% to $26.74 in pre-market trading on Monday, despite the company announcing positive results from mid-stage clinical trials of its experimental antibody therapy for atopic dermatitis.

The pharmaceutical company stated that its antibody drug tilrekimig successfully alleviated symptoms of this chronic itchy skin condition in the study. The company said that, compared to placebo, after 16 weeks, the therapy helped more patients achieve 75% symptom improvement.

Pfizer indicated that the antibody drug was well tolerated in the trial.

The company plans to initiate late-stage trials of tilrekimig later this year. Pfizer is also testing the drug as a potential treatment for asthma and chronic obstructive pulmonary disease.

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