Needham & Company Remains Positive on Dermira (DERM) Following Strong CIMPASI-2 Trial Data

October 3, 2016 2:18 PM EDT
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Price: $30.72 +2.81%

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Needham & Company affirms Dermira, Inc. (Nasdaq: DERM) with a Buy rating and $46 price target after the company and UCB announced topline results from CIMPASI-2, a Phase 3, multi-center, placebo-controlled clinical trial evaluating the efficacy and safety of CIMZIA (certolizumab pegol) in adult patients with moderate-to-severe chronic plaque psoriasis.

The firm commented today, DERM began 4Q16 in style with positive results from CIMPASI-2, the first of three ph 3 pivotal trials evaluating Cimzia as a treatment for moderate-to-severe psoriasis. CIMPASI-2 successfully met co-primary endpoints (% of patients achieving PASI 75 and % of patients achieving . 2-point improvement on PGA scale) at week 16. The other two ph 3 pivotal studies (CIMPASI-1 and CIMPACT) are expected to report results by the end of 1Q17. Recall, Cimzia, a TNF inhibitor, is being developed by DERM as part of a collaboration with UCB. DERM is eligible to receive development/regulatory milestones as well as tiered sales royalties. Cimzia has shown an attractive safety/benefit profile that compares favorably to other TNF inhibitors approved for psoriasis.

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