Agenda-setting intelligence, analysis and advice for the global fashion community.
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 percent in Zurich, the most since December 2008, after the company said the two trials reached statistically significant endpoints. One study showed a 539 percent relative improvement in target-area hair count for patients who used the clascoterone cream versus the placebo, while the second study showed a 168 percent 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 percent topical solution leverages the same active ingredient used in Winlevi, Cosmo’s acne treatment product.
ADVERTISEMENT
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.
By Lisa Pham
Learn more:
Inside the Growing Hair Loss Market
Once a verboten topic, hair shedding testimonials and regrowth solutions are now flooding social media. A host of new startups are attempting to address the growing hair loss market, win consumer loyalty and provide sometimes-elusive results.
