Here's Why Dermira Stock Is Rocketing Higher Today
Shares of Dermira (NASDAQ: DERM), a biopharmaceutical company developing an in-licensed eczema candidate, took off like a rocket after the company announced follow-up results from a mid-stage clinical trial. Investors thrilled with lebrikizumab's performance have driven the biotech stock 25% higher as of 1:16 p.m. EDT on Friday.
Dermira's first drug to earn approval, an underarm sweat preventer called Qbrexza, isn't doing so well in the commercial stage. When the company licensed lebrikizumab from Roche (OTC: RHHBY) in 2017 and began developing it to treat eczema, investors didn't pay much attention. After all, why would a big pharma that spends billions each year developing new drugs let this one go?
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Source Fool.com
