Shares of Aclaris Therapeutics (NASDAQ: ACRS) were crashing 41.7% lower as of 11:29 a.m. ET on Monday. The huge decline came after the company announced preliminary top-line results from a phase 2a clinical study evaluating zunsemetinib (ATI-450) in treating moderate to severe hidradenitis suppurativa, a painful chronic skin condition.

Aclaris reported that the study didn't meet its primary efficacy endpoint of improvement in inflammatory nodule/abscess count compared to placebo. The study also failed to meet its secondary efficacy endpoints. However, zunsemetinib's overall safety profile and its pharmacokinetics (PK) and pharmacodynamics (PD) were generally consistent with what the company has observed in prior clinical studies.

Zunsemetinib is Aclaris Therapeutics' lead pipeline candidate. It's not surprising that the biotech stock plunged after the announcement of the phase 2a clinical flop.

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Source Fool.com