BTIG analyst Julien Harrison downgraded VYNE Therapeutics (VYNE) to Neutral from Buy with no price target after the company’s Phase 2b trial assessing repibresib in nonsegmental vitiligo did not achieve its primary endpoint and also missed the secondary endpoint. The full data set will be further analyzed to inform results and strategic next steps, while the management intends to seek a development and commercialization partner for repibresib and plans to provide an update on repibresib and VYN202, which is currently on partial clinical hold by the FDA, plans in the coming weeks, the analyst tells investors in a research note.
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