Celldex Therapeutics reported Wednesday that its experimental medicine for a condition that causes chronic hives reduced hive activity in patients, completely clearing it in some.
However, there was a high rate of patient discontinuations in the trial, due in part to side effects including changes in hair color. Those concerns sent Celldex shares down more than 20% following the company’s announcement.
The Phase 2 study tested different doses of the drug, called barzolvolimab, against placebo in 200 patients with chronic spontaneous urticaria. CSU, as it’s known, is an inflammatory condition characterized by the sudden appearance of painful, inflamed, and itchy hives.