Realm Therapeutics plc (RLM), a clinical stage bio-pharmaceutical company focused on developing novel therapeutics in immune-related diseases based on its proprietary hypochlorous acid (HOCl) technology, has reported preliminary top-line data from its Phase II trial of PR022 in Atopic Dermatitis, in tandem with H1’18 financial results.
RLM’s randomised, double-blind, placebo controlled, Phase II clinical trial, PR022 showed no difference from vehicle in the primary endpoint of percentage change in Eczema Area Severity Index (EASI) versus baseline.
The Company is currently analysing the data to interpret the top-line result, as well as the other data collected in the study. The conclusions of this review will be used to inform decision-making going forward, and this includes evaluating the implications of these data for RLM’s preclinical HOCl dermatology pipeline in Acne and Psoriasis – both of which had been making good progress.
The Company indicates that it will also review the possibility of acquiring one or more new assets, although no specific detail is available. Management expect to disclose the outcome of the review in September.
RLM reported a higher H1’18 net loss of $10.6m compared to a loss of $3.9m in H1’17. This was primarily due to an increase operating expenditure to $10.9m in H1’18 (versus $4.6m in H1’17) and included $7.4m of R&D costs to cover the clinical studies of PR022 and PR013 and $3.5m of G&A to cover NASDAQ listing.
Consequently, the Company reported net cash and equivalents and short-term investments of $23.7m for the period to the end of June 2018.
