Piper reiterates Overweight on Menlo Therapeutics after Phase II miss
Piper Jaffray analyst David Amsellem calls Menlo Therapeutics' serlopitant missing the primary and secondary endpoints in a Phase IIb study in patients with pruritis associated with atopic dermatitis as "big disappointment." The analyst, however, does not infer that the setback in atopic dermatitis "necessarily raises the risk" surrounding the prurigo nodularis Phase III trials. Prurigo nodularis is an altogether different condition, Amsellem tells investors in a research note. He believes last night's trial miss "should not call into question the overall viability of serlopitant as an anti-pruritic agent." Amsellem reiterates an Overweight rating on Menlo Therapeutics.