BTIG lowered the firm’s price target on Aclaris Therapeutics to $8 from $29 and keeps a Buy rating on the shares. The firm said efficacy results were a “negative surprise,” as the placebo arm outperformed most other late-stage RA trials and the zunsemetinib arms showed unexpectedly high discontinuation rates. BTIG added that it has removed zunsemetinib from its model and increased its discount rate to 25%.
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- Aclaris Therapeutics’ zunsemetinib did not meet Phase 2b endpoints in arthritis