Pfizer Inc (NYSE:PFE) shares declined 1.15% to $26.74 in premarket trading Monday, even after the pharmaceutical company reported positive mid-stage clinical trial results for its experimental antibody therapy targeting atopic dermatitis.
The drugmaker said the antibody, tilrekimig, showed meaningful improvement in symptoms of the chronic inflammatory skin condition during the study. According to Pfizer, a greater proportion of patients receiving the treatment achieved a 75% improvement in symptoms after 16 weeks compared with those given a placebo.
Pfizer also noted that the therapy demonstrated a favorable safety profile and was generally well tolerated by participants in the trial.
The company said it plans to launch a late-stage clinical trial of tilrekimig later this year. In addition to atopic dermatitis, Pfizer is evaluating the antibody as a potential treatment for asthma and chronic obstructive pulmonary disease (COPD).