AbbVie shares rally on positive eczema study, competitor Regeneron drops – Investing.com

Investing.com - AbbVie Inc 's (NYSE:) shares climbed on Thursday after the company announced that its mid-stage trial data for its drug, upadacitinib, to treat moderate-to-severe eczema met its primary endpoint.

The study showed positive results for upadacitinib with no new safety signals detected, and all doses achieved the primary endpoint of greater mean percentage change from baseline in eczema area and severity index versus a placebo. Clear or almost clear skin was achieved by 50 percent of patients receiving 30 mg once-daily dose of upadacitinib.

Upadacitinib is being studied as a once-a-day therapy in eczema (atopic dermatitis) and across multiple immune-mediated diseases.

AbbVies shares jumped on the news, but Regeneron Pharmaceuticals shares fell on the potential for new competition for Regeneron's eczema drug, Dupixent, which was approved by the U.S. Food and Drug Administration in March.

AbbVies shares were recently up 6.2%, Regenerons were down 6%.

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AbbVie shares rally on positive eczema study, competitor Regeneron drops - Investing.com