** Shares of VYNE Therapeutics VYNE.O plummet 72% to an all-time low of 40 cents
** Stock set for its worst day in over 7 years, if losses hold
** Co says its skin disease drug, Repibresib gel, for vitiligo failed to meet its mid-stage trial goals, of improving facial vitiligo by at least 50% or 75%
** VYNE will halt the trial's ongoing extension phase and seek an external partner to continue developing Repibresib
** Repibresib gel caused more mild skin side effects and application site pain than placebo, co says
** Co had about $39.6 million in cash as of June 30
** Including session's move, stock down 88% YTD
(Reporting by Kamal Choudhury in Bengaluru)
((Kamal.Choudhury@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.