Jun 22nd 2012 - Edison Investment Research today published a report on Hybrigenics entitled "Psoriasis Future In The Balance". In summary, the report says:
The low clinical response rate in the Phase II study of inecalcitol in moderate to severe psoriasis combined with a high placebo response is a significant setback for Hybrigenics. However, ongoing evaluation of the trial results could provide a way forward in this indication. Various topical Vitamin D treatments are indicated for mild psoriasis, although their use is limited by the risk of hypercalcemia. We have lowered our valuation from €73m to €51m.
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