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Dermira Inc. (DERM) Plunged To A New Low After Phase 3 Study Failed

Dermira Inc. (DERM) announced Monday morning that olumacostat glasaretil did not meet the co-primary endpoints in its two Phase 3 studies.

Dermira gapped open dramatically lower Monday, but was range-bound throughout the session. The stock closed down by 16.57 at $8.59 on the highest volume of the year. Dermira plunged to a new low for the year.

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