MOB-015 Phase 3 Results Fall Short of Expectations

The partner of Cypher Pharmaceuticals Inc., Moberg Pharma AB, has learnt of a clinical cure in a subset of patients enrolled in the current Phase 3 research for MOB-015, a medication used to treat nail fungus, in North America. According to Moberg, fewer individuals than anticipated in this blinded sample of patients have experienced a clinical cure. Cypher holds the Canadian commercialisation rights for Moberg's MOB-015 according to a September 18, 2018, license agreement. The business paid US$0.5 million up front, with the possibility of receiving payments of up to US$14.1 million in the future in the event that clinical data outcomes and development, regulatory, and commercial sales goals are met.

If the relevant development and regulatory milestones are not reached, Cypher will not be subject to any additional financial commitments under the terms of the Agreement. The business and Moberg will keep working together when the whole findings of their clinical research are made public. Cypher is also concentrated on other possible expansion options including its recent acquisition of the NatrobaTM business from ParaPRO LLC.