Shares of drugmaking giant Pfizer (PFE - Get Report) gained on Monday after the company announced positive results in a late-stage, non-steroid trial of a treatment for chronic dermatitis, or eczema, in kids.
Shares of Pfizer rose in early trading on the New York Stock Exchange after the company said a Phase 4 study of a steroid-free topical ointment it has been working on called crisaborole "was well-tolerated in children aged 3 months to less than 24 months with mild to moderate atopic dermatitis (AD), also known as eczema."
Crisaborole ointment, 2%, is currently approved in select countries for mild to moderate AD in patients two years of age and older.
"These results add to the growing body of evidence that underscores the strength of data for crisaborole as a steroid-free, topical treatment option for people with mild to moderate atopic dermatitis," Michael Corbo, Chief Development Officer, Inflammation & Immunology with Pfizer's Global Product Development group said in a statement.
Scott Gottlieb Joins Pfizer Board Weeks After Departing from FDA httpdlvr.itR7bLPxÂpic.twitter.comMbkfMoD6Sf: Scott Gottlieb Joins Pfizer Board Weeks After Departing from FDA httpdlvr.itR7bLPx pic.twitter.comMbkfMoD6Sf https://t.co/NrI2hcaG1u— Pfizer (@Pfizer_bio) July 1, 2019
AD is a chronic skin disease characterized by inflammation of the skin that can cause dryness, redness and in some cases skin legions. It is among the most common, chronic, relapsing childhood skin conditions, affecting up to 20% of children worldwide and 10% of adults globally.
Separately, Pfizer announced last week that former Food and Drug Administration Director Scott Gottlieb has joined the company's board of directors.
Pfizer shares were up 0.32% at $43.48 in trading on Monday.