07:17 AM EST, 12/11/2024 (MT Newswires) -- Cipher Pharmaceuticals ( CPHRF ) overnight Tuesday said its partner, Moberg Pharma, has confirmed that its candidate for the treatment of nail fungus, MOB-015, did not meet the primary endpoint in the North American Phase 3 study.

The study involved cutting the daily dosage to eight weeks followed by weekly maintenance treatment for 40 weeks, compared with daily dosing throughout the entire treatment period. The primary endpoint, achieving the complete cure of the patient's target toenail at 52 weeks, was not achieved.

Cipher, which owns the Canadian marketing rights to Moberg's MOB-015 through a 2018 licensing agreement, will make a decision regarding the product after it reviews the trial results. It added that the latest development does not impact the sales and earnings profile of its business today.

The company continues to focus on its acquisition of the anti-lice Natroba business from ParaPRO, and other potential growth opportunities.