Moberg Pharma Updates on MOB-015 Phase 3 Study in Partnership with Cipher Pharmaceuticals

Cipher Pharmaceuticals Inc., based in Mississauga, Ontario, announced an update from its partner Moberg Pharma AB regarding the ongoing North American Phase 3 study for MOB-015, a treatment for nail fungus. According to Moberg's statement, the clinical cure rate observed in a subset of patients is lower than anticipated, prompting the company to inform the market.

Cipher Pharmaceuticals holds exclusive Canadian marketing rights to MOB-015 under a licensing agreement signed on September 18, 2018. The agreement included an upfront payment of $0.5 million, with additional contingent payments of up to $14.1 million based on the achievement of specific clinical, regulatory, and commercial milestones. If these milestones are not met, Cipher has no further financial obligations under the agreement.

Despite the lower-than-expected results in the current clinical trials, Cipher plans to continue collaborating with Moberg as more data becomes available. The company emphasized that this development does not affect its current sales and earnings.

Cipher Pharmaceuticals is currently concentrating on the recent acquisition of the Natroba business from ParaPRO LLC, announced on July 29, 2024. The company sees significant growth potential for Natroba, particularly in the U.S. market and other international regions. Integrating this new acquisition into its North American operations is a top priority.

Cipher Pharmaceuticals is a specialty pharmaceutical company with a diverse portfolio of both commercial and development-stage products, primarily focused on dermatology. The company is involved in acquiring products that address unmet medical needs and managing the necessary clinical development and regulatory approval processes. Cipher markets its products in Canada, the U.S., and South America.