Durect Corporation has announced new results from its Phase II trial trial of DUR-928, which evaluated the drug in patients with mild to moderate plaque psoriasis.

The company says that in the trial, DUR-928 did not demonstrate a benefit over placebo based on Investigator's Global Assessment (IGA); the scoring system for the primary analysis.

Further, it didn’t show any clinical benefit in any of the trial’s secondary analyses either. Based on the failure, the company does “not plan to continue development of topical DUR-928 in psoriasis," said James E. Brown, president and chief executive officer of Durect.

The trial was a Phase IIa, randomised, double-blind, vehicle-controlled, multi-center, proof-of-concept study, in which DUR-928 was applied topically once-daily for 28 days with a 28-day follow-up period.

Brown added, "With the recently announced positive results from our Phase IIa alcoholic hepatitis trial, our focus moving forward with DUR-928, will be on completing the NASH trial in the first half of this year and initiating the Phase IIb AH trial in the middle of the year."

On the news, shares in the company fell as much as 34%.