Pharmaceutical and biotechnology corporation Pfizer Inc. (NYSE:PFE) recently revealed that it has received approval from the U.S. Food and Drug Administration (FDA) for its oral, once-daily, Janus kinase 1 (JAK1) inhibitor, CIBINQO, to treat adults with moderate-to-severe atopic dermatitis (AD). Following the news, shares of the company declined 1.1% on Friday. The stock pared its losses slightly to close at $55 in the extended trading session. Safety & Efficacy The approval was based on results from a large-scale clinical trial program of more than 1,600 patients, with the safety and efficacy of CIBINQO evaluated in three randomized, placebo-controlled, Phase 3 trials.
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