VYNE Therapeutics said its Phase 2b study of Repibresib gel in 177 adults with nonsegmental vitiligo failed to reach the trial’s main goal—achieving at least a 50% improvement in the Facial Vitiligo Area Scoring Index (F-VASI50) at Week 24—compared with a vehicle control. The treatment also missed the key secondary endpoint of a 75% improvement (F-VASI75). While the 3% concentration delivered a nominally significant 43.6% mean reduction in facial depigmentation versus 25.6% for vehicle, the company attributed the overall shortfall to an unusually high response in the placebo arm and higher-than-expected dropout rates in active cohorts. On the back of the data, VYNE will discontinue dosing in the trial’s extension phase and look for an external partner to continue developing the topical BET inhibitor. Management said it expects to end the second quarter with about $39.6 million in cash, pending final results. The disappointing readout sent VYNE shares tumbling roughly 45% in pre-market trading on Wednesday before the stock was temporarily halted.