Cosmo Shares Soar Most in 17 Years on Hair-Loss Treatment Data

Cosmo Pharmaceuticals NV shares soared the most in 17 years after the company said its experimental treatment for male hair loss showed breakthrough results in two late-stage studies.

The stock jumped as much as 24% in Zurich, the most since December 2008, after the company said the two trials reached statistically significant endpoints. One study showed a 539% relative improvement in target-area hair count for patients who used the clascoterone cream versus the placebo, while the second study showed a 168% relative improvement, Cosmo said in a statement Wednesday.