Shares of Forte Biosciences plunged after announcing that a Phase II atopic dermatitis trial assessing the company’s lead pipeline candidate failed to demonstrate statistical significance in the primary endpoint.

The U.S. Food and Drug Administration’s Antimicrobial Drugs Advisory Committee voted to recommend approval of Shionogi & Co. Ltd.’s investigational antibiotic cefiderocol for the treatment of complicated urinary tract infections (cUTI), including pyelonephritis, in patients with limited or no alternative treatment options.

Through a strategic collaboration deal with Roche, Warp Drive Bio will use its Genome Mining Platform to investigate potential antibiotics for drug-resistant Gram-negative bacteria.