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Maker of sweaty armpit treatment sees shares slide

Irfan Khan | Los Angeles Times | Getty Images

Dermira's investors were feeling the heat Thursday as the biotechnology stock slid more than 4 percent.

Dermira's experimental therapy, an easy-to-use topical wipe for excessive underarm sweating, was successful in two late-stage studies, the company announced late Wednesday. The stock edged higher after hours Wednesday, but erased those gains in Thursday's regular session to trade around $30 a share.

Based on the results of the two studies, Dermira said it plans to submit a New Drug Application (NDA) to the FDA by the second half of 2017 for potential approval.

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