Sanofi shares slid Thursday after the company reported underwhelming results from a closely watched trial in the skin condition atopic dermatitis, part of the French firm’s major push into immunology .

Sanofi said the drug being tested, called amlitelimab, met all primary and key secondary endpoints in the Phase 3 COAST 1 trial, including lowering disease severity and clearing patients’ skin versus placebo. But the results may not stack up against those from other medicines, including Dupixent, the mega-blockbuster approved for a number of inflammatory diseases that Sanofi sells with Regeneron Pharmaceuticals.

Sanofi shares were down 10% Thursday morning.

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