Cosmo Pharmaceuticals released topline results from two Phase III SCALP trials for clascoterone 5% topical solution in androgenetic alopecia, reporting a combined 252% relative improvement in Target-Area Hair Count (TAHC) versus vehicle. SCALP 2 posted a 539% relative TAHC improvement, while SCALP 1 showed a 168% gain. Investors reacted sharply: the company’s shares rose roughly 40% on the SIX Swiss Exchange following the announcement. Cosmo emphasized that 1,465 patients made this the largest Phase III program for a topical AGA candidate and plans peer-reviewed publication and conference presentations next year. Cosmo noted clascoterone’s 1% formulation is already marketed as Winlevi for acne, giving the company a commercial track record it says could support rapid uptake if regulators and payers agree on the new indication.