BioPharmX announces Q3 results, update on BPX-01 for acne

BioPharmX announced in a press release financial results for its third fiscal quarter ending Oct. 31 including total operating expenses of $3.8 million for the quarter compared to $2.2 million the prior year.

The increase in expenses was primarily the result of increased expenditures for BPX-01, the company’s topical acne drug, and pre-clinical preparations and the continued marketing and commercialization efforts for Violet iodine, according to the release.

There was a net loss of $3.9 million for the third quarter, or $0.18 per share, compared with a net loss of $2.3 million, or $0.21 per share, for the same period a year earlier, according to the release.

The company reported that pre-clinical data on BPX-01, the company’s topical acne drug, had suggested that a 1% dose of minocycline in BPX-01 can work as well as 4% topical products under development by other companies, while lowering the likelihood of side effects. The company reports it plans to file an investigational new drug application to the FDA and well as begin phase 2 clinical trial on the drug early 2016, according to the release.

BioPharmX also provided updates on BPX-03, the company’s prescription strength molecular iodine product that complements its Violet iodine product for the treatment of fibrocystic breast condition and overall breast health. BioPharmX plans to complete an investigational review board study during the next year in preparation for phase 3 trials, the release reported.

Reference: www.biopharmx.com