BioPharmX reports second quarter results, update on BPX-01 for acne

BioPharmX Corp. announced its financial results for the second quarter ending July 31 and an update on its research of BPX-01 topical minocycline for treating acne.

Total operating expenses were $5 million for the second quarter, compared with $3.6 million in the same period a year earlier. The increase resulted primarily from spending for the acne drug clinical trials, according to a press release.

Net loss was $5 million for the second quarter, or $0.18 per share, compared with a net loss of $3.7 million, or $0.24 per share, during the same period in the prior fiscal year, the release reported.

Phase 2a study analysis found that BPX-01 reduced P. acnes by more than 90%. and there were no adverse cutaneous events and no detectable levels of minocycline in plasma reported, according to the release. Enrollment has begun on a phase 2b study, which will measure the efficacy of BPX-01 on reducing lesions caused by P. acnes.

A 28-day pharmacokinetics study that compared oral minocycline to BPX-01 found no detectable minocycline in skin after two weeks daily oral treatment with a 1-2 mg/kg dose, but did find minocycline concentrations in plasma, according to the release.

“Our phase 2a clinical trial exceeded expectations by not only showing BPX-01 can effectively reduce P. acnes bacteria, but that it can do so safely,” Anja Krammer, president of BioPharmX Corp., stated in the release. “We are excited to further the development of our topical minocycline gel, which rivals oral minocycline in eliminating P. acnes without the adverse side effects and has the potential to make a significant impact in the treatment options available for patients with acne.”

Reference: www.biopharmx.com