BioPharmX reports Q1 results, acne treatment update

BioPharmX Corporation reported financial results for the first quarter ending April 30, as well as an update on BPX-01, its investigational topical drug for acne.

The specialty pharmaceutical company presented comprehensive phase 2b clinical data during a recent "State of Acne" symposium showing that BPX-01 2% achieved its primary endpoint, reducing the number of inflammatory lesions in acne patients by 59%, compared with 44% in vehicle. There were no serious drug-related adverse side effects experienced, and findings suggested it may also lessen the severity of lesions, according to a press release.

A phase 3 program is expected to begin later this year, with BioPharmX reporting it is exploring a variety of funding alternatives, including both dilutive and non-dilutive financing options and strategic partnerships.

“The enthusiasm investigators expressed about our phase 2b trial results confirms our excitement about BPX-01 as we finalize plans for phase 3 research,” Anja Krammer, BioPharmX president, stated in the release.

Total operating expenses for the first quarter were $5 million, compared with $4.5 million in the prior fiscal year's first quarter. The increase resulted primarily from higher spending for the company's acne drug clinical trials, offset promotions related to the company's Violet product, according to the release.

Net loss for the first quarter of fiscal year 2018 was $5.4 million, compared with a net loss of $4.5 million during the same period a year earlier, BioPharmX reported.

Reference: www.biopharmx.com