Business
VYNE Therapeutics Reports Second Quarter 2021 Financial Results and Announces New Strategic Direction to Develop Treatments for Immunological and Inflammatory Diseases
Company announced license agreement with In4Derm Limited for BETi platform earlier this morning Company has initiated a process to explore a sale or license
About this update from Vyne Therapeutics Inc.
[{"type":"text","content":"Company announced license agreement with In4Derm Limited for BETi platform earlier this morning Company has initiated a process to explore a sale or license of its topical minocycline franchise Phase 2a results for FMX114 expected by year end and VYN201 and VYN202 to enter the clinic in 2022 Company has prepaid the entirety of its outstanding debt and expects to significantly reduce operating expenses Conference call and live webcast today at 8:30 am Eastern Time BRIDGEWATER, N.J., Aug. 12, 2021 (GLOBE NEWSWIRE) -- VYNE Therapeutics Inc. (Nasdaq: VYNE) (“VYNE” or the “Company”) today announced financial results for the second quarter ended June 30, 2021. The Company also announced that following an evaluation of its commercial and research and development assets, it has determined to transition its focus and resources to developing treatments for immuno-inflammatory diseases of high unmet medical need and has initiated a process to explore a sale or license of its topical minocycline franchise. Strategic Process to Sell or License Topical Minocycline Franchise VYNE conducted a review of its commercial and research and development portfolio of assets to determine how to optimally deploy capital and maximize shareholder value. Following this review, the Company has determined to initiate a process to explore a sale or license of its topical minocycline franchise, including AMZEEQ, ZILXI and FCD105 (the Company’s Phase 3 proprietary novel topical combination foam formulation of minocycline and adapalene for the treatment of moderate-to-severe acne vulgaris), as well as the underlying Molecule Stabilizing Technology platform specific to this portfolio. As VYNE transitions its focus and spend toward developing its pipeline, the Company expects to immediately reduce certain of its operating expenses currently supporting its commercial operations, but intends to maintain its sales force into the fourth quarter of 2021 while it seeks a commercial partner. “We continue to face headwinds commercializing our products in this environment,” said David Domzalski, CEO of VYNE. “We have been evaluating our portfolio of assets for some time in order to determine how to optimally deploy capital and drive shareholder value. After careful consideration, we have made the strategic decision to initiate a process to sell or license our topical minocyc...