Journey Medical rises on completing enrollment in skin disorder drug trial

Journey Medical

10/01/2023 18:52

** Shares of drugmaker Journey Medical Corp  DERM.O  gain
~14% to $1.82 
    ** Co says it has fully enrolled patients in its late-stage
study of experimental drug, DFD-29, for treating papulopustular
rosacea  
    ** Papulopustular rosacea is a skin disorder that causes
skin redness, swelling, and pus-filled bumps called pustules
    ** Co says it plans to announce topline data from the study
in H1 of 2023, with marketing application filing expected in H2
of this year
    ** Also says it expects DFD-29 to achieve peak annual net
sales of over $100 mln, if approved
    ** Drug's study is part of collaboration with Indian firm
Dr. Reddy's Laboratories Ltd  REDY.NS  for development and
commercialization of the DFD-29 program - DERM
    ** DERM shares lost ~64% in 2022
 (Reporting by Raghav Mahobe)
 ((Raghav.Mahobe@thomsonreuters.com;))