Journey Medical rises on positive early-stage data for skin disorder drug

Journey Medical

13/06/2023 16:14

** Shares of drugmaker Journey Medical Corp  DERM.O  rise
~17% to $1.95 
    ** Co says its experimental drug to treat skin disorder,
papulopustular rosacea (PPR), met all main goals and was found
safe in early-stage study
    ** PPR is a skin disorder that causes skin redness,
swelling, and pus-filled bumps called pustules
    ** The drug candidate, DFD-29, did not produce significant
negative impact on the normal microorganisms and did not induce
significant bacterial resistance - DERM  
    ** Says it plans to announce late-stage data this month with
filing for marketing application expected in H2 of 2023
    ** 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
    ** Including session gains, stock up ~20% YTD 

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))