2023-07-03 11:49:42 ET
Shares of Journey Medical ( NASDAQ: DERM ) rallied 20% in midday trading Monday following news that it expects to receive topline results the week of July 10 from two Phase 3 clinical trials for its dermatology drug DFD-29 in the treatment of rosacea.
The clinical trials are testing the safety, efficacy and tolerability of DFD-29 against a placebo and Galderma's Oracea, a formulation of doxycycline, in the treatment of moderate-to-severe papulopustular rosacea.
Journey is co-developing the drug with Dr. Reddy's Laboratories ( NYSE: RDY ). The company was founded by Fortress Bio ( NASDAQ: FBIO ).
More on Journey:
Journey Medical climbs 21% after Phase 1 data for skin disease candidate
Journey Medical Non-GAAP EPS of -$0.30, revenue of $12.2M misses by $3.98M
For further details see:
Journey Medical stock rallies 20% on Phase 3 studies update