Menlo Therapeutics (MNLO) is a biopharma focusing on the development and commercialization of dermatologic products. Its first product to market, Amzeeq, is a topical minocycline foam for the treatment of acne, and now Menlo has a second product, Zilxi for rosacea, that has received FDA approval. As Menlo ramps up efforts to initiate and grow sales of these products, the company looks extremely undervalued, trading with a current market cap around the combined low ends of peak sales estimates for just these 2 products and completely ignoring the third product with Phase 2