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VYNE Therapeutics Receives Positive Data from Phase 1b Trial

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Andrew R. Michaud

• October 30, 2023

VYNE Therapeutics saw a significant boost in its shares, rising by 51% to $3.40, following the release of positive data from its Phase 1b trial. The trial evaluated the efficacy of once-daily dosing of VYN201 in patients with non-segmental vitiligo.

Promising Results and Stock Performance

Although the stock had previously reached its 52-week high of $8.73 on May 9, it has experienced a decrease of 24% over the past 12 months. However, the recent positive data has renewed investor confidence and led to an upward trend in VYNE Therapeutics' shares.

Phase 1b Trial Overview

The Phase 1b trial was a 16-week open-label study that assessed the safety, tolerability, and pharmacokinetics of once-daily topical VYN201. The trial included 29 patients divided into three dose cohorts - 0.5%, 1.0%, and 2.0% strengths. In addition to evaluating safety, the trial also explored the efficacy of VYN201 in arresting the progression of skin depigmentation and supporting skin repigmentation in patients with active disease.

Positive Preclinical Data for VYN202

VYNE Therapeutics has also reported encouraging preclinical data for its oral small molecule BD2-selective BET inhibitor, VYN202. The data demonstrated a positive effect in preclinical models of psoriasis and rheumatoid arthritis, further highlighting the potential of VYNE Therapeutics' pipeline.

Private Placement Financing

To support its ongoing development efforts, VYNE Therapeutics has signed a securities purchase agreement with healthcare-focused institutional investors. The private placement financing is expected to secure approximately $88 million in gross proceeds (before deducting fees and expenses). As part of the financing, VYNE is selling 10.7 million shares of its stock at $2.245 per share and offering pre-funded warrants to buy up to 28.6 million shares at $2.2449 per pre-funded warrant.

In conclusion, the positive data from the Phase 1b trial for VYN201 along with promising preclinical results for VYN202 have generated enthusiasm among investors. VYNE Therapeutics' ongoing efforts and strategic financing aim to further advance its innovative therapies for patients with dermatological conditions.