VYNE Therapeutics reports Q3 EPS ($201) vs. ($2.94) last year

Reports Q3 revenue $0.1M vs. $0.2M last year. “We have made substantial progress in advancing our business in recent months,” said David Domzalski, President and Chief Executive Officer of VYNE. “With positive results from our Phase 1b trial, we believe there is strong support to advance VYN201 as a potential category-leading therapy in the treatment of vitiligo. In addition, we remain on track to submit our IND for VYN202 by the end of this year, with plans to initiate a Phase 1a single ascending dose/multiple ascending dose trial in the first quarter of 2024. Upon successful completion of the Phase 1a trial, we plan to initiate Phase 1b proof-of-concept trials in moderate-to-severe plaque psoriasis and in moderate-to-severe adult-onset rheumatoid arthritis in the second half of 2024. Our completion of an $88.2 million capital raise from premier healthcare investors significantly strengthens our balance sheet and we believe highlights the enthusiasm for our InhiBET(TM) platform,” continued Mr. Domzalski. “By extending our cash runway through the end of 2025, we can focus on executing our strategy of validating BET inhibition as a treatment for immuno-inflammatory conditions and delivering on key value-creating milestones.”