Biopharmx Corp (NYSEMKT:BPMX)
Biopharmx Corp (NYSEMKT:BPMX) a specialty pharmaceutical firm advancing offerings for the dermatology market, released a financial report for the quarter and year closed January 2017, and will release an update on the firm’s clinical development measures and highlights.
Anja Krammer,President of Biopharmx Corp (NYSEMKT:BPMX), reported that they are delighted to announce that last year was an extremely productive year for company. They recorded major clinical milestones and attracted considerable attention for their dermatology research. They look forward to developing the BPX-01 plan in both rosacea and acne indications and launching another product from their set of unique drug delivery platforms into clinic.
Biopharmx Corp (NYSEMKT:BPMX) closed enrollment of the firm’s Phase 2b study of BPX-01, company’s innovative topical gel formulation of minocycline. Utilizing an active IND for ‘BPX-01’, started a 12-week feasibility trial of BPX-01 1% minocycline for the cure of rosacea. The company presented research at 7 pioneer medical conferences indicating that BPX-01 delivers both anti-inflammatory and antibacterial advantages in the acne treatment.
The presentations reported unique imaging techniques, indicating that BPX-01 successfully targets P. acnes in the skin without the general side impacts of oral minocycline. For Q4 2017, total operating costs came at $4.3 million as against total operating costs of $4.4 million in the preceding year’s fourth quarter.
Net loss for Q4 2017 came at $5.2 million as against a net loss of $4.6 million during the preceding year quarter. During the fourth quarter of the preceding year, the net loss was $4.2 million. Total operating costs for the fiscal year came at $18 million as against total operating costs of $15 million in the preceding year. This increase resulted mainly from higher expenditures for the firm’s clinical study activities linked to BPX-01.
Net loss for the fiscal year was $18.5 million as against a net loss of $16 million during the prior year. Cash and cash equivalents as of January 31, 2017, were $6.5 million.
Biopharmx Corp (NYSEMKT:BPMX) consensus score on Reuter’s scale was unchanged at 2 during a month. Street analysts had a 12-month stock price target of $3 per share. That price target indicates a 445.45% gain from where the stock is currently trading. In the last trading session, the stock surged over 10% on massive share volume of 1.52 million and closed the day at $0.550.
|Last Price a/o 3:21 PM EST||$0.55|
|Market Cap (mlns)||$37.30M|
|Shares Outstanding (mlns)||67.81M|
|Share Float (mlns)||59.78M|
|Short Interest Ratio||2.06|
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About the author: Monica Gray has an undergraduate degree in Accounting and an MBA – earned with Honors. She has six years of experience in the financial markets and has been a securities analyst for the past two years.