VYNE Q1 2023 Earnings Report
Key Takeaways
VYNE Therapeutics reported revenues of $0.1 million and a net loss of $5.6 million for the first quarter ended March 31, 2023. The company is advancing its pipeline of novel, small molecule BET inhibitors for immuno-inflammatory conditions and expects topline 16-week data for VYN201 in Q3 2023.
Generated important new clinical data for VYN201, demonstrating positive safety and pharmacokinetic results in healthy volunteers.
Successfully completed six-month animal toxicology study for VYN201, allowing extension of the Phase 1b trial in vitiligo patients from 8 weeks to 16 weeks.
Narrowing timing guidance for topline 16-week data for all three cohorts from the Phase 1b portion of the trial to the third quarter of 2023.
Expanded BET inhibitor pipeline after selecting a development candidate for first oral BET inhibitor program, VYN202.
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Forward Guidance
VYNE anticipates that its cash and cash equivalents and restricted cash as of March 31, 2023 will be sufficient to fund its operations into the fourth quarter of 2023, without giving effect to any potential business development transactions or financing activities.