VYNE Q2 2022 Earnings Report
Key Takeaways
VYNE Therapeutics reported a net loss of $8.5 million for the second quarter of 2022, compared to a net loss of $19.9 million for the same period in 2021. Revenues for the quarter were $0.1 million, a decrease from $0.3 million in the prior year, primarily due to the sale of the MST Franchise. The company's cash and cash equivalents were $42.8 million as of June 30, 2022 and anticipates that it will be sufficient to fund its operations into the third quarter of 2023.
Reported revenues of $0.1 million, consisting of royalty revenue, compared to $0.3 million in the prior year.
Net loss was $8.5 million, compared to a net loss of $19.9 million for the same period in 2021.
Research and development expenses decreased to $4.1 million from $5.0 million in the prior year.
Cash and cash equivalents totaled $42.8 million as of June 30, 2022.