Biopharmx Corp (NYSEMKT:BPMX) is having a rough day in the market today, and for good reason. The company released clinical data, and while the primary endpoint was met, there were some concerns in the data. As a result, investors were struck with fear, sending the stock downward and prompting our partners at Trade Ideas to alert us to the declines. At the moment (9:50), BPMX is trading at $0.57 per share after a loss of $0.28 per share (32.93%) thus far today.
BPMX Falls On Clinical Data
As mentioned above, BioPharmx is having a rough day in the market today after releasing clinical data from a Phase 2b trial. The trail was conducted to evaluate BPX-01. The treatment is the first completely solubilized topical minocycline gel product candidate for the treatment of moderate-to-severe acne.
At first glance, the news released by BPMX seemed to be overwhelmingly positive. Topline results showed that the study did meet its primary endpoint. The treatment showed statistically significant reductions in non-nodular inflammatory acne lesions.
While the data looks great from the top line, the secondary endpoint wasn’t so positive, which is what seemed to lead to concerns among investors. The secondary endpoint was defined as the proportion of subjects with at least a two-grade reduction in IGA to clear “0” or almost clear “1.” The proportions of patients that reached these grades of clarity were: 22.7% reached 2%; 16% reached 1%. Unfortunately, this data did not prove to be statistically significant. As a result, the secondary endpoint was unmet, leading to concerns among investors. Nonetheless, Co-Founder and President at BPMX, Anja Krammer, was proud of what the team had accomplished. Here’s what he had to say in a statement:
“These results represent a major milestone for the company and offer the potential of BPX-01 as the first topical gel minocycline for moderate-to-severe acne, optimizing safety and efficacy of a proven antibiotic for this condition to millions of patients… We look forward to sharing detailed phase 2b data with the investor and medical communities over the coming months.”
Stop wasting your time! Find winning trades in minutes with Trade Ideas!
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on BPMX. In particular, we’re interested in following the company through the development of BPX-01. While the secondary endpoint wasn’t met with regard to the Phase 2b trial, the primary endpoint showed some incredible promise. We’ll continue to follow the story closely and bring the news to you as it breaks!
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!