Foamix Pharmaceuticals Ltd (NASDAQ: FOMX) is having a strong start to the trading session this morning, and for good reason. The company announced positive clinical results from a Phase 3 trial. As you could imagine, the news excited investors, sending the stock on a run for the top. Today, we’ll talk about:
- The clinical data;
- what we’re seeing from FOMX as a result; and
- what we’ll be watching for ahead.
FOMX Reports Positive Clinical Data
As mentioned above, Foamix Pharmaceuticals is having an incredibly strong start to the trading session this morning after announcing positive clinical results. In a press release issued early this morning, the company released topline results from its Phase 3 clinical development program evaluating FMX103 1.5% minocycline foam. FMX103 is being developed as an option to treat moderate-to-severe papulopustular rosacea.
FOMX said that two studies, FX2016-11 and FX2016-12 met their co-primary endpoints. These included absolute change from baseline in inflammatory lesion count at week 12 and Investigator Global Assessment treatment success at week 12. The company also said that data from FX2016-13 evaluating the long-term safety of the treatment are expected to be reported in the first half of 2019.
In a statement, David Domzalski, CEO at FOMX, had the following to offer:
We are very pleased with these top line Phase 3 results of FMX103, which demonstrate that FMX103 can provide a meaningful improvement in disease symptoms and confirm the positive results from previous clinical studies… FMX103 has the potential to address significant unmet medical needs in papulopustular rosacea. This product leverages our proprietary foam technology, and we believe if FMX103 is approved it would be the first topical minocycline product available for rosacea patients. We will continue to share further data from these studies as they become available over the remainder of 2018, and our goal is to file an NDA for FMX103 in the U.S. in 2019.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. In the case of Foamix Pharmaceuticals, the news proved to be overwhelmingly positive. After all, the data released supports the continued development and possible regulatory approval of the treatment. So, it comes as no surprise to see that excited investors are pushing the stock toward the top. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (9:03), FOMX is trading at $5.21 per share after a gain of $0.73 per share or 16.29% thus far today.
Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on FOMX. In particular, we’re interested in following the continued development of FMX103 as the treatment seems to be yielding positive results in trials. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!