BioPharmX BPMX Stock News

Biopharmx Corp (NYSEAMERICAN: BPMX) is seeing trading up early this morning, with gains of more than 7%. The gains come following the company’s announcement of positive clinical data that will likely support an entrance into a pivotal trial. Here’s what’s going on:

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BPMX Stock Is Up On Clinical Data

In a press release issued in the pre-market this morning, BioPharmX announced positive results from a Phase 2b clinical trial. Through the trial, the company assessed BPX-041 as a potential treatment for moderate-to-severe papulopustular rosacea.

BPX-041 is a novel topical gel formulation of fully solubilized minocycline. In the release, BPMX said that both the primary and secondary endpoints of the trial were met. These endpoints included the demonstration of a statistically significant mean change in the number of facial inflammatory lesions and a two-grade improvement to clear or almost clear on the Investigator’s Global Assessment scale from baseline to week 12.

With both, the primary and secondary endpoints met, the company is gearing up for a pivotal Phase 3 trial of BPX-04. Should this go well, a market entrance is likely in the relatively near future.

In a statement, Dr. David S. Tierney, CEO at BPMX, had the following to offer:

We are extremely pleased with the positive outcome on both the primary and secondary efficacy measures as well as the confirmation of the safety and cutaneous tolerability of our minocycline gel formulation.

We view these results as further affirmation of the benefits of BioPharmX’s proprietary HyantX delivery system. Based on the efficacy and safety profile, we believe BPX-04 has the potential to be the best-in-class treatment for papulopustular rosacea.

The Market Potential Here Is Serious

As BioPharmX moves toward the late-stage development of BPX-04, it’s time to start thinking about market potential. When it comes to this treatment, the potential here is incredible.

Rosacea is a large and growing market. In fact, at the moment, it is growing with a compound annual growth rate, or CAGR, of nearly 7%. As a result of the strong growth, experts are expecting that the market will grow to be worth $2.6 billion annually by the year 2025.

It would be unreasonable to expect that BPMX and its BPX-04 product would take all, or even the majority of this market. The good news is that it doesn’t need to. With a market cap around $10 million, even tapping into a very small portion of this market would be a meaningful value driver for the company.

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Final Thoughts

Should all go well in Phase 3 trials, and BioPharmX receive FDA approval for BPX-04, it will likely propel the company to the next level. With a strong commercial opportunity in the treatment, and data suggesting that the company will easily be able to tap into this opportunity in the coming years, BPMX is a stock that’s well worth watching.

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