Shares in medical dermatology company Botanix Pharmaceuticals, led by Perth-based chairman Graham Griffiths and executive director Matt Callahan, have jumped more than 20 per cent today after the company announced successful results from an acne patient study.
Shares in medical dermatology company Botanix Pharmaceuticals, led by Perth-based chairman Graham Griffiths and executive director Matt Callahan, jumped more than 20 per cent today after the company announced successful results from an acne patient study.
Botanix, which has operations in the US, develops prescription products for skin diseases including acne, psoriasis, and atopic dermatitis.
The company’s lead product for acne, BTX 1503, underwent a patient study to test safety, tolerability and pharmacology with top-line data indicating a significant reduction in acne lesions after four weeks of treatment.
Mr Callahan said the product also received an excellent safety profile.
“These acne study results show that BTX 1503 is potentially a very safe and highly effective therapy for the treatment of acne,” he said
“We are extremely excited about the data generated from only four weeks of treatment.
“The large reduction in inflammatory acne lesions observed after this short treatment period, is better than the leading topically applied products currently available on the market.”
Mr Callahan said the company expected even greater reductions in acne lesions when the treatment was extended to 12 weeks.
University of Melbourne dermatology professor Rodney Sinclair highlighted the potential of the product.
“Physicians and patients are always on the lookout for effective new treatments for moderate to severe acne,” he said
“The problem with most of the currently available acne treatments is skin irritation and the time they take to have an effect.
“BTX 1503 shows great promise to be a significant new therapy for treatment.”
Based on the results and having completed a pre-investigational new drug meeting with the US Food and Drug Administration in October, Botanix plans to initiate a phase two study for BTX 1503 in the second quarter of 2018.
Botanix shares finished up 23 per cent at 16 cents after rising to 18.7 cents in early trading.