Why Are Journey Medical Shares Trading Higher Today
Portfolio Pulse from Vandana Singh
Journey Medical Corporation (NASDAQ:DERM) announced positive topline data from the Phase 1 clinical trial of DFD-29, a treatment for papulopustular rosacea developed in collaboration with Dr. Reddy's Laboratories Ltd (NYSE:RDY). The trial showed no significant safety issues and indicated that DFD-29 can be safely used for up to 16 weeks. DERM shares are up 8.98%.
June 13, 2023 | 2:11 pm
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POSITIVE IMPACT
Journey Medical's positive Phase 1 trial data for DFD-29 indicates safe usage for up to 16 weeks, boosting DERM shares by 8.98%.
The positive Phase 1 trial data for DFD-29, a treatment for papulopustular rosacea, indicates that the treatment can be safely used for up to 16 weeks. This positive news has led to an increase in DERM's share price by 8.98%, showing a direct impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Dr. Reddy's Laboratories collaborated with Journey Medical on the development of DFD-29, which showed positive Phase 1 trial results.
Dr. Reddy's Laboratories collaborated with Journey Medical on the development of DFD-29, a treatment for papulopustular rosacea. The positive Phase 1 trial results indicate that the treatment can be safely used for up to 16 weeks, which may have a positive impact on RDY's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80