Why Are Journey Medical Shares Trading Lower Today?
Portfolio Pulse from Vandana Singh
Journey Medical Corporation's shares are trading lower after the company announced topline results from two Phase 3 trials of DFD-29 for adult patients with moderate-to-severe papulopustular rosacea. The trials achieved the co-primary and all secondary endpoints with no significant safety issues. DFD-29 is being developed in collaboration with Dr. Reddy's Laboratories Ltd.
July 11, 2023 | 4:53 pm
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NEUTRAL IMPACT
Dr. Reddy's Laboratories is collaborating with Journey Medical on the development of DFD-29.
As a collaborator on the DFD-29 development, the news could have an impact on Dr. Reddy's Laboratories, but the extent of the impact is unclear.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Journey Medical's stock price is trading lower after the announcement of successful Phase 3 trials of DFD-29.
Despite the successful trials, the market may have expected more from the results, leading to a drop in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100