BioPharmX Corp fka BPMX

[Whos_Who]

BioPharmX Reports First Quarter 2017 Financial Results

MENLO PARK, Calif., June 13, 2017 - BioPharmX Corporation (NYSE MKT: BPMX), a specialty pharmaceutical company focusing on dermatology, today announced its financial results for the first quarter ended April 30, 2017 and discussed the progress of its clinical research.

“The start of our year has been defined by steady achievement in clinical research, growing dermatology community interest in BPX-01, our investigational topical drug for acne, and careful management of resources,” said President Anja Krammer. “The enthusiasm investigators expressed about our phase 2b trial results confirms our excitement about BPX-01 as we finalize plans for phase 3 research.”

BioPharmX presented comprehensive phase 2b clinical data during a recent “State of Acne” symposium, showing BPX-01 2% achieved its primary endpoint. The data showed it reduced the number of inflammatory lesions in acne patients by 59% (versus 44% in vehicle) with no serious drug-related adverse side effects experienced, and suggested it may also lessen the severity of lesions. The company expects the phase 3 program to begin later this year and is exploring a variety of funding alternatives, including both dilutive and non-dilutive financing options and strategic partnerships.

First Quarter Financial Results
Total operating expenses for the first quarter of 2018 were $5.0 million, compared with total operating expenses of $4.5 million in the prior fiscal year’s first quarter. The increase resulted primarily from higher spending for the company's acne drug clinical trials, offset by lower spending on advertising and promotions related to the company’s Violet product.

Net loss for the first quarter of 2018 was $5.4 million, or $0.08 per share, compared with a net loss of $4.5 million, or $0.17 per share, during the prior fiscal year’s first quarter.

Excluding stock-based compensation expense, the impact of changes in the fair value of the warrant liability and amortization of purchased intangible assets, non-GAAP net loss for the first quarter of 2018 was $4.6 million, or $0.07 per share. During the first quarter of the prior year, the comparable non-GAAP net loss was $4.2 million, or $0.16 per share.

Cash and cash equivalents as of April 30, 2017 were $6.7 million.

Conference Call & Webcast
BioPharmX will host a conference call at 4:30 p.m. Eastern Time on Tuesday, June 13, 2017, to discuss its first quarter financial results. A live webcast of the conference call will be available online on the Investors page of BioPharmX corporate website at http://biopharmx.investorroom.com/events. You may also access this call through an operator by dialing [phone] for domestic callers, or [phone] for international callers, and requesting to join the BioPharmX Corporation call.

A replay of the call will be available through midnight Eastern Time on Jul. 13, 2017. The replay dial-in numbers are [phone] for domestic callers and [phone] for international callers; reference Conference ID: 10108734. The webcast also will be available on the BioPharmX website for 90 days following completion of the call.