Wednesday, July 31, 2019 9:21:51 PM
Foamix Pharmaceuticals Ltd . is a clinical-stage pharmaceutical company. The Company is engaged in the development and commercialization of foam-based formulations, using its technology, which includes its foam platforms. It is focused on developing and commercializing its minocycline foam for the treatment of acne, rosacea and other skin conditions. Its product candidates include FMX101, FMX102, FMX103 and FDX104. Its lead product candidate, FMX101, is a topical foam formulation of the antibiotic minocycline for the treatment of moderate-to-severe acne. FMX102 is a formulation of its minocycline foam being developed for the treatment of impetigo. FMX103 is a topical foam formulation of minocycline for the treatment of moderate-to-severe Papulopustular rosacea. FDX104 is a topical foam formulation of the antibiotic doxycycline for the treatment of severe acne-like rashes induced by chemotherapy. It has conducted one Phase II clinical trial for each of FMX101, FMX102, FMX103 and FDX104.
Foamix Pharmaceuticals Ltd . ( FOMX ), (“Foamix”), a clinical stage specialty pharmaceutical company focused on developing and commercializing proprietary topical therapies to address unmet needs in dermatology, today announced that it has secured up to $64 million in financing from Perceptive Advisors and OrbiMed. The financing consists of term loans of up to $50 million under a Credit Agreement, with $15 million provided immediately upon satisfaction of certain closing conditions, $20 million available upon the achievement of certain regulatory milestones and $15 million available upon the achievement of certain revenue milestones. Additionally, the Company will receive $14 million in gross proceeds from Perceptive Advisors through a direct registered offering of the Company’s ordinary shares. Proceeds from the transactions are expected to be used to fund the Company’s filing of a New Drug Application (“NDA”) with the FDA for FMX103 for the treatment of papulopustular rosacea as well as, assuming FDA approval is received, the anticipated product launches of FMX101 for the treatment of moderate to severe acne and FMX103, as well as for working capital and general corporate purposes. The FDA has established October 20th, 2019 as the Prescription Drug User Fee Act (PDUFA) action date for FMX101, and Foamix is in the final stages of preparation for the NDA submission for FMX103. (Source https://finance.yahoo.com/news/foamix-an...)
SHORT INTEREST
2.11M 07/15/19
Average Recommendation: BUY
Average Target Price: 15.60
P/E Current
-1.26
P/E Ratio (with extraordinary items)
-1.84
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