By Josh Beckerman

Shares of Journey Medical were up 21%, to $2.03, as it reported favorable topline Phase 1 study data for a papulopustular rosacea treatment it is developing in collaboration with Dr. Reddy's Laboratories.

Journey Medical said it is "very pleased" with the results for DFD-29, which indicate that it can be safely used for up to 16 weeks with no significant risk of microbiota suppression or development of resistance.

The company expects topline data from Phase 3 trials in June, with a New Drug Application filing expected in the second half of 2023.

Journey Medical was founded by Fortress Biotech.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

June 13, 2023 14:00 ET (18:00 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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