Dermira (DERM) Hits New High; More Than Doubled In A Month

(RTTNews) - Shares of Dermira, Inc. (DERM) hit a new high of $19.30 on Wednesday's trading before closing at $17.56. The stock is up nearly 140% year-to-date.

Dermira is a revenue-generating biopharmaceutical company that develops medicines for dermatological diseases.

The company's marketed product QBREXZA Cloth for the topical treatment of primary axillary hyperhidrosis or excessive underarm sweating was launched in October 2018.

In the third quarter ended September 30, 2019, Dermira had product sales of $10.23 million. For the full-year, product sales are expected in the low-$30 million range. The company sees peak sales of $500 million - $600 million for QBREXZA in 6-7 years from launch.

Lead product candidate, Lebrikizumab for the treatment of atopic dermatitis is in phase III study. Atopic dermatitis or eczema is a chronic skin condition characterized by dry itchy skin.

The phase III study includes two monotherapy trials involving about 800 patients of age 12 years and older at approximately 200 sites in the U.S., Europe, and Asia. Topline results from the 16-week induction period of these two studies are expected in the first half of 2021.

Lebrikizumab is a monoclonal antibody designed to bind interleukin-13 (IL-13) protein with very high affinity, specifically preventing the formation of the IL-13Ra1/IL-4Ra heterodimer complex and subsequent signaling, thereby inhibiting the biological effects of IL-13 in a targeted and efficient fashion.

In November last year, new scientific findings highlighting the role of IL-13 in amplifying itch and the role lebrikizumab plays in reducing itch were presented at the 10th World Congress on Itch in Sydney, Australia.

The atopic dermatitis therapy market is expected to be more than $21 billion by 2027. Sanofi and Regeneron Pharmaceuticals' Dupixent (dupilumab), approved in 2017 is the only approved therapy for atopic dermatitis.

Cash and investments as of September 30, 2019, were $360.16 million.