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Wednesday, November 25, 2020

Breakout Spotlight on Biopharmx Corp (NYSEAMERICAN:BPMX)

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Biopharmx Corp (NYSEAMERICAN:BPMX) has been on the move in a big way, exploding off a clear base of support on accelerating volume in a manner that clearly points to a key change in behavior. Traders are asking why, but there doesn’t seem to be any clear headline catalyst or SEC filing to explain the move in easy terms. Instead, we believe it’s important to look back at the company’s last major release and think through the situation with a fresh look.

On January 26, the company announced that “a revolutionary technique to measure how effectively a single dose of topically applied minocycline reached the epidermis and pilosebaceous unit of human facial skin may potentially explain early onset of efficacy observed in two investigational BioPharmX drugs.” This is important to understand in the context of the fact that BPX-01 is BioPharmX’s investigational product for the treatment of acne. According to its materials, “It has successfully completed its phase 2b studies. BPX-04 is the company’s investigational product for the treatment of rosacea. It will begin phase 2 studies soon. Both products share a novel delivery system to carry a minocycline gel to the target area in the skin.”

Biopharmx Corp (NYSEAMERICAN:BPMX) casts itself as a specialty pharmaceutical company, develops and commercializes novel prescription and over-the-counter (OTC) products that address dermatology and women’s health markets.

The company offers VI2OLET, an OTC molecular iodine dietary supplement that addresses cyclic breast discomfort and for the alleviation of symptoms of fibrocystic breast condition (FBC). Its clinical-stage product candidates include BPX03, a molecular iodine tablet, which is in pre-Phase III clinical trial for the treatment of periodic breast pain associated with FBC and cyclic mastalgia; and BPX01, a topical antibiotic gel that is in Phase IIb clinical trial for the treatment of acne vulgaris.

The company is also developing BPX02, an injectable product for aesthetic dermatology applications. It serves pharmaceutical companies; physician’s practices, including obstetricians and gynecologists, dermatologists, and general practitioners; and retail customers through retail sales channels and/or pharmacy outlets.

The company has collaboration and licensing agreement with Iogen LLC to develop molecular iodine formulations; and collaboration and supply agreement with NuTech Medical, Inc. to develop products in the field of dermatology. BioPharmX Corporation is headquartered in Menlo Park, California.

According to company materials, ” BioPharmX Corporation (NYSE American: BPMX) is a Silicon Valley-based specialty pharmaceutical company, which seeks to provide products through proprietary platform technologies for prescription, over-the-counter (OTC), and supplement applications in the health and wellness markets, including dermatology and women’s health.”

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As noted above, shares of the stock have been exploding higher in recent days on a technical breakout. This comes just a month after the company announced that it had developed a “revolutionary” technique to measure how effectively a single dose of topically applied minocycline reached the epidermis and pilosebaceous unit of human facial skin. This is in relation to its BPX-01 acne treatment.

One postulates that the recent action in the stock is potentially an insider run of shares as more information drawn from this measuring methodology begins to reveal data that the public will see before long. Alternatively, it could be a false signal. But we just saw over 100 million shares cross the tape in a single day on a big advance on no news. That’s difficult to pin to some kind of misdirection. This one deserves attention at the very least.

“This application of FLIM gives us the ability to assess the effectiveness of drug delivery systems, introducing a new way of carrying out pharmacokinetic studies.” said Conor L. Evans, PhD, an Assistant Professor at the Wellman Center for Photomedicine, Massachusetts General Hospital, Harvard Medical School. “This approach could significantly expand the utility of FLIM in the development of new drugs.”

At this time, carrying a capital value in the market of $28.6M, BPMX has a bankroll ($1.6M) of cash on the books, which compares with virtually no total current liabilities. BPMX is pulling in trailing 12-month revenues of $69K. However, the company is seeing declines on the top-line on a quarterly y/y basis, with revenues falling at -45.5%. You can bet we will update this one again as new information comes into view. Sign-up for continuing coverage on shares of $BPMX stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $BPMX, either long or short, and we have not been compensated for this article.

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