In Brief: Penederm
This article was originally published in The Rose Sheet
Executive Summary
Penederm: Foster City, CA-based firm posts third quarter revenues of $802,000, down 24.1% from the same period a year ago. The company reported a net loss of $1.7 mil. compared to a 1994 third quarter loss of $1.3 mil. According to the firm, the loss "reflect[s] expenses associated with two large human clinical trials...designed to strengthen marketing claims" for the firm's retinoic acid acne products and its KP363 antifungal cream treatments. Penederm has been addressing outstanding clinical issues concerning the retinoic acid products since receiving an "unapprovable" letter for its NDAs from FDA this spring ("The Rose Sheet" Aug. 28, In Brief). During the third quarter, the firm filed marketing approval applications for the acne products in the European Union...