VYNE Therapeutics Inc. (VYNE) Gets Buy Reaffirmation on Pipeline Progress

VYNE Therapeutics Inc. (NASDAQ:VYNE) is among the fundamentally strong penny stocks to invest in. Analysts at H.C. Wainwright have reaffirmed their Buy rating on VYNE Therapeutics Inc. (NASDAQ:VYNE), with a price target of $4.50, implying an upside of nearly 215%. This optimism follows the company’s advancement of its VYN202 program for moderate-to-severe plaque psoriasis.

Just recently, the company’s Phase 1b trial was put on hold by the FDA due to testicular toxicity outcomes in dogs during non-clinical studies. The study, however, has been permitted to proceed in female patients at the 0.25 mg and 0.5 mg dosing levels. Since a higher 1 mg dose was excluded because of its narrower safety margin, VYNE Therapeutics Inc. (NASDAQ:VYNE) must first complete a 12-week non-clinical toxicology study in dogs before resuming male enrollment.

What provides the company financial stability at this crucial development stage is its high current ratio and low debt. After the study’s status update, VYNE Therapeutics Inc. (NASDAQ:VYNE) unblinded data from the enrolled participants, showing no serious side effects and no treatment discontinuations associated with the adverse cases.

VYNE Therapeutics Inc. (NASDAQ:VYNE), based in New Jersey, is a clinical-stage biopharmaceutical company that engages in the development of therapies to address chronic inflammatory and immune-mediated conditions. Founded in 2020, the company is committed to improving the immune system and inflammation.

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