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The product against acne Cassiopea, the spin-off of Cosmo Pharmaceutical, has reached a milestone before being approved. This also benefits the sick mother
The share price of the biotechnology company Cassiopea climbed more than 75% Tuesday. The young company was able to report a first major development success: studies on the application of Winlevi acne have yielded statistically significant improvements for all clinical parameters. Thus, the goal, the approval of the market, much closer. The company is expected to submit the application to the US Food and Drug Administration by the end of the year. There is a strong demand for remedies for acne. There has not been a new approach to treating skin diseases in the United States for decades. In addition, Winlevi is the first product against acne that is not taken, but applied directly to the skin. In addition, it is free of hormonal side effects. Analysts estimate the product will generate annual peak sales of $ 330 to $ 480 million.
The company was separated in 2015 from Cosmo Pharmaceutical. The former mother continues to hold just under 50% of the cassiopea specialty for dermatology applications and therefore benefits from success. Cosmo shares rose 4.5% on Tuesday. The history of success is practical: Cosmo is under pressure. In mid-May, the US Department of Health announced that it could not approve the application for Cosmo's core product as it is.
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