Asset MonetizationSale of the U.S. Xepi license and monetization of a non-core asset improves cash position and redirects management focus to core priorities, strengthening the balance sheet.
Clinical Trial DataData readouts from the Phase 3 extremities trial and the Phase 2b acne trial early in 2026 may validate clinical benefit and support a re-rating of the stock.
Regulatory ProgressA potential supplemental NDA submission for the extremities indication in mid-2026 provides a clear regulatory pathway that could broaden approved uses and increase market opportunity.