Journey Medical Corp. [DERM] - Last Close: $3.39
Journey Medical is rallying on news of important clinical progress.
The commercial-stage pharma firm announced on Tuesday that it had completed over 50% enrollment for a key drug trial.
Journey has enrolled and randomized over half the necessary patients for a pivotal Phase 3 study of DFD-29 as a treatment for a skin condition called papulopustular rosacea.
The program consists of two clinical trials to evaluate the safety, efficacy and tolerability of DFD-29, or Minocycline modified release capsules. The combined enrollment target is 640 adults with moderate to severe papulopustular rosacea, the company said.
Journey says we can expect top-line clinical data to be available by the first half of 2023.
DERM is one of today's top movers with a 34.3% premarket gain.
My Take: Seems like the market is betting DERM's upcoming Phase 3 trials will go off without a hitch. It wasn't too long ago that this stock traded for close to $10, so there could be some decent upside if they're right.
Guardforce AI [GFAI] - Last Close: $0.3639
A new hire is giving shares of Guardforce AI a boost ahead of today's open.
The cybersecurity stock announced yesterday morning that it had made some key executive moves at the C-suite level.
Guardforce said Wednesday that it has appointed CEO Lei Wang to serve as the chairman of the board in addition to her current role as chief executive.
The firm also announced that it had appointed a new chief financial officer after the previous one stepped down to "pursue other interests." Yu-Heng Ma will take the wheel as CFO in the wake of his departure.
Guardforce also named Mingchang Liu as its chief technology officer, promoting him from his previous position as manager of Guardforce AI's technical development division.
News of the C-suite shakeup is powering GFAI to a 13.5% gain on active trading volume.
My Take: Most veteran Wall Street watchers will tell you a C-suite shakeup like this isn't usually a good sign for the company's long-term trajectory. This is a volatile, risky stock, so play it cautiously.
