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Press Release: Sienna Biopharmaceuticals Reports Fourth Quarter and Full Year 2018 Financial Results


WESTLAKE VILLAGE, Calif., March 14, 2019 (GLOBE NEWSWIRE) -- Sienna Biopharmaceuticals, Inc. (Nasdaq:SNNA), a clinical-stage biopharmaceutical company, today reported the Company’s financial results for the fourth quarter and full year of 2018.
“We are pleased to report the results of our 2018 fourth quarter and full year and contemplate the possibilities in 2019, particularly in light of our streamlined focus on strategic priorities and successful equity raise,” said Frederick C. Beddingfield III, M.D., Ph.D., President and Chief Executive Officer of Sienna. “Our drive to bring unconventional scientific innovations to patients whose lives remain burdened by their disease without compromising safety has unlocked a pipeline of selective kinase inhibitors that target select pathways in specific tissues to treat a variety of chronic inflammatory and immunologic conditions with minimal to no systemic exposure. We are poised to begin Phase 3 enrollment for SNA-120 (pegcantratinib) later this year as a potential first-in-class, non-steroidal treatment for psoriasis and the associated pruritus. Additionally, we continue to see potential in SNA-125, our tissue-targeted JAK3/TrkA dual kinase inhibitor, for other inflammatory disorders of the skin, as well the gastrointestinal tract, the eye and the lung. Indeed, with additional funding through a business-development transaction or other means, we would plan to move SNA-125 forward with a Phase 2 trial in atopic dermatitis, as well as with a proof-of-concept study in ulcerative colitis, where the need for gut-restricted drugs with low systemic exposure is high. We are actively seeking a strategic partner for SNA-001, with positive results now in hand that provide a potential path to regulatory clearance. Our future is bright, and we look forward to translating our scientific aptitude and curiosity into new possibilities and positivity for patients who continue to suffer from autoimmune and inflammatory disorders across multiple therapeutic areas.”Business HighlightsIn February 2019, Sienna closed a follow-on public offering of 9,200,000 shares of common stock at a public offering price of $2.50 per share, which included the exercise in full by the underwriters of their option to purchase up to an additional 1,200,000 shares of common stock. Net proceeds to the Company were approximately $21.3 million, after underwriting discounts, commissions and estimated offering exp...


Posted: 2019-03-14 13:05:00

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