Sol-Gel Announces Positive Phase 3 Clinical Trial Results for TWYNEO
Sol-Gel Technologies (SLGL) announced on December 30 that the company has positive Phase 3 clinical trial results for Twyneo®. The investigational cream is a combination of tretinoin 0.1% and benzoyl peroxide 3% used for the treatment of acne vulgaris. The results showed statistically significant improvement on all co-primary endpoints and that the treatment was well tolerated by patients.
Jet Equities detected the event and alerted subscribers at 7:05 am. The last trade was at 4:00 pm on the previous day for $9.23. The next trade took place at 7:06 am for $10.50. The stock priced jumped 147% to above $26 within 30 minutes of the news announcement. Trading settled down later in the day, and Sol-Gel closed at $14.60 for a gain of 58% from the previous close.
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