VYNE Therapeutics (VYNE) - 2024 Q4 - Annual Results

Financial Position - As of December 31, 2024, VYNE had a cash position of $61.5 million, sufficient to fund operations into the second half of 2026[8]. - Total assets decreased to $66.9 million in 2024 from $97.7 million in 2023[19]. - Total liabilities increased to $14.8 million in 2024 from $8.9 million in 2023[19]. - The company had 14,830,013 common shares issued and outstanding as of December 31, 2024[9]. Revenue Performance - Revenues for the year ended December 31, 2024, totaled $0.5 million, a 25% increase from $0.4 million in 2023, primarily from royalty revenue[9]. - Total revenues for the year ended December 31, 2024, reached $501 million, compared to $424 million in 2023, marking a 18.1% growth[21]. - Royalty revenues for Q4 2024 were $84 million, up from $76 million in Q4 2023, representing a 10.5% increase[21]. Expenses - Research and development expenses increased to $30.9 million in 2024, up 89% from $16.3 million in 2023, driven by costs associated with repibresib and VYN202[9]. - General and administrative expenses slightly decreased to approximately $13.2 million in 2024 from $13.4 million in 2023[10]. - Total operating expenses for the year increased to $44.138 million from $29.682 million, a rise of 48.8%[21]. - Research and development expenses surged to $9.684 million in Q4 2024, compared to $3.023 million in Q4 2023, reflecting a 220.5% increase[21]. Net Loss - The net loss for the year ended December 31, 2024, was $39.8 million, with a net loss per share of $0.93, compared to a net loss of $28.5 million and a net loss per share of $2.78 in 2023[11]. - Net loss for the year ended December 31, 2024, was $39.834 million, up from $28.452 million in 2023, representing a 40.1% increase[21]. - The operating loss for Q4 2024 was $12.770 million, compared to a loss of $6.832 million in Q4 2023, indicating an increase in losses of 87.5%[21]. - Loss per share from continuing operations for Q4 2024 was $0.28, compared to $0.20 in Q4 2023, reflecting a 40% increase in loss per share[21]. Future Expectations - VYNE expects topline results from the Phase 2b trial of repibresib gel in nonsegmental vitiligo in mid-2025[5]. - The Phase 1b trial of VYN202 for moderate-to-severe plaque psoriasis has been initiated, with topline results anticipated by the end of 2025[5].