Core Viewpoint - VYNE Therapeutics Inc. is advancing its clinical-stage biopharmaceutical development, particularly focusing on repibresib for vitiligo and addressing a clinical hold on VYN202 for psoriasis treatment [2][3]. Financial Results - As of March 31, 2025, VYNE reported cash, cash equivalents, and marketable securities totaling $50.3 million, sufficient to fund operations into the second half of 2026 [4]. - Revenues for the first quarter of 2025 were $0.2 million, an increase from $0.1 million in the same quarter of 2024, primarily from royalty revenue [8]. - Research and development expenses rose to $6.1 million in Q1 2025 from $3.7 million in Q1 2024, driven by increased costs associated with VYN202 and repibresib [9]. - General and administrative expenses decreased to approximately $3.3 million in Q1 2025 from $3.8 million in Q1 2024 [10]. - The net loss for Q1 2025 was $8.6 million, or $0.20 per share, compared to a net loss of $6.2 million, or $0.15 per share, in Q1 2024 [11]. Pipeline and Corporate Updates - The Phase 2b trial for repibresib gel in treating nonsegmental vitiligo is fully enrolled, with top-line results expected in mid-2025 [6][7]. - The Phase 1b trial for VYN202 has been placed on clinical hold due to observed testicular toxicity in non-clinical studies, with VYNE working with the FDA to resolve this issue [3][4]. - The ongoing Phase 2b trial of repibresib gel is not affected by the clinical hold on VYN202, as repibresib is a distinct compound [7].