Why Are VYNE Therapeutics Shares Trading Higher Today?

VYNE Therapeutics Inc (NASDAQ:VYNE) announced new preclinical data showing the effect of its novel pan-BET inhibitor, VYN201, in a preclinical model of idiopathic pulmonary fibrosis (IPF).
VYN201 at 0.5 mg/ml and 1 mg/ml demonstrated statistically significant reductions in Ashcroft scores (a measurement of lung fibrosis) and levels of the tissue fibrosis biomarker compared to the placebo control group.
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Mean control-adjusted lung fibrosis scores for VYN201 1 mg/ml were 65.8% lower than the placebo control group.
VYN201 demonstrated a dose-dependent improvement in blood oxygen saturation.
The mean blood oxygen saturation for the VYN201 1 mg/ml group was 92.4%, an 8.8% improvement compared to the placebo group (83.6%). The mean blood oxygen saturation for the untreated and unstimulated control group was 95.2%.
Treatment with VYN201 1 mg/ml resulted in a 51.8% mean improvement in functional lung volume compared to animals receiving placebo treatment.
Price Action: VYNE shares are up 48.2% at $4.64 on the last check Wednesday.