Barrier Therapeutics (BTRX)

Barrier Therapeutics, Inc. is a biopharmaceutical company focused on the discovery, development, and commercialization of pharmaceutical products in the field of dermatology. The company currently markets three products in the U.S. Vusion (for diaper dermatitis complicated by candidiasis), Xolegel (for seborrheic dermatitis), and Solage (for solar lentigines or age spots). Barrier has four key product candidates progressing through its clinic in various stages of development:

Hyphanox, an oral formulation of itraconazole, is an antifungal agent that is being developed for the treatment of onychomycosis, commonly known as nail fungus. Hyphanox is currently in a phase III trial for the onychomycosis indication and positive results could allow the product to hit the market in 2010.

Hivenyl, an oral formulation of vapitidine hydrochloride, is being developed for the treatment of allergic reactions of the skin, such as those associated with hives and the itch associated with atopic dermatitis. Phase II results on the candidate showed that it significantly reduced itch symptoms in patients with chronic idiopathic urticaria. Hivenyl also reduced itch symptoms in patients with atopic dermatitis.

Rambazole is being developed for the treatment of psoriasis and severe acne. In July 2007, the company reported positive results from a phase IIb dose-finding of oral Rambazole in moderate to severe psoriasis. Rambazole is in a double-blind, placebo-controlled trial for acne - results should be available soon.

Pramiconazole (formerly Azoline) is being developed as an oral treatment for skin and mucosal fungal infections. In March 2007, Barrier reported positive results from a phase IIb dose-finding study in tinea versicolor. Pramiconazole is currently in a phase IIa study in onychomycosis (once-daily dosing). We recently saw encouraging interim results from this study top-line results should be out shortly.

Barrier Therapeutics was a former division of pharmaceutical giant, Johnson & Johnson (JNJ). The company's senior management consists of mostly all former J&J executives. Barrier has excellent intellectual property and expertise in the field of dermatology. The spin-off from JNJ occurred in 2001, and the company went public in May 2004. Johnson & Johnson has about a 20% stake in the company. Located in Princeton, NJ, Barrier Therapeutics employs roughly 130 people.

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