SkinBioTherapeutics said it had noted the recent drop in the share price said it is not aware of any material commercial or operational reason that might be the cause.
“The company's position on sales of its first commercial product AxisBiotix-Ps was outlined in the interim results dated 29 March 2022,” it said.
Management then acknowledged slower uptake of the psoriasis treatment than originally anticipated, and that it was not possible to predict the quantum impact on sales.
In today’s statement, it said: “The team continues to focus on driving sales of AxisBiotix-Ps.
“The marketing and advertising campaign is now very active, using influencers who have psoriasis themselves for the digital campaign and advertising in regional and national newspapers such as the Mail, Telegraph and Metro.
“The product continues to receive very positive customer feedback and the subscriber retention rate is now more than 80%.
“Other pillars of the business, including work with Croda/Sederma are progressing accordingly to plan.”
Shares today were down 20% at 17.35p.