An interesting development given the upcoming Phase 1b Psoriasis...

An interesting development given the upcoming Phase 1b Psoriasis results which are due shortly, particularly as this Phase 1b test (and its results) will be significantly different  than those for acne or AD (i.e. this time around it's Placebo vs Active Ingredient vs Active Control - a more robust testing process).

My understanding is that commercial partners are/will be very interested in the outcome of this trial, due significantly to this robustness. 

This ties in with the positioning of Michael Thurn in this space, which indicates more corporate activity focus, rather than product development (as Jalaluddin has mentioned).