Sienna Biopharmaceuticals

The company's business model was centered on its proprietary "Topical by Design" platform, which created new chemical entities designed to deliver high concentrations of a drug to the target skin tissue with minimal systemic absorption. This approach was intended to reduce the tolerability issues often associated with systemic therapies. Sienna's product pipeline included several candidates. Its lead product was SNA-120 (pegcantratinib), a topical TrkA inhibitor for treating psoriasis and associated itching (pruritus). Another key candidate was SNA-125, a JAK3/TrkA inhibitor for atopic dermatitis and psoriasis. The portfolio also featured SNA-001, a topical suspension of silver particles for acne and the reduction of light-pigmented hair. The company was a pre-revenue, clinical-stage entity, relying on investment capital to fund its extensive research and development efforts.

Sienna Biopharmaceuticals achieved several milestones, including raising approximately $46 million in Series A financing by mid-2016 from investors like ARCH Venture Partners and Partner Fund Management. This was followed by an Initial Public Offering (IPO) on July 27, 2017, pricing at $15.00 per share on the NASDAQ under the ticker SNNA. The company progressed its lead candidate, SNA-120, through Phase 2b clinical trials, which showed a statistically significant impact on psoriasis. Following positive End-of-Phase 2 meetings with the FDA, the company planned to initiate Phase 3 trials in the latter half of 2019. However, after failing to secure a buyer or receive bids for the company as a whole, Sienna Biopharmaceuticals filed for Chapter 11 bankruptcy in September 2019. The filing was later converted to a Chapter 7 liquidation in December 2019, leading to the cessation of operations.