The Company's lead product candidate, SL017 Topical
Gel, is currently undergoing two independent Phase I clinical trials, one for
Actinic Keratosis (AK) at the University of Alberta Dermatological Centre and
the second for acne and cosmetic hair removal at Innovaderm in Montréal.
The AK trial has so far recruited eight of the required twelve patients. Preliminary
analysis indicates that the drug and the treatment are well tolerated with no
adverse events. Therapeutic efficacies of SL017 for AK indication are awaiting
the biopsy results from the treated area. These results are anticipated by the
end of this quarter.