Ann: Botanix Announces Successful Acne Study Results, page-40

Correct, but the market can expect an update during the course of the study as it was the case in December for BTX1503, not the definitive data but rather an appetizer which, though preliminary, shouldn't disappoint either as the company as previously indicated that data from BTX1204 suggest a superior efficiency than Crisaborole (developed by Anacor Pharmaceuticals Inc which was then acquired by Pfizer for US$5.2 billion in May 2016):


"BTX 1204 is targeting the prescription atopic dermatitis market that currently generates more than US$3.8 billion in annual sales. Supporting scientific data suggests that BTX 1204 potentially has a broader mechanism of action than Crisaborole®, as it may inhibit the proliferation of skin cells and inhibit immune responses, in addition to addressing inflammation. Following completion of this study, Botanix plans to file an Investigational New Drug (IND) application with the United States Food and Drug Administration (FDA) allowing a multicentre Phase 2 safety and efficacy study for BTX 1204 to commence in the US in 2H CY2018."
(my emphasis)

So, yes the definitive announcement may not come for another 2 or 3 months but, as per BTX1503, a positive update may be expected and another gradual sp accretion too: can't have enough of those.