Therapeutics Receives FDA Approval of ZILXI (minocycline) topical foam, 1.5%, the First Topical Minocycline Treatment for

Therapeutics Receives FDA Approval of ZILXI (minocycline) topical foam, 1.5%, the First Topical Minocycline Treatment for

ZILXI Now Approved for Inflammatory

Lesions of Rosacea in Adults

BRIDGEWATER, N.J., May 29, 2020 - Menlo Therapeutics Inc.

(Nasdaq: MNLO) ("Menlo" or the "Company"), a specialty pharmaceutical company focused on developing and

commercializing proprietary therapies to address unmet needs in dermatology, today announced that the U.S. Food and Drug Administration

(FDA) has approved ZILXI (minocycline) topical foam, 1.5%, for the treatment of inflammatory lesions of rosacea in adults.

ZILXI, developed as FMX103 by Menlo's wholly-owned subsidiary Foamix Pharmaceuticals Ltd. ("Foamix"), is the

first minocycline product of any kind to be approved by the FDA for use in rosacea.

"This approval is welcome news for clinicians and patients

who seek novel options for this difficult to treat skin disorder," said David Domzalski, Chief Executive Officer of Menlo.

"ZILXI is a potential turning point in rosacea treatment, providing millions of people with a new treatment option that is

well-tolerated and effective."

Rosacea is a diverse skin condition that most commonly presents

with symptoms such as deep facial redness, spider veins (telangiectasia) and acne-like inflammatory lesions (papules and pustules).

Minocycline is one of several broad-spectrum antibiotics known

as tetracyclines with anti-inflammatory properties; their use in some patients is limited due to systemic side effects when taken

orally. In ZILXI, Menlo has once more leveraged its proprietary Molecule Stabilizing Technology (MST ) platform to effectively

deliver minocycline in a foam-based vehicle.

"This is the only product containing minocycline approved

by the FDA for rosacea," said Iain Stuart, PhD, Chief Scientific Officer of Menlo. "The availability of a novel topical

formulation of this molecule underscores our efforts to provide innovative treatment options for patients who suffer from difficult

to treat skin conditions."

The FDA approval of ZILXI is primarily supported by data from

two clinical trials in 1,522 patients 18 years of age and older. In each 12-week multicenter, randomized, double-blind, vehicle-controlled

trial, subjects with inflammatory lesions of rosacea were treated once daily with ZILXI or vehicle. No other topical or systemic

medication affecting the course of inflammatory lesions of rosacea was permitted for use during these trials. The co-primary efficacy

endpoints were (a) the absolute change from baseline in inflammatory lesion counts at Week 12 and (b) the proportion of subjects

with treatment success at Week 12 defined as an IGA score of 0 ("clear") or 1 ("almost clear"), and at

least a two-grade improvement (decrease) from baseline at Week 12. ZILXI met both co-primary endpoints in each clinical trial,

demonstrating statistically significant improvements in inflammatory lesion count and Investigator Global Assessment (IGA) treatment

success. No treatment-related serious adverse events were reported. The most common adverse reaction reported by 1% of subjects

treated with ZILXI and more frequently than in subjects treated with vehicle was diarrhea (1% vs. 0%), respectively.

Menlo anticipates having ZILXI available for prescribing by

4th quarter of this year.

INDICATIONS AND USAGE

ZILXI (minocycline) topical foam, 1.5%

is a topical form of the antibiotic minocycline for the treatment of adults with pimples and bumps

caused by a condition called rosacea. ZILXI is available by prescription only.

ZILXI should not be used for the treatment

of infections. It is not known if ZILXI is safe and effective in children. ZILXI is for use on skin only (topical use). ZILXI

is not for use in the mouth, eyes or vagina.

Important Safety Information

ZILXI is a topical foam that contains minocycline, a tetracycline

medicine. It is not taken by mouth. However, tetracyclines, when taken by mouth (capsules or tablets), may cause serious

side effects, including: diarrhea, including watery or bloody stools; loss of appetite; tiredness; yellowing of the skin or eyes;

bleeding more easily than normal; confusion; sleepiness; vision changes, including blurred vision, double vision, or permanent

vision loss; unusual headaches; fever; rash; joint pain; body weakness; discoloration or darkening of the skin, scars, teeth, or

gums. People should call their doctor right away if these side effects occur.

The most common side effect of ZILXI is diarrhea.

These are not all of the possible side effects with ZILXI. People

should contact their doctor for medical advice about side effects and be sure to tell their doctor about all of their medical conditions

and medicines they take before using ZILXI.

People are encouraged to report negative side effects of

prescription drugs to the FDA. Visit www.fda.gov/medwatch or call 1-800-FDA-1088.

Please see full Prescribing Information.

Rosacea is a diverse skin condition that most commonly presents

with symptoms such as deep facial redness, spider veins (telangiectasia) and acne-like inflammatory lesions (papules and pustules).

It can create psychosocial burdens, such as embarrassment, anxiety and low self-esteem that can adversely affect quality of life2.

Rosacea is most frequently seen in adults between 30 and 50 years of age. It affects more than 16 million people in the United

States; up to 28% of these sufferers have rosacea with inflammatory lesions3.

About Menlo Therapeutics

Menlo Therapeutics Inc. recently combined with Foamix Pharmaceuticals

Ltd. ("Foamix") to form a specialty pharmaceutical company working to solve some of today's most difficult therapeutic

challenges in dermatology and beyond. Foamix is now a wholly-owned subsidiary of Menlo.

With expertise in topical medicine innovation as a springboard,

the Company is working to develop and commercialize a variety of solutions using its proprietary Molecule Stabilizing Technology

(MST ), and has received FDA approval for the world's first topical minocycline, AMZEEQ (minocycline) topical

foam, 4%, and now ZILXI (minocycline) topical foam, 1.5%

For more information about Menlo or its investigational products,

visit www.menlotherapeutics.com. Menlo may use its website to comply with its disclosure obligations under Regulation FD. Therefore,

investors should monitor Menlo's website in addition to following its press releases, filings with the U.S. Securities and

Exchange Commission, public conference calls, and webcasts.

Cautionary Statement Regarding Forward-Looking Statements

This release includes forward-looking statements within the

meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding expectations

with respect to the anticipated launch of ZILXI, Menlo's other products and product candidates and other statements regarding

the future expectations, plans and prospects of Menlo. All statements in this press release which are not historical facts are

forward-looking statements. Any forward-looking statements are based on Menlo's current knowledge and its present beliefs

and expectations regarding possible future events and are subject to risks, uncertainties and assumptions that could cause actual

results to differ materially and adversely from those set forth or implied by such forward-looking statements. These risks and

uncertainties include, but are not limited to any adverse effects on our business related to the global COVID-19 pandemic,; adverse

events associated with the commercialization of ZILXI; the outcome of pricing, coverage and reimbursement negotiations with third

party payors for ZILXI or any other products or product candidates that Menlo may commercialize in the future; whether, and to

what extent, third party payors impose additional requirements before approving ZILXI prescription reimbursement; the eligible

patient base and commercial potential of ZILXI or any of Menlo's other product or product candidates; risks that Menlo's

intellectual property rights, such as patents, may fail to provide adequate protection, may be challenged and one or more claims

may be revoked or interpreted narrowly or will not be infringed; risks that any of Menlo's patents may be held to be narrowed,

invalid or unenforceable or one or more of Menlo's patent applications may not be granted and potential competitors may also

seek to design around Menlo's granted patents or patent applications; additional competition in the rosacea and dermatology

markets; inability to raise additional capital on favorable terms or at all; Menlo's ability to recruit and retain key employees;

and Menlo's ability to stay in compliance with applicable laws, rules and regulations. For a discussion of other risks and

uncertainties, and other important factors, any of which could cause Menlo's actual results to differ from those contained

in the forward-looking statements, see the sections titled "Risk Factors" in (i) Menlo's most recent annual report

on Form 10-K, (ii) Foamix's most recent annual report on Form 10-K and (iii) Menlo's definitive joint proxy statement/prospectus

filed with the U.S. Securities and Exchange Commission under Rule 424(b)(3) on January 7, 2020, as well as discussions of potential

risks, uncertainties, and other important factors in Menlo's subsequent filings with the U.S. Securities and Exchange Commission.

Although Menlo believes these forward-looking statements are reasonable, they speak only as of the date of this announcement and

Menlo undertakes no obligation to update publicly such forward-looking statements to reflect subsequent events or circumstances,

except as otherwise required by law. Given these risks and uncertainties, you should not rely upon forward-looking statements as