Dermira Inc. said Friday its treatment for excessive armpit sweating was approved by the U.S. Food and Drug Administration, providing patients with an easy-to-use option for an often embarrassing condition.

Shares of the company were up more than 17 percent before the bell.

The treatment, Qbrexza, is an anticholinergic agent, which comes in the form of a cloth that can be used once a day and works by blocking receptors responsible for sweat gland activation.

About 10 million people are affected with the condition, known as primary axillary hyperhidrosis, the company said. The condition can impede a person's normal daily activities.

Allergan's Botox injection is currently approved to treat these patients. Other treatments include antiperspirants and costlier alternatives such as laser therapy, as well as localized surgery like liposuction to remove sweat glands.

The company, which had cash and investments of about $496 million as of March 31, told Reuters that it had already identified dermatologists to launch the drug.

"We're a small company. We can't afford to - nor do we want to - go to a large prescribing audience," Chief Executive Officer Tom Wiggans told Reuters prior to the FDA's decision.