Welcome to our dedicated page for Strata Skin Sciences news (Ticker: SSKN), a resource for investors and traders seeking the latest updates and insights on Strata Skin Sciences stock.
STRATA Skin Sciences, Inc. (NASDAQ: SSKN) is a leading medical technology company dedicated to developing, commercializing, and marketing innovative products for treating dermatologic conditions. With a focus on providing hope and assistance to dermatology patients, STRATA has introduced a range of cutting-edge products designed to improve patient outcomes and experiences.
The company's primary offerings include the XTRAC® excimer laser and VTRAC® lamp systems, which are widely utilized for the treatment of psoriasis, vitiligo, and other skin conditions. Recently, STRATA has expanded into the acne treatment market with the successful launch of the TheraClear®X Acne Therapy System. This system adds to their robust portfolio and addresses a significant market need, showcasing the company's commitment to innovation.
STRATA operates in two main segments: Dermatology Recurring Procedures and Dermatology Procedures Equipment. The Dermatology Recurring Procedures segment is the key revenue driver, generating income from the use of its equipment by dermatologists to perform XTRAC procedures. Conversely, the Dermatology Procedures Equipment segment derives revenue from the sale of equipment, such as lasers and lamp products.
In 2023, STRATA saw significant strategic growth, product innovation, and market expansion under the leadership of Dr. Dolev Rafaeli, Vice-Chairman, President, and CEO. The company reported $33.4 million in revenues for the full year, despite a challenging market environment. STRATA's recurring revenues and equipment sales were vital contributors to this performance.
Geographically, a majority of STRATA's revenue is derived from the United States, with significant contributions from international markets, particularly through long-standing exclusive distribution agreements in countries like China, Japan, and South Korea. These agreements highlight the global impact and reach of STRATA's innovative dermatological solutions.
STRATA's unique Partnership Program offers a compelling value proposition for dermatology clinics. This program includes a fee per treatment cost structure, installation and maintenance of the device, on-site training for personnel, and comprehensive customer support, ensuring that clinics can deliver the best possible care to their patients.
Looking ahead, STRATA aims to further drive utilization and placements of its XTRAC® and TheraClear®X systems, explore new geographic opportunities, and enhance patient-focused marketing to increase awareness and adoption of their treatments. STRATA is committed to improving the operating results and delivering value to shareholders, all while making a positive impact on dermatology patients worldwide.
Latest News:
- STRATA to host a conference call and webcast today, March 27, 2024, at 4:30 PM ET.
- Fourth Quarter and Full-Year 2023 revealed pivotal growth and product innovation despite a net loss of $3.8 million in Q4 2023.
- Exclusive distribution agreements maintained in China, Japan, and South Korea, contributing nearly a third of total revenue in 2023.
STRATA Skin Sciences (NASDAQ: SSKN) reported Q2 2024 financial results and provided a corporate update. Key highlights include:
- Revenue increased 2% YOY to $8.4 million
- Gross profit margin improved to 58.5% from 52.3% last year
- Operating expenses decreased 14% YOY to $5.4 million
- Net loss narrowed to $0.1 million ($0.03 per share) from $3.1 million ($0.90 per share) in Q2 2023
- Cash balance increased to $6.8 million
- Domestic XTRAC installed base decreased to 882 devices as the company optimizes its asset base
- TheraClear X installed base grew to 117 devices
- Completed a $2.1 million financing in July 2024
The company is focusing on DTC marketing and optimizing its device installed base to drive growth and profitability.
STRATA Skin Sciences (NASDAQ: SSKN), a medical technology company focused on dermatologic treatments, has announced its plans to report second quarter 2024 financial results on August 14, 2024, after market close. The company will host a conference call at 4:30 p.m. ET on the same day to discuss the results and provide a corporate update.
Interested parties can join the call by dialing 1-877-270-2148 (domestic) or 1-412-902-6510 (international). A live webcast will also be available. A telephonic replay will be accessible until August 21, 2024, and a webcast replay will be available until February 14, 2025.
STRATA Skin Sciences, Inc. (NASDAQ: SSKN), a medical technology company focused on dermatologic treatments, has announced its participation in the 9th Annual Virtual Needham MedTech & Diagnostics 1x1 Conference. The event is scheduled for August 12-13, 2024.
Key points:
- Dr. Dolev Rafaeli, President and CEO, and Christopher Lesovitz, CFO, will represent STRATA
- They will be available for one-on-one meetings on both conference days
- Investors can arrange meetings by contacting IR@strataskin.com
This participation demonstrates STRATA's commitment to engaging with investors and showcasing their innovative dermatologic products and technologies.
STRATA Skin Sciences (NASDAQ: SSKN) has successfully closed a $2.1 million registered direct offering of common stock. The company issued 665,136 shares at an average price of $3.16 per share. This offering was conducted under a previously filed and effective shelf registration statement. Notably, insiders and existing shareholders participated in the offering, which the company views as a sign of confidence in its strategic plan and execution abilities.
Dr. Dolev Rafaeli, STRATA's President and CEO, emphasized that this financing will extend the company's cash runway and demonstrates conviction in their path to profitability. STRATA Skin Sciences is a medical technology company focused on developing and marketing innovative products for dermatologic conditions.
STRATA Skin Sciences (NASDAQ: SSKN) has received approval for its XTRAC Momentum™ 1.0 device from Japan's Ministry of Health, Labor and Welfare. The device, initially launched in the U.S. in early 2022, will be commercially rolled out in Japan through JMEC Co., , STRATA's strategic partner and distributor. STRATA's excimer devices are currently used in over 300 Japanese hospitals and dermatology clinics.
The XTRAC Momentum™ 1.0 is STRATA's most advanced excimer laser, offering higher power and faster repetition rates than current models. It features a new user interface and slim design to enhance the treatment experience. The technology allows for precise delivery of targeted UVB light therapy for treating inflammatory skin conditions like psoriasis, eczema, and vitiligo in both adult and pediatric patients.
STRATA Skin Sciences (NASDAQ: SSKN) announces the publication of a clinical study on their TheraClear®X Acne Therapy System in the Journal of Cosmetic and Laser Therapy. The study, titled "Advancing precision acne therapy using a photopneumatic device," demonstrates the system's effectiveness in treating mild-moderate acne.
Key findings include:
- ≥50% clearance of acne lesions after three treatments
- Improvements in skin texture, redness, pore size, and oiliness
- Mild and transient side effects
- Comfortable treatment experience for patients
The FDA-cleared TheraClearX combines vacuum and pulsed broadband light to treat acne, offering a non-invasive, in-office alternative to traditional therapies. The study supports its use as both monotherapy and adjuvant treatment for acne patients.
STRATA Skin Sciences pre-announced its Q2 2024 financial results, estimating total revenue between $8.0 million and $8.4 million.
The company's domestic installed base of XTRAC® devices decreased from 907 to 881 units, while TheraClear®X devices saw growth, increasing from 104 to 117 units.
As of the end of Q2 2024, STRATA's cash, cash equivalents, and restricted cash totaled $6.8 million.
CEO Dr. Dolev Rafaeli highlighted strategic efforts in device deployment and direct-to-consumer activities to enhance patient awareness and clinic visits. Additionally, media coverage of the TheraClear®X device is expected to boost market awareness of their dermatology solutions.
Full financial results are expected to be reported on August 14, 2024.
STRATA Skin Sciences announces the availability of two webinars hosted by leading dermatologists, focusing on the benefits of its XTRAC® excimer laser and TheraClear®X photopneumatic device. The webinars aim to educate dermatologists on new treatment approaches for psoriasis, vitiligo, eczema, and mild to moderate acne. The XTRAC® webinar, led by Dr. Michael Nazareth, covers phototherapy treatment guidelines, device application, and reimbursement codes. The TheraClear®X webinar, hosted by Dr. Suneel Chilukuri, discusses acne treatment methods and showcases successful case histories. Dr. Dolev Rafaeli, CEO of STRATA, highlights the goal of enhancing awareness and utilization of STRATA's clinically proven devices, already backed by over 300 peer-reviewed studies.
STRATA Skin Sciences announced the publication of a clinical study in the Journal of Clinical and Aesthetic Dermatology on the TheraClear®X Acne Therapy System. Conducted by Dr. Glynis Ablon, the study found TheraClear®X to be a safe and effective noninvasive treatment for mild to moderate acne with high patient satisfaction. The device, which combines vacuum and pulsed broadband light, showed significant reduction in acne lesions and visible improvements after three treatments. It was well-tolerated with no adverse events, and 80% of participants were satisfied with the treatment. Additionally, 87% would recommend it to others. The study concluded that TheraClear®X is especially beneficial for patients who find other acne treatments ineffective or poorly tolerated.
STRATA Skin Sciences (NASDAQ: SSKN) will participate in two key dermatology conferences in June. The company showcased its XTRAC® and TheraClear®X devices at the Schweiger Symposium in New York City on June 1, and will participate in the Global Vitiligo Foundation Physician Education Summit in Indianapolis on June 21. At the Schweiger Symposium, STRATA engaged with dermatology providers, presenting the applications and advantages of its devices. The company has installed its devices in over 35 offices of the Schweiger Dermatology Group. The upcoming Summit will focus on vitiligo, where STRATA will demonstrate the efficacy of its XTRAC® device for treating this condition. STRATA's participation underscores its strategy to expand the use of its devices for conditions like vitiligo and eczema, beyond psoriasis.
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