Strata Skin Sciences Inc - SSKN STOCK NEWS

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.

STRATA Skin Sciences reported a 11% decline in Q1 2024 revenue to $6.8 million from $7.6 million in Q1 2023. Global net recurring revenue also decreased by 10% to $4.7 million. Despite these declines, gross domestic recurring billings fell only 3%, showing signs of stabilization. Operating expenses decreased by 14% to $6.0 million, while the domestic installed base of XTRAC® devices decreased to 907 units. The company renewed agreements with exclusive distributors in China and Japan and amended its credit agreement with MidCap Financial Trust. The net loss increased to $3.4 million from $2.8 million in Q1 2023. Cash reserves stood at $6.6 million as of March 31, 2024.

STRATA Skin Sciences (NASDAQ: SSKN), a medical technology company, announced that its TheraClear®X devices surpassed 100 domestic installations by March 31, 2024. The company is expanding within existing XTRAC® partner clinics, including private equity-backed dermatology clinics like California Skin Institute and Aqua Dermatology. Pennsylvania Dermatology Partners, with 35 clinics, is also a strategic account. The Palo Alto Medical Foundation marked a comeback win. STRATA partnered with 48 private equity-backed dermatology groups, with a total of 2,482 locations, deploying 386 XTRAC® and 62 TheraClear®X devices. CEO Dr. Dolev Rafaeli emphasized the effectiveness of TheraClear®X in treating acne, combining vacuum and pulsed broadband light technology, offering a reimbursable treatment option for dermatologists.

STRATA Skin Sciences (NASDAQ: SSKN), a medical technology firm specializing in dermatologic treatments, will participate in the Benchmark Healthcare House Call Virtual 1x1 Investor Conference on May 21-22, 2024. The event will feature Dr. Dolev Rafaeli, CEO, and Christopher Lesovitz, CFO, who will be available for one-on-one meetings. Interested investors can register on Benchmark’s website or contact IR@strataskin.com to arrange a meeting. This participation aims to provide insights into the company's current activities and future plans.

STRATA Skin Sciences, Inc. will report its first quarter 2024 financial results on May 15, 2024, following the market close. The company specializes in developing and marketing products for dermatologic conditions. A conference call will be held to discuss financial results and corporate updates.

STRATA Skin Sciences, Inc. announces the placement of six XTRAC® devices with dermatology clinics in the first quarter of 2024 that are considered 'comebacks.' These placements represent clinics rejoining STRATA's partner program after previously terminating their relationship, showcasing the value proposition of the program. With a focus on expanding device utilization and regaining lapsed customers, STRATA aims to grow its average revenue per device through increased marketing activities.

STRATA Skin Sciences, Inc. announces a 1-for-10 reverse stock split effective June 6, 2024, to meet Nasdaq's bid price requirement. Shareholders approved the split, and the stock will trade under the symbol SSKN with a new CUSIP number. The split aims to maintain compliance and ensure a unified impact on all stockholders.

STRATA Skin Sciences, Inc. will have its President and CEO, Dr. Dolev Rafaeli, present a corporate overview at the Planet MicroCap Showcase: VEGAS 2024. The conference will take place from April 30 to May 2, 2024, at the Paris Hotel & Casino in Las Vegas, with Dr. Rafaeli's presentation scheduled for May 1, 2024, at 2:30 pm Pacific Time. Investors can also schedule one-on-one meetings with Dr. Rafaeli during the conference. Those unable to attend can access all company presentations on the conference event platform.