STRATA Skin Sciences Announces Approval of XTRAC Momentum™ 1.0 Device in Japan
Rhea-AI Summary
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.
Positive
- Approval of XTRAC Momentum™ 1.0 device in Japan expands market reach
- Partnership with JMEC Co., for immediate commercial rollout in Japan
- STRATA's excimer devices already used in over 300 Japanese medical facilities
- XTRAC Momentum™ 1.0 offers higher power and faster repetition rates than current models
Negative
- None.
News Market Reaction – SSKN
On the day this news was published, SSKN declined 5.23%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
HORSHAM, Penn., July 22, 2024 (GLOBE NEWSWIRE) -- STRATA Skin Sciences, Inc. (“STRATA” or the “Company”) (NASDAQ: SSKN), a medical technology company dedicated to developing, commercializing, and marketing innovative products for the treatment of dermatologic conditions, announces the approval of its XTRAC Momentum™ 1.0 device by the Ministry of Health, Labor and Welfare of Japan. The Company initially launched the XTRAC Momentum™ in the U.S. in early 2022. The immediate commercial rollout of the device in Japan will be through JMEC Co., Ltd., the Company’s longstanding Japanese strategic partner and distributor. STRATA’s excimer devices are currently used by over 300 hospitals and private practice dermatology clinics in Japan.
“With this regulatory approval, we are now able to offer the Momentum™ device -- our most advanced excimer laser -- into the Japanese dermatology market. Working with JMEC, we look forward to introducing doctors and patients to the benefits of Momentum™ for the treatment of various dermatology conditions, such as psoriasis, eczema, and vitiligo,” commented STRATA’s President and CEO Dr. Dolev Rafaeli.
The Company’s XTRAC® excimer laser technology allows for the precise delivery of targeted UVB light therapy to specific treatment areas of the skin, for both adult and pediatric patients suffering from inflammatory skin conditions such as psoriasis, atopic dermatitis, and vitiligo. The new XTRAC Momentum™ 1.0 represents the latest in excimer laser technology and delivers higher power and a faster repetition rate than the current models. The Momentum™ also offers a new user interface and slim design, both intended to improve the treatment experience.
About STRATA Skin Sciences
STRATA Skin Sciences is a medical technology company dedicated to developing, commercializing, and marketing innovative products for the in-office treatment of various dermatologic conditions, such as psoriasis, vitiligo, and acne. Its products include the XTRAC® excimer laser, VTRAC® lamp systems, and the TheraClear®X Acne Therapy System.
STRATA is proud to offer these exciting technologies in the U.S. through its unique Partnership Program. STRATA’s popular partnership approach includes a fee per treatment cost structure (versus an equipment purchase), installation and use of the device, on-site training for practice personnel, service and maintenance of the equipment, dedicated account and customer service associates, and co-op advertising support to help raise awareness and promote the program within the practice.
Safe Harbor
This press release includes "forward-looking statements" within the meaning of the Securities Litigation Reform Act of 1995. These statements include but are not limited to the Company’s plans, objectives, expectations and intentions and may contain words such as “will,” “may,” “seeks,” and “expects,” that suggest future events or trends. These statements, the Company’s ability to launch and sell products recently acquired or to be developed in the future, the Company’s ability to develop social media marketing campaigns, direct to consumer marketing campaigns, and the Company’s ability to build a leading franchise in dermatology and aesthetics, are based on the Company’s current expectations and are inherently subject to significant uncertainties and changes in circumstances. Actual results may differ materially from the Company’s expectations due to financial, economic, business, competitive, market, regulatory, adverse market conditions labor supply shortages, or supply chain interruptions resulting from fiscal, political factors, international conflicts, responses, or conditions affecting the Company, the medical device industry and our customers and patients in general, as well as more specific risks and uncertainties set forth in the Company’s SEC reports on Forms 10-Q and 10-K. Given such uncertainties, any or all these forward-looking statements may prove to be incorrect or unreliable. The statements in this press release are made as of the date of this press release, even if subsequently made available by the Company on its website or otherwise. The Company does not undertake any obligation to update or revise these statements to reflect events or circumstances occurring after the date of this press release. The Company urges investors to carefully review its SEC disclosures available at www.sec.gov and www.strataskinsciences.com.
Investor Contact:
CORE IR
516-222-2560
IR@strataskin.com
FAQ
What is the XTRAC Momentum™ 1.0 device approved for in Japan?
How does the XTRAC Momentum™ 1.0 differ from previous STRATA devices?
When was the XTRAC Momentum™ 1.0 initially launched in the United States?
Who is STRATA's strategic partner for distributing the XTRAC Momentum™ 1.0 in Japan?
