Strata Skin Sciences Inc Stock Price, News & Analysis

STRATA Skin Sciences (NASDAQ: SSKN) has announced the acquisition of Theravant Corporation's TheraClear System, enhancing its position in the $5.5 billion acne care market. The deal involves an upfront payment of $1 million, comprising $500,000 in cash and $500,000 in common stock, with additional milestone-based payments. This acquisition allows STRATA to leverage its marketing platform to expand its product offerings beyond acne treatments. TheraClear's FDA-cleared system promises effective in-office treatment for various acne types, aiming to enhance patient compliance and satisfaction.

STRATA Skin Sciences, Inc. (NASDAQ: SSKN) announced participation in the H.C. Wainwright Bioconnect Virtual Conference, with a pre-recorded presentation set for January 10, 2022, at 7:00 am ET. The presentation will be accessible via the investor section of their website. STRATA focuses on innovative dermatology treatments, offering products like XTRAC and Pharos excimer lasers, which treat skin conditions affecting over 31 million patients in the U.S. Their strategy includes direct-to-consumer advertising to boost awareness and support partner clinics through in-house services.

STRATA Skin Sciences (NASDAQ: SSKN) announced the appointment of Douglas Strang to its Board of Directors, effective October 27, 2021. Strang, a former partner at PwC, will serve as Audit Committee Chair following LuAnn Via's departure on December 31, 2021. With a 35-year career in life sciences and extensive experience in financial audits and risk management, Strang aims to enhance STRATA's growth in the dermatology sector. The company, known for its XTRAC laser system, anticipates strong momentum in 2022 and beyond.

STRATA Skin Sciences, Inc. (NASDAQ: SSKN) reported Q3 2021 revenues of $7.7 million, a 37.4% increase year-over-year. Recurring revenues rose 48.9% to $5.7 million. The company achieved gross margins of 69.7%, up 12.2% from Q3 2020. STRATA entered an $8 million credit agreement, enhancing its financial flexibility. Cash and equivalents stood at $13.1 million at the end of Q3. The company anticipates returning to pre-COVID revenue levels by year-end 2021, bolstered by its acquisition of Ra Medical Systems' dermatology business.

STRATA Skin Sciences (NASDAQ: SSKN) plans to release its third quarter 2021 financial results on November 10, 2021, after market close. A conference call for a financial review and corporate update will follow at 4:30 p.m. Eastern Time. STRATA specializes in developing innovative dermatologic products, including XTRAC and Pharos excimer lasers, aimed at treating over 31 million patients in the U.S. with conditions like psoriasis and vitiligo. Interested parties can access the call through the company's website or by phone using conference ID 10017028.

STRATA Skin Sciences, Inc. (NASDAQ: SSKN) announced the appointment of Christopher Lesovitz as Chief Financial Officer, effective October 16, 2021, succeeding Matthew Hill. Lesovitz previously served as the company's Controller and has extensive experience in finance within the dermatology sector. Additionally, STRATA has completed an $8 million financing agreement with MidCap Financial Trust, allowing full drawdown of funds to address existing debts, including a loan from Israel Discount Bank and an Economic Injury Disaster Loan.

STRATA Skin Sciences, Inc. (NASDAQ: SSKN) has been invited to present at the Fall Harvest – Best Ideas from the Buy-Side conference on October 6, 2021, at 11:00 AM ET. CEO Robert J. Moccia will lead the presentation, and one-on-one meetings will be available. Interested parties can access the live and archived webcast via the company’s website. STRATA specializes in innovative dermatologic treatments, including excimer lasers for psoriasis and vitiligo, impacting over 31 million patients in the U.S.

STRATA Skin Sciences, Inc. (NASDAQ: SSKN) announced its participation in two upcoming investor conferences. Management will present at the H.C Wainwright 23rd Annual Global Investment Conference on September 13 at 7:00 am ET, and at the Oppenheimer Fall Healthcare Life Sciences & Med Tech Summit on September 20 at 3:45 pm ET. Webcasts of both presentations will be accessible on the Company's website. STRATA specializes in dermatology technology, offering products like the XTRAC and Pharos lasers for treating conditions such as psoriasis and vitiligo, impacting over 31 million patients in the U.S.

STRATA Skin Sciences (NASDAQ: SSKN) reported strong financial results for the second quarter of 2021, with total revenue of $7.4 million, an 83.1% increase year-over-year. Recurring revenue rose 95.0% to $5.5 million, driven by gross domestic recurring billings of $5.5 million, up 196.6% from the previous year. Gross margins improved to 64.5%. The company concluded the quarter with 889 XTRAC devices installed, marking an increase. Despite a decline in cash reserves to $17 million, the acquisition of Ra Medical's dermatology business is expected to bolster revenue growth.