Strata Skin Sciences Inc Stock Price, News & Analysis

STRATA Skin Sciences, a leader in dermatology tech, announced its participation in the Lytham Partners Spring 2021 Investor Conference on March 30 at 3:30 p.m. ET. The event will include management presentations and virtual one-on-one meetings from March 30 to April 1, 2021. Interested parties can access the presentation via the company's website. STRATA specializes in innovative products for dermatologic conditions, including the XTRAC® excimer laser. With over 832 partner clinics and a global device base exceeding 2,300, STRATA aims to revolutionize skin disease treatment.

STRATA Skin Sciences (NASDAQ: SSKN) announced a study revealing effective vitiligo treatment using its XTRAC excimer laser, achieving satisfactory repigmentation in five sessions. Conducted in Japan, the study published in November 2020 indicates improved results over traditional therapies like UVB light. The XTRAC's higher irradiation rate was highlighted, along with reduced treatment burdens. STRATA aims to address the unmet need in Japan for vitiligo treatment, bolstered by positive clinical outcomes supporting its innovative technology.

STRATA Skin Sciences, Inc. (NASDAQ: SSKN) announced it will release its fourth quarter and full year financial results on March 24, 2021, after market close. Management will hold a conference call at 4:30 p.m. ET to discuss the results and provide a corporate update, which will also be webcasted. STRATA specializes in medical technology, focusing on innovative products for dermatological conditions, including its XTRAC® excimer laser. The company’s DTC advertising strategy has expanded its partner dermatology clinic network to over 832 locations across the U.S.

STRATA Skin Sciences, Inc. (NASDAQ: SSKN) has expanded its direct distribution agreement with Wuhan Miracle Laser Systems, Inc. to enhance its presence in the Chinese dermatology market. This agreement aims to generate recurring revenues from XTRAC® excimer laser placements and direct sales. With over 180 devices installed, STRATA seeks to leverage its robust business model and strong balance sheet to support growth in China. This partnership builds on a 15-year collaboration with Miracle, a leading medical device distributor in the region.

STRATA Skin Sciences, Inc. (NASDAQ: SSKN) announced the grant of equity-based awards to Robert Moccia, who has commenced his role as CEO and President. Effective March 1, 2021, Moccia received stock options to purchase 1,632,590 shares at a strike price of $1.73, vesting over three years. This decision supports the company's strategic goal to enhance its leadership in dermatology, particularly through its innovative treatment solutions like the XTRAC® excimer laser, which serves millions of patients with various skin conditions.

STRATA Skin Sciences, Inc. (NASDAQ: SSKN) announced the appointment of Robert Moccia as President and CEO, effective March 1, 2021, following the departure of Dolev Rafaeli, Ph.D. Moccia brings over three decades of experience in dermatology, previously founding Encore Dermatology and doubling revenues at Precision Dermatology, leading to a significant acquisition. The company plans to release its Q4 2020 financial results on March 24, 2021, aiming to enhance its position in the growing dermatology market through its innovative products and direct-to-consumer business model.

STRATA Skin Sciences reported preliminary fourth quarter revenues of $6.6 million to $6.8 million, down from $8.9 million in Q4 2019. Recurring revenues are projected between $5.0 million and $5.2 million, compared to $6.6 million a year prior. The company saw a net increase of 19 XTRAC systems placed domestically. Cash and cash equivalents rose to $18.0 million as of December 31, 2020. Despite challenges due to COVID-19, December 2020 marked the highest gross domestic billing month of the year. Final audited results will be released in late March.

STRATA Skin Sciences (NASDAQ: SSKN) has launched a new business, Home by XTRAC™, providing at-home treatment for skin diseases not eligible for in-office care. This service is insurance-reimbursed and leverages existing resources without significant costs. The company began initial shipments in 2020 and anticipates a positive revenue impact in 2021. The Home by XTRAC™ solution aims to meet the needs of patients with conditions like psoriasis, impacting over 31 million Americans. STRATA expects per patient reimbursements ranging from $1,316 to $5,163.

STRATA Skin Sciences, Inc. (NASDAQ: SSKN), a leader in medical technology for dermatology, announced participation in the H.C. Wainwright BioConnect Virtual Conference from January 11 to January 14, 2021. The presentation will be available on demand starting January 11 on the Company’s website. STRATA develops innovative products like the XTRAC excimer laser, targeting dermatologic conditions such as psoriasis and vitiligo, impacting over 35 million Americans. The Company's unique DTC advertising model has expanded its network to over 813 clinics and over 2,000 devices globally, enhancing patient access to treatment.