Strata Skin Sciences Inc Stock Price, News & Analysis

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.

STRATA Skin Sciences, Inc. (NASDAQ: SSKN) has renewed its debt through a one-year cash secured loan with Israel Discount Bank of New York at a fixed interest rate of 1.40%, due December 30, 2021. The company focuses on innovative dermatology products, including the XTRAC® excimer laser, used to treat conditions affecting over 35 million patients in the U.S. STRATA has expanded its dermatology partner network to over 813 clinics and maintains a worldwide installed base of over 2,000 devices, employing a direct-to-consumer advertising model.

STRATA Skin Sciences (SSKN) reported Q3 2020 revenue of $5.6 million, a 25% decline from $7.5 million in Q3 2019. Recurring revenue fell 35.9% year-over-year to $3.8 million but saw a 37.2% increase from Q2 2020. Gross margins dropped to 57.5% from 61.8% a year prior. The net loss was $1.3 million, or $0.04 per share, compared to a loss of $0.9 million, or $0.03 per share in Q3 2019. With 837 XTRAC devices installed, the company remains cautiously optimistic about growth despite COVID-19 challenges.

STRATA Skin Sciences, a medical technology company focused on dermatology, announced its participation in several upcoming investor conferences. Dr. Dolev Rafaeli and CFO Matthew Hill will present at the H.C. Wainwright 6th Annual Israel Conference on November 12, 2020, at 2:30 PM ET (virtual format), and the Oppenheimer MedTech Summit on the same day with 1x1 meetings. They will also attend the A.G.P. Virtual Healthcare Symposium on November 19, 2020, also focusing on 1x1 meetings. STRATA is known for its innovative XTRAC® excimer laser treatment technology, targeting skin conditions affecting over 35 million patients in the U.S.

STRATA Skin Sciences, Inc. (NASDAQ: SSKN) will release its third quarter financial results on November 10, 2020, prior to market opening. A conference call is scheduled for 8:30 AM ET to discuss the results and provide a corporate update. STRATA focuses on innovative dermatological treatments, including the XTRAC excimer laser system, which targets conditions like psoriasis and vitiligo. The Company has established a robust network of over 789 dermatology clinics, enhancing patient access to reimbursable treatment options.

STRATA Skin Sciences (NASDAQ: SSKN) announced a peer-reviewed study in the Journal of Drugs in Dermatology highlighting the cost-effectiveness and clinical efficacy of its XTRAC excimer laser for psoriasis. The study reveals that XTRAC provides faster results with fewer adverse events compared to traditional treatments, achieving up to 97% savings over biologic drugs. Patients experience shorter treatment durations and can attain remission without maintenance therapy. The results position XTRAC as a valuable alternative amid rising concerns over costly biologic therapies.

STRATA Skin Sciences announced that Cigna now covers excimer laser therapy for treating localized vitiligo, previously deemed cosmetic. The policy allows for up to 12 weeks of treatment, with extensions possible based on clinical response. This change could significantly expand the market for STRATA, as approximately $38,000 can be reimbursed per patient over a year. The company highlights its unique position, being the sole licensee of vitiligo-related patents, and aims to reach more dermatology clinics and patients across the U.S.

STRATA Skin Sciences announced a new direct distribution contract with JMEC Co., Ltd. for its XTRAC® and VTRAC® products in Japan. This contract aims to enhance brand value, leveraging STRATA's strong balance sheet and JMEC's distribution network. With over 12,000 dermatologists in Japan, STRATA expects recurring revenue impacts by the end of 2020. The treatment procedure covered by national health insurance is priced at $33. The partnership builds on a 15-year relationship to expand treatment access for vitiligo and psoriasis patients in a growing market.