Welcome to our dedicated page for Strata Skin Sciences news (Ticker: SSKN), a resource for investors and traders seeking the latest updates and insights on Strata Skin Sciences stock.
STRATA Skin Sciences reports company developments around dermatology medical devices for in-office treatment of psoriasis, vitiligo, acne and other dermatologic conditions. Updates commonly address the XTRAC® 308 nm excimer laser, VTRAC® lamp systems, the TheraClear®X Acne Therapy System, clinical evidence for targeted UVB and photopneumatic therapies, and customer adoption by dermatology practices and academic medical centers.
Company news also covers financial results, recurring revenue and equipment sales, reimbursement and CPT coding for excimer laser treatments, international regulatory clearances such as COFEPRIS for TheraClearX in Mexico, and corporate-status events. In 2026, STRATA confirmed suspension of its common stock from The Nasdaq Capital Market and SEC filings to remove and terminate Exchange Act registration.
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.
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.