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 (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.
STRATA Skin Sciences (NASDAQ: SSKN) will release its second quarter financial results for the period ended June 30, 2020, on August 11 before market open. The company focuses on innovative products for dermatological conditions, with a primary offering being the XTRAC excimer laser system. This technology addresses conditions like psoriasis and vitiligo, impacting over 35 million patients in the U.S. STRATA has established a network of over 822 clinics and more than 2,000 devices worldwide, utilizing a direct-to-consumer advertising model to drive awareness and increase physician introductions.
STRATA Skin Sciences (NASDAQ: SSKN) reported Q1 2020 results with total revenue of $6.7 million, a 10.1% decline from Q1 2019. However, global recurring revenue grew by 7.3% to $5.7 million. Gross margins improved to 65.4%, with recurring gross margins at 68.4%. The company's net loss narrowed to $1.0 million, down 22.4% from the previous year. As of March 31, 2020, STRATA had $15.6 million in cash and received a $2 million PPP loan to support operations during the pandemic. The firm is optimistic about business recovery as restrictions lift.