Strata Skin Sciences Inc Stock Price, News & Analysis

STRATA Skin Sciences (NASDAQ: SSKN) has received approval for its XTRAC Momentum™ 1.0 device from Japan's Ministry of Health, Labor and Welfare. The device, initially launched in the U.S. in early 2022, will be commercially rolled out in Japan through JMEC Co., , STRATA's strategic partner and distributor. STRATA's excimer devices are currently used in over 300 Japanese hospitals and dermatology clinics.

The XTRAC Momentum™ 1.0 is STRATA's most advanced excimer laser, offering higher power and faster repetition rates than current models. It features a new user interface and slim design to enhance the treatment experience. The technology allows for precise delivery of targeted UVB light therapy for treating inflammatory skin conditions like psoriasis, eczema, and vitiligo in both adult and pediatric patients.

STRATA Skin Sciences (NASDAQ: SSKN) announces the publication of a clinical study on their TheraClear®X Acne Therapy System in the Journal of Cosmetic and Laser Therapy. The study, titled "Advancing precision acne therapy using a photopneumatic device," demonstrates the system's effectiveness in treating mild-moderate acne.

Key findings include:

• ≥50% clearance of acne lesions after three treatments
• Improvements in skin texture, redness, pore size, and oiliness
• Mild and transient side effects
• Comfortable treatment experience for patients

The FDA-cleared TheraClearX combines vacuum and pulsed broadband light to treat acne, offering a non-invasive, in-office alternative to traditional therapies. The study supports its use as both monotherapy and adjuvant treatment for acne patients.

STRATA Skin Sciences pre-announced its Q2 2024 financial results, estimating total revenue between $8.0 million and $8.4 million.

The company's domestic installed base of XTRAC® devices decreased from 907 to 881 units, while TheraClear®X devices saw growth, increasing from 104 to 117 units.

As of the end of Q2 2024, STRATA's cash, cash equivalents, and restricted cash totaled $6.8 million.

CEO Dr. Dolev Rafaeli highlighted strategic efforts in device deployment and direct-to-consumer activities to enhance patient awareness and clinic visits. Additionally, media coverage of the TheraClear®X device is expected to boost market awareness of their dermatology solutions.

Full financial results are expected to be reported on August 14, 2024.

STRATA Skin Sciences announces the availability of two webinars hosted by leading dermatologists, focusing on the benefits of its XTRAC® excimer laser and TheraClear®X photopneumatic device. The webinars aim to educate dermatologists on new treatment approaches for psoriasis, vitiligo, eczema, and mild to moderate acne. The XTRAC® webinar, led by Dr. Michael Nazareth, covers phototherapy treatment guidelines, device application, and reimbursement codes. The TheraClear®X webinar, hosted by Dr. Suneel Chilukuri, discusses acne treatment methods and showcases successful case histories. Dr. Dolev Rafaeli, CEO of STRATA, highlights the goal of enhancing awareness and utilization of STRATA's clinically proven devices, already backed by over 300 peer-reviewed studies.

STRATA Skin Sciences announced the publication of a clinical study in the Journal of Clinical and Aesthetic Dermatology on the TheraClear®X Acne Therapy System. Conducted by Dr. Glynis Ablon, the study found TheraClear®X to be a safe and effective noninvasive treatment for mild to moderate acne with high patient satisfaction. The device, which combines vacuum and pulsed broadband light, showed significant reduction in acne lesions and visible improvements after three treatments. It was well-tolerated with no adverse events, and 80% of participants were satisfied with the treatment. Additionally, 87% would recommend it to others. The study concluded that TheraClear®X is especially beneficial for patients who find other acne treatments ineffective or poorly tolerated.

STRATA Skin Sciences (NASDAQ: SSKN) will participate in two key dermatology conferences in June. The company showcased its XTRAC® and TheraClear®X devices at the Schweiger Symposium in New York City on June 1, and will participate in the Global Vitiligo Foundation Physician Education Summit in Indianapolis on June 21. At the Schweiger Symposium, STRATA engaged with dermatology providers, presenting the applications and advantages of its devices. The company has installed its devices in over 35 offices of the Schweiger Dermatology Group. The upcoming Summit will focus on vitiligo, where STRATA will demonstrate the efficacy of its XTRAC® device for treating this condition. STRATA's participation underscores its strategy to expand the use of its devices for conditions like vitiligo and eczema, beyond psoriasis.

STRATA Skin Sciences reported a 11% decline in Q1 2024 revenue to $6.8 million from $7.6 million in Q1 2023. Global net recurring revenue also decreased by 10% to $4.7 million. Despite these declines, gross domestic recurring billings fell only 3%, showing signs of stabilization. Operating expenses decreased by 14% to $6.0 million, while the domestic installed base of XTRAC® devices decreased to 907 units. The company renewed agreements with exclusive distributors in China and Japan and amended its credit agreement with MidCap Financial Trust. The net loss increased to $3.4 million from $2.8 million in Q1 2023. Cash reserves stood at $6.6 million as of March 31, 2024.

STRATA Skin Sciences (NASDAQ: SSKN), a medical technology company, announced that its TheraClear®X devices surpassed 100 domestic installations by March 31, 2024. The company is expanding within existing XTRAC® partner clinics, including private equity-backed dermatology clinics like California Skin Institute and Aqua Dermatology. Pennsylvania Dermatology Partners, with 35 clinics, is also a strategic account. The Palo Alto Medical Foundation marked a comeback win. STRATA partnered with 48 private equity-backed dermatology groups, with a total of 2,482 locations, deploying 386 XTRAC® and 62 TheraClear®X devices. CEO Dr. Dolev Rafaeli emphasized the effectiveness of TheraClear®X in treating acne, combining vacuum and pulsed broadband light technology, offering a reimbursable treatment option for dermatologists.

STRATA Skin Sciences (NASDAQ: SSKN), a medical technology firm specializing in dermatologic treatments, will participate in the Benchmark Healthcare House Call Virtual 1x1 Investor Conference on May 21-22, 2024. The event will feature Dr. Dolev Rafaeli, CEO, and Christopher Lesovitz, CFO, who will be available for one-on-one meetings. Interested investors can register on Benchmark’s website or contact IR@strataskin.com to arrange a meeting. This participation aims to provide insights into the company's current activities and future plans.