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, Inc. (NASDAQ: SSKN) is a medical technology company focused on in-office dermatologic devices, and its news flow reflects that specialization. Company announcements frequently highlight developments related to its core technologies: the XTRAC® excimer laser, VTRAC® lamp systems, and the TheraClearX® Acne Therapy System. These updates often cover new clinical evidence, regulatory milestones, reimbursement decisions, and commercial expansion in dermatology markets.
Investors and clinicians following SSKN news can expect regular coverage of peer-reviewed studies involving XTRAC in conditions such as psoriasis, vitiligo, atopic dermatitis, and mycosis fungoides, including combination regimens with topical drugs and JAK inhibitors. STRATA frequently reports on published data that it believes support the safety, efficacy, and personalized use of excimer laser therapy across a range of inflammatory and autoimmune skin diseases.
News items also address reimbursement and policy developments. STRATA has issued releases on CMS Medicare Physician Fee Schedule decisions related to CPT® codes 96920–96922, including continued coverage, payment levels, and recognition of future code descriptor expansions for excimer laser procedures. These updates are relevant for understanding how reimbursement may influence utilization of XTRAC in U.S. dermatology clinics.
Corporate and capital markets updates are another recurring theme. STRATA uses news releases to communicate quarterly financial results, non-GAAP performance metrics, registered direct offerings, and at-the-market equity programs. The company also reports on its legal and competitive positioning, including litigation milestones against competing device manufacturers and the recapture of dermatology clinics into its XTRAC partnership network.
International growth initiatives, such as COFEPRIS clearance for TheraClearX in Mexico and partnerships with commercialization firms like MINO Labs, appear in STRATA’s news as the company expands its device-based acne and phototherapy offerings beyond the United States. For users of this SSKN news page, the feed provides an ongoing view into STRATA’s clinical, regulatory, commercial, and financial developments in the dermatology device space.
STRATA Skin Sciences, Inc. (NASDAQ: SSKN), a medical technology company focused on dermatologic treatments, has announced its participation in the 9th Annual Virtual Needham MedTech & Diagnostics 1x1 Conference. The event is scheduled for August 12-13, 2024.
Key points:
- Dr. Dolev Rafaeli, President and CEO, and Christopher Lesovitz, CFO, will represent STRATA
- They will be available for one-on-one meetings on both conference days
- Investors can arrange meetings by contacting IR@strataskin.com
This participation demonstrates STRATA's commitment to engaging with investors and showcasing their innovative dermatologic products and technologies.
STRATA Skin Sciences (NASDAQ: SSKN) has successfully closed a $2.1 million registered direct offering of common stock. The company issued 665,136 shares at an average price of $3.16 per share. This offering was conducted under a previously filed and effective shelf registration statement. Notably, insiders and existing shareholders participated in the offering, which the company views as a sign of confidence in its strategic plan and execution abilities.
Dr. Dolev Rafaeli, STRATA's President and CEO, emphasized that this financing will extend the company's cash runway and demonstrates conviction in their path to profitability. STRATA Skin Sciences is a medical technology company focused on developing and marketing innovative products for dermatologic conditions.
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.