Journey Medical Corp SEC Filings

Journey Medical Corp (DERM) insider filing: The reporting person, Claude Maraoui (President & CEO and Director), exercised 1,250,000 stock options dated October 19, 2015, with an exercise price of $0.065 on 08/25/2025, acquiring 1,250,000 common shares. The Form 4 also reports a disposition of 10,877 shares at $7.47 on the same date. The filing corrects a prior administrative error in previously reported beneficial ownership and shows a post-transaction direct beneficial ownership balance of 2,386,713 shares.

Wasatch Advisors LP reports beneficial ownership of 1,152,059 shares of Journey Medical Corp, representing 6.7% of the outstanding common stock. Wasatch holds sole voting power on 1,045,193 shares and sole dispositive power on 1,152,059 shares, indicating direct control over voting and disposition of those holdings.

The filing identifies Wasatch as an investment adviser and states the securities are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer, reflecting a passive ownership position.

Journey Medical reported consolidated product revenue of $15.0 million for the quarter ended June 30, 2025, up slightly from $14.9 million a year earlier as the newly launched Emrosi contributed $2.8 million in the quarter while sales of Accutane declined. The company recorded a net loss of $3.8 million for the quarter and $7.9 million for the six months, narrower year-to-date than the prior-year six-month loss of $13.8 million.

At June 30, 2025 the company held $20.3 million in cash, working capital of $10.8 million, total assets of $81.2 million and stockholders' equity of $19.2 million. Debt includes a $25.0 million term loan (net carry amount $25.1 million) with a current portion of $3.75 million and an effective interest rate of about 14.6%. Management discloses substantial doubt about the company’s ability to continue as a going concern due to recurring losses, and gross-to-net reserves increased to $13.9 million, driven by coupon/rebate accruals related to Emrosi.

Journey Medical Corporation furnished a Current Report on Form 8-K stating that on August 12, 2025 the company issued a press release providing a corporate update and announcing its financial results for the three months ended June 30, 2025. The press release is furnished as Exhibit 99.1 to the report and the cover page interactive data file is furnished as Exhibit 104 (iXBRL). The report specifies the furnished information is not being "filed" under the Securities Exchange Act and is not subject to Section 18 liabilities.

The filing notes Journey Medical is an emerging growth company, lists its Nasdaq trading symbol as DERM and includes the registrant's business address and telephone number. The document is signed by Claude Maraoui, Chief Executive Officer, President and Director.