Wasatch Advisors Reports 1.15M-Share Stake in Journey Medical (DERM)

Rhea-AI Filing Summary

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.

Positive

• Material institutional stake disclosed: Wasatch reports beneficial ownership of 1,152,059 shares (6.7%)
• Passive intent certified: Filing states holdings are in the ordinary course of business and not for changing or influencing control

Negative

• None.

Insights

Financial Analyst

TL;DR Wasatch holds a material passive stake (6.7%) in Journey Medical, significant for institutional ownership but not signaling activist intent.

Wasatch's 6.7% stake and sole dispositive power over 1,152,059 shares is large enough to register as a >5% institutional holder and may influence liquidity and ownership concentration. Because the filer utilized Schedule 13G and certified the holdings are in the ordinary course of business and not for control purposes, this appears to be a passive position rather than an attempt to direct corporate strategy. Investors should note the size of the stake as part of the shareholder base composition.

Corporate Governance Expert

TL;DR Disclosure shows material institutional ownership but affirms passive intent; no governance change or coordination is indicated.

The filing discloses sole voting power on 1,045,193 shares and sole dispositive power on 1,152,059 shares, which confirms Wasatch can vote its holdings independently. However, the explicit certification that the securities are not held to influence control and the use of Schedule 13G indicate no present activist or control-seeking objective. From a governance perspective, this is an ownership disclosure without accompanying proposals, group affiliations, or coordination signals.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Journey Medical Corp

(Name of Issuer)

Common Stock

(Title of Class of Securities)

48115J109

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 48115J109

1

Names of Reporting Persons

WASATCH ADVISORS LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,045,193.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,152,059.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,152,059.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.7 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Journey Medical Corp
(b)	Address of issuer's principal executive offices: 9237 E VIA DE VENTURA BLVD., SUITE 105, 9237 E VIA DE VENTURA BLVD., SUITE 105, SCOTTSDALE, ARIZONA, 85258.
Item 2.
(a)	Name of person filing: Wasatch Advisors LP
(b)	Address or principal business office or, if none, residence: 505 Wakara Way, 3rd Floor, Salt Lake City, 84108, United States
(c)	Citizenship: DELAWARE
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 48115J109
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 1,152,059
(b)	Percent of class: 6.7 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 1,045,193
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 1,152,059
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

WASATCH ADVISORS LP

Signature:	Mike Yeates
Name/Title:	CEO
Date:	08/14/2025

FAQ

What stake does Wasatch Advisors hold in Journey Medical (DERM)?

Wasatch Advisors reports beneficial ownership of 1,152,059 Journey Medical shares, representing 6.7% of the class.

How much voting power does Wasatch have over DERM shares?

Wasatch has sole voting power over 1,045,193 shares and 0 shares of shared voting power.

Does Wasatch intend to influence control of Journey Medical (DERM)?

The filing certifies the securities are held in the ordinary course of business and were not acquired to change or influence control of the issuer.

Under which reporting classification was this disclosure filed?

The disclosure was made on Schedule 13G, indicating a passive institutional investor report rather than an active 13D control filing.

What powers to dispose of shares does Wasatch report for DERM?

Wasatch reports sole dispositive power over 1,152,059 shares and 0 shares of shared dispositive power.