10-K - Journey Medical Corp (0001867066) (Filer)

Thu, Mar 27, 10:10 AM (25 days ago)

### Summary of Journey Medical Corp (DERM) 2024 Annual Report **Financial Performance:** - **Revenue:** $56.1 million (2023: $79.2 million) - **Product Revenue:** $55.1 million (2023: $59.7 million) - **Other Revenue:** $1.0 million (2023: $19.5 million) - **Net Loss:** $14.7 million (2023: $3.9 million) - **Operating Expenses:** $69.8 million (2023: $81.3 million) - **Cost of Goods Sold:** $20.9 million (2023: $23.0 million) - **Research and Development:** $9.9 million (2023: $7.5 million) - **Selling, General, and Administrative:** $40.2 million (2023: $43.9 million) - **Earnings Per Share:** $(0.72) (2023: $(0.21)) **Strategic Overview:** - **FDA Approval of Emrosi:** Approved on November 1, 2024, for the treatment of inflammatory lesions of rosacea in adults. - **Product Portfolio:** Includes eight FDA-approved prescription drugs for dermatological conditions. - **Growth Strategy:** Focuses on acquiring and developing products, expanding market reach, and enhancing product portfolio. **Future Outlook:** - **Emrosi Commercialization:** Plans to begin sales promotion in April 2025. - **Financial Condition:** $20.3 million in cash and cash equivalents as of December 31, 2024. - **Capital Requirements:** Plans to raise additional capital through debt or equity financings, strategic alliances, and licensing arrangements. **Risk Factors:** - **Market Risks:** Dependence on FDA approvals, competition, and regulatory changes. - **Financial Risks:** Need for additional funding, potential dilution of stock, and reliance on third-party manufacturers. - **Operational Risks:** Dependence on key personnel, supply chain disruptions, and cybersecurity threats. **Market Position Changes:** - **Competitive Landscape:** Highly fragmented with many mid-size and smaller companies. - **Product Acceptance:** Dependent on market acceptance, reimbursement, and pricing strategies. **Amendment Summary:** - **Changes:** None specified in the provided text. - **Impact:** Not applicable as no amendments were mentioned.