Business
Journey Medical Corporation Reports Full-Year 2021 Financial Results and Recent Corporate Highlights
Generated record net product revenues of $63.1 million for the full year 2021 Completed initial public offering of common stock and raised $30.6 million in
About this update from Journey Medical Corporation
[{"type":"text","content":"Generated record net product revenues of $63.1 million for the full year 2021 Completed initial public offering of common stock and raised $30.6 million in net proceeds Dosed first patient in Phase 3 clinical program evaluating DFD-29 for the treatment of papulopustular rosacea Company to hold conference call on March 23, 2022 at 4:30 p.m. ET SCOTTSDALE, Ariz., March 23, 2022 (GLOBE NEWSWIRE) -- Journey Medical Corporation (NASDAQ: DERM) (“Journey Medical”), a commercial-stage pharmaceutical company that focuses on the development and commercialization of pharmaceutical products for the treatment of dermatological conditions, today announced financial results and recent corporate highlights for the fourth quarter and full year ended December 31, 2021. Claude Maraoui, Journey Medical’s Co-Founder, President and Chief Executive Officer, said, “Journey Medical had a transformational year advancing corporate and clinical milestones. We generated record net product revenues of $63.1 million in 2021, completed an IPO which produced proceeds of $30.6 million net of discounts and other offering costs, and became listed on Nasdaq. From Q2 of 2021 through early 2022, we in-licensed, acquired, and launched four prescription dermatology products including Accutane®, Qbrexza®, Amzeeq® and Zilxi®, in addition to DFD-29. We are extremely pleased to have expanded our dermatologic footprint to include nine marketed dermatology products and have our pivotal Phase 3 clinical program underway for DFD-29, which is being evaluated for the treatment of papulopustular rosacea. We plan to launch one additional prescription product in the first half of 2022. With a strong financial foundation, a seasoned dermatology sales force and leadership team, and a strategic development pipeline, Journey Medical is well-positioned for continued growth in 2022 and beyond.” Financial Results: Journey Medical products generated net product revenues of $63.1 million for the full year 2021, compared to net product revenues of $44.5 million for the full year 2020, representing a 42% growth. This includes net product revenues of $17.5 million for the fourth quarter of 2021, compared to net revenues of $13.7 million generated in the fourth quarter of 2020, representing 28% growth.Selling, general and administrative expenses were $39.8 million for the full year of 2021, com...