Business
Journey Medical Corporation Reports Second Quarter 2022 Financial Results and Recent Corporate Highlights
Second quarter 2022 net revenue increased 20% to $18.3 million versus the same quarter of 2021 DFD-29 Phase 3 studies 45% enrolled to date; 9 additional sites
About this update from Journey Medical Corporation
[{"type":"text","content":"Second quarter 2022 net revenue increased 20% to $18.3 million versus the same quarter of 2021 DFD-29 Phase 3 studies 45% enrolled to date; 9 additional sites underway in Europe open to enrollment Top-line data anticipated from the Phase 3 clinical program evaluating DFD-29 for the treatment of papulopustular rosacea in the first half of 2023 Company to hold conference call on August 9, 2022 at 4:30 p.m. ET SCOTTSDALE, Ariz., Aug. 09, 2022 (GLOBE NEWSWIRE) -- Journey Medical Corporation (NASDAQ: DERM) (“Journey Medical” or the “Company”), 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 second quarter and six months ended June 30, 2022. Claude Maraoui, Journey Medical’s Co-Founder, President, and Chief Executive Officer said, “We generated net revenues of $18.3 million in the second quarter of 2022, which represents an increase of 20% from the same quarter last year. Additionally, the settlement agreements executed with Padagis US LLC (“Padagis”) earlier this quarter assisted in solidifying Journey Medical’s exclusivity of our three newest products, QBREXZA®, AMZEEQ® and ZILXI®, and provide a clear pathway that we expect will allow us to grow the sales of these products for years to come.” “Enrollment in our two DFD-29 Phase 3 studies is progressing well in the U.S. and we are currently enrolling patients in Europe. Looking ahead, we expect to announce top-line data from our DFD-29 program for the treatment of papulopustular rosacea in the first half of 2023. A New Drug Application (“NDA”) filing is subsequently expected in the second half of 2023. We also anticipate launching an additional product in the second half of 2022, which will be Journey Medical’s tenth marketed dermatology product,” concluded Mr. Maraoui. Financial Results: Net revenues were $18.3 million for the second quarter of 2022, compared to net revenues of $15.3 million for the second quarter of 2021, representing 20% growth versus the second quarter of 2021. The 20% growth was limited due to reduced revenue from Targadox® and its authorized generic as a result of continued generic competition and supply chain delays causing a backorder for the XIMINO® and EXELDERM® b...