Journey Medical Corporation · NASDAQ:DERM
Journey Medical — Q1 2025 Earnings Presentation
28 slides from Journey Medical's earnings presentation, May 14, 2025
Slide 1: Investor Presentation May 2025
INVESTOR PRESENTATION May 2025 Claude Maraoui Co-Founder, President and CEO Joseph Benesch PRESENTED BY: Chief Financial Officer Ramsey Alloush Chief Operating Officer 1 | © 2025 Journey Medical Corporation. All rights reserved.
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS FORWARD-LOOKING STATEMENTS This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. As used below and throughout this press r
Slide 3: NASDAQ: DERM
NASDAQ: DERM Market Cap: $171.4MM* Shares Outstanding: 23.1MM* ADTV (last 90-days): 76K* 3 | © 2025 Journey Medical Corporation. All rights reserved. *Market data as of 4/30/2025
Slide 4: Investment Highlights
INVESTMENT HIGHLIGHTS ✓ Commercial-stage pharmaceutical company focused on proprietary & patented products serving prescription dermatology markets with a total market size of ~$5.8 billion1 (acne, rosacea, hyperhidrosis) ✓ Key growth driver: EMROSI launched April 2025 in U.S. with head-to-head supe
Slide 5: Senior Management with Significant Dermatology Experience
SENIOR MANAGEMENT WITH SIGNIFICANT DERMATOLOGY EXPERIENCE Claude Maraoui Joseph Benesch Robert Nevin Ramsey Alloush Srinivas Andrew Zwible Ernest Galvan Jessica Yeaman Founder, President Chief Financial Officer Chief Commercial Officer Chief Operating Officer Sidgiddi, M.D. Vice President, Vice Pres
Slide 6: Our Leaders Have Launched Many Successful Dermatology Brands
OUR LEADERS HAVE LAUNCHED MANY SUCCESSFUL DERMATOLOGY BRANDS Experience growing & managing marquee medical dermatology brands that generated over $2B in sales 1: A majority of our management team and sales force were part of the commercial organization at Medicis (which was sold to Bausch Health Com
Slide 7: Our Commercial Organization Is Highlighted by a Unique and Experienced Dermatology Sales Force
OUR COMMERCIAL ORGANIZATION IS HIGHLIGHTED BY A UNIQUE AND EXPERIENCED DERMATOLOGY SALES FORCE HIGHLIGHTS & SALES EXPERIENCE 9 yrs. 292 yrs. 107 11 69 Avg. Dermatology Combined Experience Regional Sales Sales Rookies President’s Club Sales Experience in Dermatology Awards of the Year Trophies 35 DER
Slide 8: Prior to the Launch of EMROSI, the Core Product Portfolio Accounted for 90% of Product Sales
PRIOR TO THE LAUNCH OF EMROSI , THE CORE PRODUCT PORTFOLIO ACCOUNTED FOR 90% OF PRODUCT SALES • Glycopyrronium 2.4% cloth for topical treatment of • Treatment of inflammatory lesions of non-nodular moderate to severe primary axillary hyperhidrosis acne vulgaris • 43% prescription growth since acquir
Slide 9: Journey Successfully Relaunched Qbrexza in Months and Increased Prescriptions by 43%
JOURNEY SUCCESSFULLY RELAUNCHED QBREXZA IN 3 MONTHS & INCREASED PRESCRIPTIONS BY 43% IN 3 YEARS WITH LIMITED ADVERTISING SPEND1 March 31, 2021 May 14, 2021 Qbrexza® TRx Trajectory Journey executes asset Transaction with Dermira Closes (All Specialties) purchase agreement with Dermira for Qbrexza 139
Slide 10: Journey Achieved a Successful Brand Launch of Accutane in a Highly Competitive Market
JOURNEY ACHIEVED A SUCCESSFUL BRAND LAUNCH OF ACCUTANE® IN A HIGHLY COMPETITIVE MARKET Accutane® Franchise TRx Trajectory1 July 29, 2020 Journey acquires Sell Into (All Specialties) rights to Accutane Pharmacies $1MM Upfront 313,024 Journey Begins Promotion - April 2021 Develop Rebate Program 281,99
Slide 11: U.S. Commercial Launch April 2025
U.S. Commercial Launch April 2025 Leveraging Journey Medical’s Dermatology-Focused Commercial Platform & Business Development Strategy 11 | © 2025 Journey Medical Corporation. All rights reserved.
Slide 12: EMROSI: Commercial Highlights
EMROSI: COMMERCIAL HIGHLIGHTS • Emrosi received FDA approval in November 2024; On time, first-cycle review • Superior to both placebo and market-leading oral rosacea treatment, Oracea® • Emrosi has potential to become the standard of care • 17 million Americans suffer from rosacea1 • Established der
Slide 13: EMROSI: Potential Best-in-Class Treatment for Rosacea
EMROSI: POTENTIAL BEST-IN-CLASS TREATMENT FOR ROSACEA PRODUCT PROFILE INDICATION1 Treatment of inflammatory lesions (papules and pustules) of rosacea in adults Minocycline 40mg extended-release capsule: • Once-daily (QD) oral dosing; 16-week treatment duration PRODUCT • Each capsule contains a propr
Slide 14: EMROSI Was FDA-Approved on November 1, 2024
EMROSI WAS FDA-APPROVED ON NOVEMBER 1, 2024 First Top Line NDA FDA Systemic PK Study Patient In Data Acceptance Approval (Mar. 14, 2022) (24 healthy subjects) PHASE II (Complete) 3 Arms – Emrosi H1 H2 H1 H2 H1 H2 PHASE III (Complete) (20 & 40 mg) & Oraycea Safety & Efficacy Study in 200 2022 2023 20
Slide 15: EMROSI Demonstrated Superior Efficacy Over Oracea and Placebo in Two Phase 3 Trials
PHASE 3 EMROSI DEMONSTRATED SUPERIOR EFFICACY OVER ORACEA® (Efficacy) AND PLACEBO IN TWO PHASE 3 CLINICAL TRIALS Emrosi was statistically superior to IGA Treatment Success - Week 161 Inflammatory Lesion Absolute Change - Week 161 Oracea and placebo on all co-primary (Pooled Data) (Pooled Data) and s
Slide 16: EMROSI Was Successful on All Secondary Endpoints
EMROSI WAS SUCCESSFUL ON ALL SECONDARY ENDPOINTS PHASE 3 INCLUDING PERCENT CHANGE IN LESION COUNT (Efficacy) AND ERYTHEMA REDUCTION Inflammatory Lesion % Change - Week 161 Erythema Success - Week 161 Inflammatory Lesion Percent Change: (Pooled Data) (Pooled Data) Emrosi Oracea Placebo P<0.001* Emros
Slide 17: EMROSI Demonstrated Onset of Efficacy as Early as Week 2 Compared to Placebo
PHASE 3 EMROSI DEMONSTRATED ONSET OF EFFICACY (Efficacy) AS EARLY AS WEEK 2 COMPARED TO PLACEBO 1 1 • Onset of Efficacy was an exploratory endpoint in Emrosi’s Phase 3 Trials • Emrosi’s efficacy vs. placebo was significantly greater at each study visit and across both endpoints. Study design: Two id
Slide 18: Patient Results at Baseline and 16 Weeks Post Treatment
PHASE 3 PATIENT RESULTS AT BASELINE & 16 WEEKS (Efficacy) POST TREATMENT Actual patient images from Emrosi Phase 3 Clinical Trials. Photos used with permission. Results of individual patients may not be typical, as individual results may vary. 18 | © 2024 Journey Medical Corporation. All rights rese
Slide 19: Patient Results at Baseline and Weeks Post Treatment
PHASE 3 PATIENT RESULTS AT BASELINE & 16 WEEKS POST (Efficacy) TREATMENT Actual patient images from Emrosi Phase 3 Clinical Trials. Photos used with permission. Results of individual patients may not be typical, as individual results may vary. 19 | © 2024 Journey Medical Corporation. All rights rese
Slide 20: EMROSI Demonstrated a Similar Safety Profile to Placebo in Phase 3 Studies
PHASE 3 EMROSI DEMONSTRATED A SIMILAR SAFETY PROFILE (Safety) TO PLACEBO1,2 IN PHASE 3 STUDIES1 Key Treatment-Related Adverse Events (N=638) Emrosi (Minocycline, 40mg) 14% (N=243) Oracea® (Doxycycline, 40mg) 12% (N=237) Placebo 10% (N=158) % of Patients 8% The frequency of key treatment-related adve
Slide 21: EMROSI – Publication & Data Communication Plan
EMROSI – PUBLICATION & DATA COMMUNICATION PLAN • One publication and two manuscript submissions in process at leading peer-reviewed journals, covering the following topics: • ✓ Safety & Efficacy vs. Placebo & Oracea for Lesions & Erythema (published in JAMA Dermatology; March 5, 2025) • Microbiology
Slide 22: Majority of High Prescribers Surveyed Believe EMROSI Is Extremely Valuable
MAJORITY OF HIGH PRESCRIBERS FOR ROSACEA SURVEYED BELIEVE EMROSI IS “EXTREMELY VALUABLE” AND 74% STATED THEY ARE “VERY LIKELY” TO PRESCRIBE Dermatology Provider’s Perceptions of Emrosi 40% 70% 74% 88% of HCPs ranked Head-to-Head of HCPs report a “very of HCPs perceive Emrosi of HCPs are “Very superi
Slide 23: EMROSI Has Superior Efficacy to Market Leader Oracea, Which Had 2024 Sales of $311 Million
EMROSI HAS SUPERIOR EFFICACY TO THE MARKET LEADER ORACEA, WHICH HAD 2024 SALES OF $311 MILLION STRATEGIC RATIONALE • Robust clinical data demonstrating superior efficacy over Oracea with a placebo-like safety profile ESTIMATED U.S. ROSACEA PATIENTS (2024) • Efficacy is the primary driver for physici
Slide 24: Sales Force Covers the Vast Majority of Oral Rosacea Prescriptions in Dermatology
JOURNEY MEDICAL’S SALES FORCE COVER THE VAST MAJORITY OF ORAL ROSACEA PRESCRIPTIONS IN DERMATOLOGY 94% of Oral Rosacea 83% of Oral Rosacea TRx are written in Derm TRx will be Dermatology covered at launch (based on IQVIA 2024 TRx) (based on IQVIA 2024 TRx) 24 | © 2025 Journey Medical Corporation. Al
Slide 25: EMROSI Key Takeaways
EMROSI KEY TAKEAWAYS EMROSI is the best-in-class oral therapy for inflammatory lesions of rosacea and is expected to become the new standard of care in rosacea therapy 1. Head-to-head superiority over Oracea® demonstrated in two Phase 3 trials 2. Treatment results in as little as 2 weeks 3. Demonstr
Slide 26: Business Development Strategy
BUSINESS DEVELOPMENT STRATEGY 3. STRATEGIC INVESTMENT IN LATE-STAGE, PHASE 3 READY ASSETS Recent approval of Emrosi and strong synergies with Fortress Biotech • Emrosi has potential to exceed annual sales of $200M in the U.S., plus additional revenue through global out-licensing opportunities 2. GRO
Slide 27: Corporate Priorities and Objectives in 2025
CORPORATE PRIORITIES AND OBJECTIVES IN 2025 ✓ EMROSI launch and TRx demand curve ✓ Progress with payers and ramp up in covered lives with health plan access to EMROSI ✓ Advance business toward sustainable positive EBITDA and profitability ✓ Additional peer-reviewed journal articles and conference po
Slide 28: NASDAQ: DERM
@URNEY MEDICAL CORPORATION NASDAQ: DERM Gin amzeeq Gu ACCUTANE topical foam, 4% (Isotretinoin Capsules USP) _Qbrexza onium) cic NDC 69489-151-30 R ~ emrosl (minocycline hydrochloride) extended-release capsules ammeter 40mg) erongetendtreles RxOnly 30 Capsul ‘ra soo, "xfer epncraimi ‘cng aly