Journey Medical Corp.
Journey Medical Corp. is a commercial-stage pharmaceutical company founded in October 2014 that focuses on the development and commercialization of pharmaceutical products to treat dermatological conditions. Our portfolio includes five branded and three authorized generic prescription drugs for dermatological conditions that are marketed in the U.S.
As of June 30, 2021, our major marketed products, approved by the FDA for sale in the United States, include: Qbrexza® (a medicated cloth towelette to treat primary axillary hyperhidrosis, which is excessive sweating), acquired and launched in May 2021; Accutane® (an oral isotretinoin drug to treat severe acne), licensed in July 2020 and launched in April 2021; Targadox® (an oral doxycycline drug for adjunctive therapy for severe acne), licensed in March 2015 and launched in October 2016; Ximino® (an oral minocycline drug to treat moderate to severe acne), acquired and launched in September 2019, and Exelderm® Cream and Solution (a broad-spectrum antifungal intended for topical use), acquired and launched in October 2018. We also sell three authorized generic products: doxycycline hyclate immediate release tablets, launched in May 2018; minocycline hydrocholoride extended release capsules, launched in April 2020, and sulconazole nitrate cream and solution, launched in January 2020.
Note: Journey has a seven-year operating history and anticipates remaining a majority-owned subsidiary of Fortress Biotech, Inc. (Nasdaq: FBIO) (“Fortress”) after the IPO.
(Note: Journey Medical priced its IPO on Nov. 11, 2021, at $10 – the bottom of its $10-to-$12 price range – and increased the number of shares to 3.52 million, up from 3.2 million in the prospectus, to raise $35.2 million – the exact amount of the deal’s estimated proceeds based on mid-point pricing and the original terms.)
|Address||9237 E Via de Ventura Blvd., Suite 105 Scottsdale, AZ 85258|
|View Prospectus:||Journey Medical Corp.|
|Revenues||$49.18 mil (last 12 months)|
|Net Income||$-9.07 mil (last 12 months)|
|Price range||$10.00 - $10.00|
|Est. $ Volume||$35.2 mil|
|Manager / Joint Managers||B. Riley Securities|
|CO-Managers||Roth Capital Partners|
|Expected To Trade:||11/12/2021|
|Quiet Period Expiration Date:||Available only to Subscribers|
|Lock-Up Period Expiration Date:||Available only to Subscribers|
|SCOOP Rating||Available only to Subscribers|
|Rating Change||Available only to Subscribers|