The following is a summary of the Journey Medical Corporation (DERM) Q1 2024 Earnings Call Transcript:
Financial Performance:
Journey Medical reported Q1 revenue of $13 million, a 7% increase year-over-year, with Qbrexza and Accutane contributing over $10.8 million. The company realized significant reduction in SG&A expenses and achieved profitability in Q1. Over 90% of the company's revenue comes from Qbrexza, Accutane, Amzeeq, and Zilxi. The company's cash resources reached $24.1 million at the end of Q1 2024.
Business Progress:
Qbrexza and Accutane gained market share, expected to drive growth throughout 2024. Journey Medical is preparing to launch DFD-29 for Rosacea treatment following positive Phase 3 trial results. The FDA has accepted the new drug application for DFD-29, with a planned date in November. The company is exploring opportunities to out-license its IP and acquire or in-license FDA-approved products. The company expects net revenues in the range of $55 to $60 million by the year-end.
More details: Journey Medical IR
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.