EUR/USD likely to find a peak near 1.25: UBS
SCOTTSDALE, Ariz. - Journey Medical Corporation (NASDAQ: DERM), a commercial-stage pharmaceutical company specializing in dermatological products, has announced the promotion of Ramsey Alloush to the position of Chief Operating Officer (COO), effective immediately. Alloush will also maintain his current role as General Counsel.
Claude Maraoui, President and CEO of Journey Medical, praised Alloush’s leadership and his significant contribution to the company’s growth, expressing confidence in his ability to lead strategic initiatives aimed at operational excellence and maximizing shareholder value.
Alloush joined Journey Medical in 2020 with over 15 years of experience in the legal and business sectors of the pharmaceutical industry. His expertise has been pivotal in navigating regulatory challenges, financing transactions, and corporate governance, including the company’s IPO in 2021.
The newly appointed COO expressed his commitment to advancing the company’s market position with the launch of Emrosi™, a product poised to improve dermatological care. Alloush’s background includes a tenure at Medicis Pharmaceuticals and legal work with the Securities and Exchange Commission.
Journey Medical, founded by Fortress Biotech, Inc. (NASDAQ: FBIO), markets eight FDA-approved prescription drugs for skin conditions and is preparing for the commercialization of Emrosi™. Parent company Fortress Biotech, with a market cap of $42.22 million and last twelve-month revenue of $81.5 million, is currently trading at a low revenue multiple according to InvestingPro analysis. The company files periodic reports with the U.S. Securities and Exchange Commission and is headquartered in Scottsdale, Arizona. InvestingPro data shows FBIO is currently undervalued based on its Fair Value model, with additional insights available in the comprehensive Pro Research Report covering 1,400+ US equities.
The information in this article is based on a press release statement from Journey Medical Corporation.
In other recent news, Journey Medical reported a net loss of $14.7 million for Q4 2024, with annual revenue decreasing to $56.1 million from $59.7 million in the previous year. The company is focusing on the launch of IMROCI, an FDA-approved treatment for rosacea, which they expect to drive future growth. Journey Medical has reduced its selling, general, and administrative expenses by 8% to $40.2 million, as part of its expense optimization efforts. The company is targeting a $1 billion rosacea treatment market, emphasizing IMROCI’s potential to significantly impact future revenues. Additionally, Journey Medical’s cash and cash equivalents stood at $20.3 million as of December 31, 2024. The company has delayed its 2025 financial guidance but anticipates minimal revenue from IMROCI in Q1 2025, with more substantial contributions expected in Q2. Analyst feedback during the earnings call highlighted positive initial payer responses and ongoing efforts to secure international rights for IMROCI. The company remains optimistic about achieving peak payer coverage within the next 12 to 18 months.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.