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In a remarkable display of market confidence, Journey Medical (TASE:BLWV) Corp’s stock has surged beyond its previous 52-week high, now trading at $7.15. According to InvestingPro data, analysts see further upside potential, with price targets ranging from $9 to $11 for this $152 million market cap company. This milestone underscores a period of robust growth for the company, with the stock delivering an impressive 68.54% gain year-to-date. Investors have rallied behind Journey Medical, propelling the stock to new heights as the company continues to make significant strides in its sector. The 52-week high serves as a testament to the strong investor sentiment, though InvestingPro analysis suggests the stock may be trading above its Fair Value. InvestingPro subscribers can access 8 additional key insights and a comprehensive Pro Research Report about Journey Medical’s financial health and growth prospects.
In other recent news, Journey Medical Corp announced its financial results for the fourth quarter of 2024, reporting a net loss of $14.7 million or $0.72 per share. The company’s annual revenue for 2024 was $56.1 million, slightly below the forecast of $56.91 million. Despite these figures, Journey Medical highlighted the FDA approval of IMROCI, a new treatment for rosacea, which is anticipated to drive future growth. The company has delayed its 2025 financial guidance to assess the initial launch of IMROCI, expecting meaningful revenue starting in Q2 2025.
Journey Medical’s cash and cash equivalents stood at $20.3 million as of December 31, 2024. The company achieved a positive non-GAAP adjusted EBITDA of $800,000, reflecting some financial stability. CEO Claude Merawi expressed confidence in IMROCI becoming a major growth driver, aligning with their dermatology commercial model without needing additional sales force. Analysts from Lake Street Capital Markets and AGP showed interest in the company’s strategy for IMROCI during the earnings call, noting the potential for significant market impact.
The company also shared that it has begun shipping IMROCI inventory and has seen initial prescriptions dispensed, with commercial payer coverage now at approximately 20%. Journey Medical plans to provide updates on the ramp-up in payer coverage throughout the year. Additionally, the company is considering out-licensing opportunities for IMROCI internationally, aiming to focus on the U.S. market while exploring global partnerships.
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