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Journey Medical (TASE:BLWV) Corp (NASDAQ:DERM) President and CEO Claude Maraoui recently sold a substantial number of shares in the company, according to a recent SEC filing. On March 6 and March 7, Maraoui sold a total of 40,456 shares, generating approximately $203,451. The shares were sold at prices ranging from $5.01 to $5.04 per share. The transaction comes as the stock has gained nearly 28% year-to-date, though InvestingPro analysis indicates the company is currently trading above its Fair Value.
The transactions were conducted automatically to satisfy tax withholding obligations related to the vesting of restricted stock units, as per the company’s policies. Following these sales, Maraoui retains ownership of 2,052,418 shares in the $107 million market cap company. With the next earnings report scheduled for March 20, investors seeking deeper insights can access comprehensive analysis through InvestingPro’s detailed research reports, which include expert analysis and key financial metrics.
In other recent news, Journey Medical Corporation announced the FDA’s approval of Emrosi™, a new treatment for moderate-to-severe papulopustular rosacea in adults. The approval follows positive results from two Phase 3 clinical trials, which demonstrated that Emrosi™ met all primary and secondary endpoints. The trials showed statistical superiority over existing treatments like Oracea® and placebo. Emrosi™, a 40 mg Minocycline Hydrochloride Modified-Release Capsule, is expected to launch in early spring 2025. The treatment is administered once daily for 16 weeks and showed significant success rates in reducing inflammatory lesions. No major safety issues were reported, with the most common adverse reaction being dyspepsia. The trials, published in the Journal of the American Medical Association - Dermatology, highlight the potential impact of Emrosi™ on the estimated 16 million Americans affected by rosacea. Journey Medical Corporation, established by Fortress Biotech (NASDAQ:FBIO), Inc., continues to focus on dermatological conditions.
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