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Dec 31, 2022
Journey Medical Q4 2022 Earnings Report
Announced financial results for Q4 and full year ended December 31, 2022.
Key Takeaways
Journey Medical reported its Q4 and full year 2022 financial results, highlighting revenue growth for Qbrexza and Accutane, along with contributions from Amzeeq and Zilxi, which accounted for approximately 77% of the total revenue for the year.
Generated record total revenues of $73.7 million for the full year 2022
Completed enrollment in Phase 3 clinical program evaluating DFD-29 for the treatment of papulopustular rosacea; topline data are expected in the first half of 2023
Observed revenue growth for Qbrexza® and Accutane®
Amzeeq® and Zilxi® contributed to revenue after being acquired in January 2022
Journey Medical
Journey Medical
Forward Guidance
Journey Medical anticipates continued revenue growth from key products and achieving clinical milestones in Phase 3 clinical trials evaluating DFD-29 for rosacea.
Positive Outlook
- Continued revenue growth from key products
- Top-line data read out from the DFD-29 Phase 3 clinical trials in the second quarter of 2023
- File a New Drug Application (“NDA”) in the second half of 2023
- Focus on identifying, acquiring, developing and strategically commercializing innovative, differentiated dermatology products
- Efficient sales and marketing model
Challenges Ahead
- Impact of generic competition on Targadox® brand
- Supply chain issues for Ximino® and Exelderm®
- Risks relating to growth strategy
- Dependence on third-party suppliers
- Potential recovery of funds lost from previously disclosed cyber security breaches