Journey Medical reports Q1 EPS (53c), consensus (23c)

Reports Q1 revenue $13M, consensus $14.1M…The Company’s non-GAAP results in the table below reflect Adjusted EBITDA of $11,000, or $0.001 per share basic and diluted, for the first quarter of 2024, compared to Adjusted EBITDA of $ 5.3M or (30c) per share basic and diluted, for the first quarter of 2023.Claude Maraoui, Journey Medical’s Co-Founder, President and Chief Executive Officer, said, “We delivered solid first quarter results with year-over-year revenue growth of 7%. These results were driven by greater than 20% year-over-year growth in our flagship products, Qbrexza and Accutane .” Mr. Maraoui continued, “Additionally, we made significant progress advancing our development program for DFD-29 . Following our positive Phase 3 clinical trial results, the FDA accepted our New Drug Application NDA in March 2024, and assigned a Prescription Drug User Fee Act ,PDUFA , goal date of November 4, 2024. We believe this is a pivotal milestone for Journey Medical, as DFD-29, if approved, represents a significant commercial opportunity for the Company. We remain focused on driving growth and profitability from our current dermatology franchise and look forward to the opportunity to launch DFD-29 to benefit patients with rosacea and to leverage our existing commercial infrastructure.”