Journey Medical Corporation is a medical company that manufactures various topical and internal use products to combat skin diseases. Its products are Qbrexza, designed for those suffering from axillary hyperhidrosis; Targadox and Ximino, acne treatment capsules; Exelderm, anti-acne cream. Today’s news of the acquisition didn’t affect the stock price of this company in any way. The current worth is no different from the price before the last close of the trading session. However, the weekly growth is 15%. On January 12, Journey Medical’s purchase deals were made at $6.05, after which the price declined.
According to the latest news, Journey Medical is acquiring the Molecule Stabilizing Technology (MST) franchise from VYNE Therapeutics, along with its FDA-approved AMZEEQ and ZILXI skincare products, as well as FCD105, which is in development, for $20 million upfront and $5 million post-closing. Depending on profits and net sales, the company will pay up to $450 million from time to time. In the 3rd quarter of last year, sales of two FDA-approved products totaled 4M US dollars. The difference between AMZEEQ and ZILXI is that the former is for the treatment of severe acne in children aged 9 years and older, and the latter is for the treatment of chronic inflammatory dermatosis in adults.