$DERM
Journey Medical Corp

2021 Q4 Form 10-K Financial Statement

#000141057822000558 Filed on March 28, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $17.52M $63.13M $44.53M
YoY Change -60.66% 41.78%
Cost Of Revenue $9.525M $32.08M $14.59M
YoY Change -34.73% 119.84%
Gross Profit $7.992M $31.05M $29.94M
YoY Change -73.3% 3.72%
Gross Profit Margin 45.62% 49.18% 67.23%
Selling, General & Admin $15.06M $39.83M $22.08M
YoY Change -31.81% 80.35%
% of Gross Profit 188.4% 128.29% 73.76%
Research & Development $1.992M $2.739M
YoY Change
% of Gross Profit 24.92% 8.82%
Depreciation & Amortization $0.00 $0.00 $5.000K
YoY Change -100.0% -100.0%
% of Gross Profit 0.0% 0.0% 0.02%
Operating Expenses $17.05M $42.57M $22.09M
YoY Change -22.81% 92.76%
Operating Profit -$9.057M -$34.88M $7.851M
YoY Change -215.36% -544.29%
Interest Expense -$4.096M $7.034M -$698.0K
YoY Change 486.82% 907.74%
% of Operating Profit -8.89%
Other Income/Expense, Net -$263.0K -$7.479M
YoY Change 971.49%
Pretax Income -$13.42M -$42.36M $7.153M
YoY Change -287.56% -692.2%
Income Tax $8.335M $1.634M $1.870M
% Of Pretax Income 26.14%
Net Earnings -$21.75M -$43.99M $5.283M
YoY Change -511.72% -932.75%
Net Earnings / Revenue -124.17% -69.68% 11.86%
Basic Earnings Per Share -$4.32
Diluted Earnings Per Share -$1.638M -$4.32 $321.3K
COMMON SHARES
Basic Shares Outstanding 10.19M
Diluted Shares Outstanding 10.19M

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $49.08M $49.08M
YoY Change 494.91%
Cash & Equivalents $49.10M $8.200M
Short-Term Investments
Other Short-Term Assets $2.438M $2.440M
YoY Change 46.99%
Inventory $9.862M $9.860M $1.404M
Prepaid Expenses
Receivables $23.11M $23.11M $23.93M
Other Receivables $0.00 $0.00
Total Short-Term Assets $84.49M $84.49M $35.24M
YoY Change 139.75% 139.76%
LONG-TERM ASSETS
Property, Plant & Equipment $89.00K $90.00K
YoY Change -50.0%
Goodwill
YoY Change
Intangibles $12.55M $15.03M
YoY Change -16.48%
Long-Term Investments
YoY Change
Other Assets $150.0K $150.0K $6.000K
YoY Change 2400.0% -89.73%
Total Long-Term Assets $12.79M $12.79M $16.66M
YoY Change -23.24% -23.28%
TOTAL ASSETS
Total Short-Term Assets $84.49M $84.49M $35.24M
Total Long-Term Assets $12.79M $12.79M $16.66M
Total Assets $97.28M $97.28M $51.91M
YoY Change 87.42% 87.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $22.81M $23.40M $1.839M
YoY Change 1140.46% 1093.88%
Accrued Expenses $22.73M $22.88M $21.50M
YoY Change 5.74% 6.02%
Deferred Revenue
YoY Change
Short-Term Debt $5.322M $5.320M
YoY Change 17.7%
Long-Term Debt Due $5.322M $5.300M
YoY Change 17.78%
Total Short-Term Liabilities $51.61M $51.61M $28.06M
YoY Change 83.93% 83.93%
LONG-TERM LIABILITIES
Long-Term Debt $3.627M $3.630M
YoY Change -72.83%
Other Long-Term Liabilities $8.000K $10.00K
YoY Change -95.0%
Total Long-Term Liabilities $3.635M $3.640M
YoY Change -73.16%
TOTAL LIABILITIES
Total Short-Term Liabilities $51.61M $51.61M $28.06M
Total Long-Term Liabilities $3.635M $3.640M
Total Liabilities $55.24M $55.24M $41.61M
YoY Change 32.75% 32.76%
SHAREHOLDERS EQUITY
Retained Earnings -$38.87M $5.120M
YoY Change -859.26%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $42.04M $42.04M $10.29M
YoY Change
Total Liabilities & Shareholders Equity $97.28M $97.28M $51.91M
YoY Change 87.42% 87.4%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income -$21.75M -$43.99M $5.283M
YoY Change -511.72% -932.75%
Depreciation, Depletion And Amortization $0.00 $0.00 $5.000K
YoY Change -100.0% -100.0%
Cash From Operating Activities -$3.206M -$2.181M $5.132M
YoY Change -162.47% -142.5%
INVESTING ACTIVITIES
Capital Expenditures -$1.200M -$10.00M -$1.200M
YoY Change 0.0% 733.33%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$1.200M -$10.00M -$1.200M
YoY Change 0.0% 733.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $32.54M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 31.80M 53.02M -487.0K
YoY Change -6629.36% -10986.24%
NET CHANGE
Cash From Operating Activities -3.206M -2.181M 5.132M
Cash From Investing Activities -1.200M -10.00M -1.200M
Cash From Financing Activities 31.80M 53.02M -487.0K
Net Change In Cash 27.39M 40.84M 3.445M
YoY Change 695.12% 1085.34%
FREE CASH FLOW
Cash From Operating Activities -$3.206M -$2.181M $5.132M
Capital Expenditures -$1.200M -$10.00M -$1.200M
Free Cash Flow -$2.006M $7.819M $6.332M
YoY Change -131.68% 23.48%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2021 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2021 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2021Q4 us-gaap Debt Instrument Unamortized Discount Noncurrent
DebtInstrumentUnamortizedDiscountNoncurrent
373000
CY2020Q4 us-gaap Debt Instrument Unamortized Discount Noncurrent
DebtInstrumentUnamortizedDiscountNoncurrent
863000
CY2021Q4 derm Installment Payments Licenses Net Non Current
InstallmentPaymentsLicensesNetNonCurrent
3627000
CY2020Q4 derm Installment Payments Licenses Net Non Current
InstallmentPaymentsLicensesNetNonCurrent
8137000
CY2020Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
97000
CY2020 us-gaap Net Income Loss
NetIncomeLoss
5283000
CY2021Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2020Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2021 dei Entity Central Index Key
EntityCentralIndexKey
0001867066
CY2021 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2021 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2021
CY2021 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2021 dei Amendment Flag
AmendmentFlag
false
CY2021Q4 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0
CY2021Q4 us-gaap Fair Value Liabilities Level1 To Level2 Transfers Amount
FairValueLiabilitiesLevel1ToLevel2TransfersAmount
0
CY2021Q4 us-gaap Fair Value Liabilities Level2 To Level1 Transfers Amount
FairValueLiabilitiesLevel2ToLevel1TransfersAmount
0
CY2021 us-gaap Fair Value Net Derivative Asset Liability Measured On Recurring Basis Unobservable Inputs Reconciliation Transfers Net
FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputsReconciliationTransfersNet
0
CY2021 dei Document Type
DocumentType
10-K
CY2021 dei Document Annual Report
DocumentAnnualReport
true
CY2021 dei Document Period End Date
DocumentPeriodEndDate
2021-12-31
CY2021 dei Document Transition Report
DocumentTransitionReport
false
CY2021 dei Entity File Number
EntityFileNumber
001-41063
CY2021 dei Entity Registrant Name
EntityRegistrantName
JOURNEY MEDICAL CORPORATION
CY2021 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
CY2021 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
47-1879539
CY2021 dei Entity Address Address Line1
EntityAddressAddressLine1
9237 E Via de Ventura Blvd
CY2021 dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 105
CY2021 dei Entity Address City Or Town
EntityAddressCityOrTown
Scottsdale
CY2021 dei Entity Address State Or Province
EntityAddressStateOrProvince
AZ
CY2021 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
85258
CY2021 dei City Area Code
CityAreaCode
781
CY2021 dei Local Phone Number
LocalPhoneNumber
652-4500
CY2021 dei Security12b Title
Security12bTitle
Common Stock, par value $0.0001 per share
CY2021 dei Trading Symbol
TradingSymbol
DERM
CY2021 dei Security Exchange Name
SecurityExchangeName
NASDAQ
CY2021 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2021 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2021 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2021 dei Entity Small Business
EntitySmallBusiness
true
CY2021 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
CY2021 dei Entity Ex Transition Period
EntityExTransitionPeriod
false
CY2021 dei Icfr Auditor Attestation Flag
IcfrAuditorAttestationFlag
false
CY2021 dei Entity Shell Company
EntityShellCompany
false
CY2021Q2 dei Entity Public Float
EntityPublicFloat
31947000
CY2021 dei Auditor Name
AuditorName
KPMG LLP
CY2021 dei Auditor Location
AuditorLocation
Short Hills, New Jersey
CY2021 dei Auditor Firm
AuditorFirmId
185
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
49081000
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
8246000
CY2021Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
23112000
CY2020Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
23928000
CY2021Q4 us-gaap Inventory Net
InventoryNet
9862000
CY2020Q4 us-gaap Inventory Net
InventoryNet
1404000
CY2021Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2438000
CY2020Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1664000
CY2021Q4 us-gaap Assets Current
AssetsCurrent
84493000
CY2020Q4 us-gaap Assets Current
AssetsCurrent
35242000
CY2021Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
12552000
CY2020Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
15029000
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
89000
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
175000
CY2020Q4 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
1454000
CY2021Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
150000
CY2020Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
6000
CY2021Q4 us-gaap Assets
Assets
97284000
CY2020Q4 us-gaap Assets
Assets
51906000
CY2021Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
22812000
CY2020Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
1839000
CY2021Q4 us-gaap Accounts Payable Related Parties Current
AccountsPayableRelatedPartiesCurrent
589000
CY2020Q4 us-gaap Accounts Payable Related Parties Current
AccountsPayableRelatedPartiesCurrent
117000
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
22733000
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
21498000
CY2021Q4 derm Accrued Liabilities Related Parties Current
AccruedLiabilitiesRelatedPartiesCurrent
52000
CY2021Q4 us-gaap Lines Of Credit Current
LinesOfCreditCurrent
812000
CY2021Q4 us-gaap Debt Instrument Unamortized Discount Current
DebtInstrumentUnamortizedDiscountCurrent
490000
CY2020Q4 us-gaap Debt Instrument Unamortized Discount Current
DebtInstrumentUnamortizedDiscountCurrent
778000
CY2021Q4 derm Installment Payments Licenses Net Current
InstallmentPaymentsLicensesNetCurrent
4510000
CY2020Q4 derm Installment Payments Licenses Net Current
InstallmentPaymentsLicensesNetCurrent
4522000
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
98000
CY2020Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
85000
CY2021Q4 us-gaap Liabilities Current
LiabilitiesCurrent
51606000
CY2020Q4 us-gaap Liabilities Current
LiabilitiesCurrent
28061000
CY2021Q4 us-gaap Accrued Income Taxes Noncurrent
AccruedIncomeTaxesNoncurrent
8000
CY2020Q4 us-gaap Accrued Income Taxes Noncurrent
AccruedIncomeTaxesNoncurrent
99000
CY2020Q4 us-gaap Notes Payable Related Parties Noncurrent
NotesPayableRelatedPartiesNoncurrent
5220000
CY2021Q4 us-gaap Liabilities
Liabilities
55241000
CY2020Q4 us-gaap Liabilities
Liabilities
41614000
CY2020Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2020Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000
CY2021Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000
CY2021Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
80915000
CY2020Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
5171000
CY2021Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-38874000
CY2020Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
5120000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
42043000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
10292000
CY2021Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
97284000
CY2020Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
51906000
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
63134000
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
44531000
CY2021 us-gaap Cost Of Revenue
CostOfRevenue
32084000
CY2020 us-gaap Cost Of Revenue
CostOfRevenue
14594000
CY2021 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2739000
CY2021 derm Research And Development Expense Related To Licenses Acquired
ResearchAndDevelopmentExpenseRelatedToLicensesAcquired
13819000
CY2021 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
39833000
CY2020 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
22086000
CY2021 derm Wire Transfer Fraud Loss
WireTransferFraudLoss
9540000
CY2021 us-gaap Costs And Expenses
CostsAndExpenses
98015000
CY2020 us-gaap Costs And Expenses
CostsAndExpenses
36680000
CY2021 us-gaap Operating Income Loss
OperatingIncomeLoss
-34881000
CY2020 us-gaap Operating Income Loss
OperatingIncomeLoss
7851000
CY2021 derm Interest Income
InterestIncome
2000
CY2021 us-gaap Interest Expense
InterestExpense
7034000
CY2020 us-gaap Interest Expense
InterestExpense
698000
CY2021 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-447000
CY2021 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-7479000
CY2020 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-698000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-42360000
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
7153000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1634000
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1870000
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-43994000
CY2020 us-gaap Net Income Loss
NetIncomeLoss
5283000
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-4.32
CY2020 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.58
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-4.32
CY2020 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.49
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10189844
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9135985
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10189844
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10836122
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
2752000
CY2020 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
153000
CY2020 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
13000
CY2020 derm Adjustments To Additional Paid In Capital Extinguishment Of Related Party Payable
AdjustmentsToAdditionalPaidInCapitalExtinguishmentOfRelatedPartyPayable
2091000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
10292000
CY2021 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2466000
CY2021 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
7000
CY2021 derm Sale Of Stock Stock Issuance Costs
SaleOfStockStockIssuanceCosts
1921000000
CY2021 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
30615000
CY2021 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
21812000
CY2021 derm Stock Issued During Period Value Conversion Of Debt
StockIssuedDuringPeriodValueConversionOfDebt
16105000
CY2021 derm Adjustments To Additional Paid In Capital Extinguishment Of Related Party Payable
AdjustmentsToAdditionalPaidInCapitalExtinguishmentOfRelatedPartyPayable
112000
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-43994000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
42043000
CY2021 us-gaap Profit Loss
ProfitLoss
-43994000
CY2020 us-gaap Profit Loss
ProfitLoss
5283000
CY2021 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
0
CY2020 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
5000
CY2021 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
48000
CY2020 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
49000
CY2021 us-gaap Paid In Kind Interest
PaidInKindInterest
781000
CY2020 us-gaap Paid In Kind Interest
PaidInKindInterest
698000
CY2021 us-gaap Preferred Stock Accretion Of Redemption Discount
PreferredStockAccretionOfRedemptionDiscount
2845000
CY2020 us-gaap Preferred Stock Accretion Of Redemption Discount
PreferredStockAccretionOfRedemptionDiscount
0
CY2021 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
2572000
CY2020 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
0
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2474000
CY2020 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1420000
CY2021 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
86000
CY2020 us-gaap Operating Lease Right Of Use Asset Amortization Expense
OperatingLeaseRightOfUseAssetAmortizationExpense
91000
CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
2466000
CY2020 us-gaap Share Based Compensation
ShareBasedCompensation
153000
CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
1566000
CY2020 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-335000
CY2021 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-447000
CY2020 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
0
CY2021 derm Research And Development Expense Related To Licenses Acquired
ResearchAndDevelopmentExpenseRelatedToLicensesAcquired
13819000
CY2020 derm Research And Development Expense Related To Licenses Acquired
ResearchAndDevelopmentExpenseRelatedToLicensesAcquired
0
CY2021 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-768000
CY2020 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
5022000
CY2021 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
8458000
CY2020 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
547000
CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
774000
CY2020 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1009000
CY2021 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
144000
CY2020 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
0
CY2021 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
20388000
CY2020 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-204000
CY2021 derm Increase Decrease In Account Payable Related Party
IncreaseDecreaseInAccountPayableRelatedParty
1325000
CY2020 derm Increase Decrease In Account Payable Related Party
IncreaseDecreaseInAccountPayableRelatedParty
52000
CY2021 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
1235000
CY2020 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
2390000
CY2021 derm Increase Decrease In Accrued Expenses Related Parties
IncreaseDecreaseInAccruedExpensesRelatedParties
-544000
CY2020 derm Increase Decrease In Accrued Expenses Related Parties
IncreaseDecreaseInAccruedExpensesRelatedParties
0
CY2021 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
-91000
CY2020 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
2191000
CY2021 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-84000
CY2020 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-83000
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2181000
CY2020 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
5132000
CY2021 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
10000000
CY2020 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
1200000
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-10000000
CY2020 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1200000
CY2021 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
7000
CY2020 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
13000
CY2021 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
9540000
CY2021 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
5300000
CY2020 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
500000
CY2021 us-gaap Proceeds From Issuance Of Redeemable Convertible Preferred Stock
ProceedsFromIssuanceOfRedeemableConvertiblePreferredStock
18967000
CY2020 us-gaap Proceeds From Issuance Of Redeemable Convertible Preferred Stock
ProceedsFromIssuanceOfRedeemableConvertiblePreferredStock
0
CY2021 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
1996000
CY2020 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0
CY2021 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
7000000
CY2021 us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
6188000
CY2021 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
32536000
CY2021 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
1550000
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
53016000
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-487000
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
40835000
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
3445000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8246000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4801000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
49081000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8246000
CY2021 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
158000
CY2020 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
110000
CY2021 us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
214000
CY2020 us-gaap Debt Issuance Costs Incurred During Noncash Or Partial Noncash Transaction
DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction
0
CY2021 derm Accrued Stock Issuance Costs
AccruedStockIssuanceCosts
371000
CY2021 us-gaap Liabilities Assumed1
LiabilitiesAssumed1
362000
CY2021 us-gaap Stock Issued1
StockIssued1
21812000
CY2021 derm Conversion Of Debt To Common Stock
ConversionOfDebtToCommonStock
16105000
CY2021 derm Conversion Of Placement Agent Warrants To Common Stock
ConversionOfPlacementAgentWarrantsToCommonStock
948000
CY2021 derm Conversion Of Contingent Payment Warrants To Common Stock
ConversionOfContingentPaymentWarrantsToCommonStock
3680000
CY2021 derm Extinguishment Of Related Party Payable Relates To Deferred Tax Assets
ExtinguishmentOfRelatedPartyPayableRelatesToDeferredTaxAssets
43000
CY2020 derm Extinguishment Of Related Party Payable Relates To Deferred Tax Assets
ExtinguishmentOfRelatedPartyPayableRelatesToDeferredTaxAssets
2091000
CY2021 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
0
CY2020 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
7872000
CY2021 us-gaap Nature Of Operations
NatureOfOperations
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">NOTE 1. ORGANIZATION AND PLAN OF BUSINESS OPERATIONS</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">Journey Medical Corporation (collectively “Journey” or the “Company”) was formed on July 18, 2014. The Company is a commercial-stage pharmaceutical company that focuses on the development and commercialization of pharmaceutical products for the treatment of dermatological conditions. The Company’s product portfolio at December31, 2021 includes five branded and three authorized generic prescription drugs for dermatological conditions that are marketed in the U.S. The Company acquires rights to future products by licensing or otherwise acquiring an ownership interest in, funding the research and development of, and eventually commercializing, the products through their exclusive field sales organization.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">As of December 31, 2021 and 2020, the Company is a majority-owned subsidiary of Fortress Biotech, Inc. (“Fortress” or “Parent”).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Liquidity and Capital Resources</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">At December 31, 2021, the Company had $49.1 million in cash and cash equivalents as compared to $8.2 million at December 31, 2020.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">On November 16, 2021, the Company completed an initial public offering (collectively the “Journey IPO” or “IPO”) of its common stock, which resulted in net proceeds of approximately $30.6 million, after deducting underwriting discounts and other offering costs.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">Prior the Company’s IPO, the Company’s operations were primarily financed through a working capital note from Fortress, referred to herein as the “Fortress Note,” cash generated by operations and cash raised in the Company’s private offering of 8% Cumulative Convertible Class A Preferred Stock (“Class A Preferred Stock”). In connection with the closing of the Company’s IPO on November 16, 2021, the Company issued 2,231,346 shares of common stock resulting from the conversion of all of the Class A Preferred Stock. In addition, the Fortress Note was converted into 1,610,467 shares of Journey common stock at the Journey IPO price of $10.00 per share. The Company also has access to a borrowing facility, which includes a working capital line of credit and a term loan. For the next twelve months from the issuance of these audited consolidated financial statements, the Company will be able to fund its operations through a combination of operating activities and the East West Bank borrowing facility. In January 2022 the Company borrowed $15 million against the term loan to facilitate the VYNE asset purchase. See Note 18, Subsequent Events, for further details.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The Company regularly evaluates market conditions, its liquidity profile, and various financing alternatives for opportunities to enhance its capital structure. The Company may seek to raise capital through debt or equity financings to expand its product portfolio. If such funding is not available or not available on terms acceptable to the Company, the Company’s current plans for expansion of its product portfolio will be curtailed.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">In addition to the foregoing, the Company experienced minimal impact on revenue levels and its liquidity due to the worldwide spread of COVID-19.</p>
CY2021 derm Product Portfolio Number Of Branded Drugs
ProductPortfolioNumberOfBrandedDrugs
5
CY2021 derm Product Portfolio Number Of Authorized Generic Prescription Drugs
ProductPortfolioNumberOfAuthorizedGenericPrescriptionDrugs
3
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
49100000
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
8200000
CY2021 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Significant estimates made by management include provisions for product returns, coupons, rebates, chargebacks, discounts, allowances and distribution fees paid to certain wholesalers, inventory realization, useful lives of amortizable intangible assets, fair value of stock options and warrants, stock-based compensation, accrued expenses, provisions for income taxes and contingencies. Actual results may differ materially and adversely from these estimates. To the extent there are material differences between the estimates and actual results, the Company’s future results of operations will be affected.</p>
CY2021 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2020 us-gaap Provision For Other Credit Losses
ProvisionForOtherCreditLosses
100000
CY2021 us-gaap Provision For Other Credit Losses
ProvisionForOtherCreditLosses
100000
CY2021 us-gaap Increase Decrease In Finished Goods And Work In Process Inventories
IncreaseDecreaseInFinishedGoodsAndWorkInProcessInventories
6500000
CY2021 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Concentrations of Credit Risk</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">Financial instruments that potentially subject the Company to significant concentration of credit risk consist primarily of cash. Periodically, the Company may maintain deposits in financial institutions in excess of government insured limits. Management believes that the Company is not exposed to significant credit risk as the Company’s deposits are held at financial institutions that management believes to be of high credit quality. The Company has not experienced any losses on these deposits.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The Company’s accounts receivable primarily represent amounts due from drug wholesalers and specialty pharmacies in the United States. The Company performs periodic credit evaluations of customers and does not require collateral. An allowance for doubtful accounts is maintained for potential credit losses based on the aging of accounts receivable, historical bad debts experience, and the customer’s current ability to pay its obligations to the Company. Accounts receivables balances are written off against the allowance when it is probable that the receivable will not be collected. See Note 15 for significant customers.</p>
CY2021 derm Prompt Payment Discount Days
PromptPaymentDiscountDays
1
CY2021 derm Percentage Of Product Revenues Sold Through Specialty Pharmacy Channel
PercentageOfProductRevenuesSoldThroughSpecialtyPharmacyChannel
0.85
CY2021 derm Options Granted
OptionsGranted
P10Y
CY2021 derm Percentage Of Tax Positions Interest Rate
PercentageOfTaxPositionsInterestRate
0.50
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2021 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0
CY2021Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
5572000
CY2021Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
4290000
CY2020Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1404000
CY2021Q4 us-gaap Inventory Net
InventoryNet
9862000
CY2020Q4 us-gaap Inventory Net
InventoryNet
1404000
CY2021 us-gaap Increase Decrease In Finished Goods And Work In Process Inventories
IncreaseDecreaseInFinishedGoodsAndWorkInProcessInventories
6500000
CY2021 derm Renewable Mutual Agreement Term
RenewableMutualAgreementTerm
P10Y
CY2021 derm Termination Written Notice Period To Other Party
TerminationWrittenNoticePeriodToOtherParty
P180D
CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
19003000
CY2020Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
19006000
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
6451000
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
3977000
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
12552000
CY2020Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
15029000
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2500000
CY2020 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1400000
CY2019Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
7377000
CY2020 us-gaap Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
4727000
CY2020 us-gaap Finite Lived Intangible Assets Purchase Accounting Adjustments
FiniteLivedIntangibleAssetsPurchaseAccountingAdjustments
-3945000
CY2020 derm Finite Lived Intangible Assets Acquired Milestone Payments
FiniteLivedIntangibleAssetsAcquiredMilestonePayments
-400000
CY2020 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1420000
CY2020Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
15029000
CY2021 us-gaap Finite Lived Intangible Assets Purchase Accounting Adjustments
FiniteLivedIntangibleAssetsPurchaseAccountingAdjustments
3000
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2474000
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
12552000
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
1965000
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
1964000
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
1965000
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
1964000
CY2021Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
752000
CY2021Q4 derm Finite Lived Intangible Assets Excluding Assets Not Yet Placed In Service
FiniteLivedIntangibleAssetsExcludingAssetsNotYetPlacedInService
8610000
CY2021Q4 derm Finite Lived Intangible Assets Not Yet Placed In Service
FiniteLivedIntangibleAssetsNotYetPlacedInService
3942000
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
12552000
CY2021Q4 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
89000
CY2020 us-gaap Operating Lease Cost
OperatingLeaseCost
94000
CY2021 us-gaap Variable Lease Cost
VariableLeaseCost
4000
CY2020 us-gaap Variable Lease Cost
VariableLeaseCost
6000
CY2021 us-gaap Lease Cost
LeaseCost
93000
CY2020 us-gaap Lease Cost
LeaseCost
100000
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
91000
CY2020 us-gaap Operating Lease Payments
OperatingLeasePayments
86000
CY2021Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
2702000
CY2020Q4 us-gaap Accrued Employee Benefits Current
AccruedEmployeeBenefitsCurrent
2041000
CY2021Q4 derm Accrued Research And Development License Fees Current
AccruedResearchAndDevelopmentLicenseFeesCurrent
870000
CY2021Q4 us-gaap Accrued Royalties Current
AccruedRoyaltiesCurrent
3833000
CY2020Q4 us-gaap Accrued Royalties Current
AccruedRoyaltiesCurrent
2682000
CY2021Q4 derm Accrued Coupon And Rebates Current
AccruedCouponAndRebatesCurrent
10603000
CY2020Q4 derm Accrued Coupon And Rebates Current
AccruedCouponAndRebatesCurrent
12869000
CY2021Q4 derm Accrued Reserve For Product Returns Current
AccruedReserveForProductReturnsCurrent
3240000
CY2020Q4 derm Accrued Reserve For Product Returns Current
AccruedReserveForProductReturnsCurrent
2580000
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1485000
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1326000
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
22733000
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
21498000
CY2021Q4 derm Installment Payments Licenses Gross Current
InstallmentPaymentsLicensesGrossCurrent
5000000
CY2021Q4 derm Imputed Interest On Current License Payment
ImputedInterestOnCurrentLicensePayment
490000
CY2021Q4 derm Installment Payments Licenses Net Current
InstallmentPaymentsLicensesNetCurrent
4510000
CY2021Q4 derm Installment Payments Licenses Gross Non Current
InstallmentPaymentsLicensesGrossNonCurrent
4000000
CY2021Q4 derm Imputed Interest On Non Current License Payment
ImputedInterestOnNonCurrentLicensePayment
373000
CY2021Q4 derm Installment Payments Licenses Net Non Current
InstallmentPaymentsLicensesNetNonCurrent
3627000
CY2021Q4 derm License Collaboration And Assignment Agreement Second Installment Payable
LicenseCollaborationAndAssignmentAgreementSecondInstallmentPayable
8137000
CY2020Q4 derm Installment Payments Licenses Gross Current
InstallmentPaymentsLicensesGrossCurrent
5300000
CY2020Q4 derm Imputed Interest On Current License Payment
ImputedInterestOnCurrentLicensePayment
778000
CY2020Q4 derm Installment Payments Licenses Net Current
InstallmentPaymentsLicensesNetCurrent
4522000
CY2020Q4 derm Installment Payments Licenses Gross Non Current
InstallmentPaymentsLicensesGrossNonCurrent
9000000
CY2020Q4 derm Imputed Interest On Non Current License Payment
ImputedInterestOnNonCurrentLicensePayment
863000
CY2020Q4 derm Installment Payments Licenses Net Non Current
InstallmentPaymentsLicensesNetNonCurrent
8137000
CY2020Q4 derm License Collaboration And Assignment Agreement Second Installment Payable
LicenseCollaborationAndAssignmentAgreementSecondInstallmentPayable
12659000
CY2021Q4 derm Area Of Property Under Lease
AreaOfPropertyUnderLease
3681
CY2020Q3 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P25M
CY2020Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
100000
CY2020 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
182000
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y6M
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.040
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.050
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
100000
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
100000
CY2021Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2000
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
98000
CY2021 derm Interest Expense And Fees On Convertible Preferred Shares
InterestExpenseAndFeesOnConvertiblePreferredShares
5417000
CY2021 us-gaap Dividends
Dividends
820000
CY2021 derm Interest Expense Licenses Installments Payments
InterestExpenseLicensesInstallmentsPayments
724000
CY2020 derm Interest Expense Licenses Installments Payments
InterestExpenseLicensesInstallmentsPayments
696000
CY2021 us-gaap Line Of Credit Facility Periodic Payment Interest
LineOfCreditFacilityPeriodicPaymentInterest
16000
CY2021 derm Interest Expense And Financing Fee
InterestExpenseAndFinancingFee
7034000
CY2020 derm Interest Expense And Financing Fee
InterestExpenseAndFinancingFee
698000
CY2021 derm Convertible Preferred Shares Conversion Premium Discount Rate
ConvertiblePreferredSharesConversionPremiumDiscountRate
0.15
CY2021Q4 derm Convertible Preferred Stock Settlement Amount
ConvertiblePreferredStockSettlementAmount
14800000
CY2021Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2021 derm Common Stock Number Of Votes Per Share
CommonStockNumberOfVotesPerShare
1
CY2021Q4 derm Common Stock Voting Rights Ratio
CommonStockVotingRightsRatio
1.1
CY2021Q1 derm Preferred Stock Convertible Percentage Of Discount On Share Price
PreferredStockConvertiblePercentageOfDiscountOnSharePrice
0.075
CY2021Q1 derm Preferred Stock Convertible Number Of Trading Days Prior To Exchange
PreferredStockConvertibleNumberOfTradingDaysPriorToExchange
P10D
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
5916970
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y8M23D
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
29428
CY2020Q4 derm Share Based Compensation Arrangement By Share Based Payment Award Options Forfeited In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeitedInPeriodTotalIntrinsicValue
325539
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
63134000
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
44531000
CY2020 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
1669000
CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
67000
CY2020 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
536000
CY2021 us-gaap Current Federal State And Local Tax Expense Benefit
CurrentFederalStateAndLocalTaxExpenseBenefit
67000
CY2020 us-gaap Current Federal State And Local Tax Expense Benefit
CurrentFederalStateAndLocalTaxExpenseBenefit
2205000
CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-7829000
CY2020 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-234000
CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-1474000
CY2020 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-101000
CY2021 us-gaap Deferred Federal State And Local Tax Expense Benefit
DeferredFederalStateAndLocalTaxExpenseBenefit
-9303000
CY2020 us-gaap Deferred Federal State And Local Tax Expense Benefit
DeferredFederalStateAndLocalTaxExpenseBenefit
-335000
CY2021 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
-10870000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1634000
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1870000
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
3113000
CY2020Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
5000
CY2021Q4 derm Deferred Tax Assets Amortization Of License Fees
DeferredTaxAssetsAmortizationOfLicenseFees
4760000
CY2020Q4 derm Deferred Tax Assets Amortization Of License Fees
DeferredTaxAssetsAmortizationOfLicenseFees
1086000
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
667000
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
113000
CY2021Q4 derm Deferred Tax Assets Lease Liability
DeferredTaxAssetsLeaseLiability
25000
CY2020Q4 derm Deferred Tax Assets Lease Liability
DeferredTaxAssetsLeaseLiability
48000
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Returns And Allowances
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsReturnsAndAllowances
3573000
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Returns And Allowances
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsReturnsAndAllowances
765000
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Other
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsOther
505000
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Other
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsOther
248000
CY2021Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards
DeferredTaxAssetsTaxCreditCarryforwards
193000
CY2021Q4 us-gaap Deferred Tax Asset Interest Carryforward
DeferredTaxAssetInterestCarryforward
41000
CY2021Q4 us-gaap Deferred Tax Assets State Taxes
DeferredTaxAssetsStateTaxes
12000
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
12889000
CY2020Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
2265000
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
10870000
CY2021Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
2019000
CY2020Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
2265000
CY2021Q4 derm Deferred Tax Liabilities Return And Allowances
DeferredTaxLiabilitiesReturnAndAllowances
1996000
CY2020Q4 derm Deferred Tax Liabilities Return And Allowances
DeferredTaxLiabilitiesReturnAndAllowances
765000
CY2021Q4 derm Deferred Tax Liabilities Right Of Use Asset
DeferredTaxLiabilitiesRightOfUseAsset
23000
CY2020Q4 derm Deferred Tax Liabilities Right Of Use Asset
DeferredTaxLiabilitiesRightOfUseAsset
46000
CY2020Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
1454000
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.04
CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.06
CY2021 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
-0.05
CY2020 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
0
CY2021 derm Effective Income Tax Rate Reconciliation Provision To Return Percent
EffectiveIncomeTaxRateReconciliationProvisionToReturnPercent
0
CY2020 derm Effective Income Tax Rate Reconciliation Provision To Return Percent
EffectiveIncomeTaxRateReconciliationProvisionToReturnPercent
0
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0
CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
-0.01
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.26
CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0
CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.02
CY2020 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0
CY2021 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.04
CY2020 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.26
CY2020 us-gaap Net Income Loss
NetIncomeLoss
5283000
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
9135985
CY2020 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1700137
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
10836122
CY2020 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.58
CY2020 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.49

Files In Submission

Name View Source Status
0001410578-22-000558-index-headers.html Edgar Link pending
0001410578-22-000558-index.html Edgar Link pending
0001410578-22-000558.txt Edgar Link pending
0001410578-22-000558-xbrl.zip Edgar Link pending
derm-20211231.xsd Edgar Link pending
derm-20211231x10k.htm Edgar Link pending
derm-20211231x10k_htm.xml Edgar Link completed
derm-20211231xex10d6.htm Edgar Link pending
derm-20211231xex21d1.htm Edgar Link pending
derm-20211231xex31d1.htm Edgar Link pending
derm-20211231xex31d2.htm Edgar Link pending
derm-20211231xex32d1.htm Edgar Link pending
derm-20211231xex32d2.htm Edgar Link pending
derm-20211231xex3d1.htm Edgar Link pending
derm-20211231xex3d2.htm Edgar Link pending
derm-20211231xex4d2.htm Edgar Link pending
derm-20211231_cal.xml Edgar Link unprocessable
derm-20211231_def.xml Edgar Link unprocessable
derm-20211231_lab.xml Edgar Link unprocessable
derm-20211231_pre.xml Edgar Link unprocessable
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R57.htm Edgar Link pending
R58.htm Edgar Link pending
R59.htm Edgar Link pending
R6.htm Edgar Link pending
R60.htm Edgar Link pending
R61.htm Edgar Link pending
R62.htm Edgar Link pending
R63.htm Edgar Link pending
R64.htm Edgar Link pending
R65.htm Edgar Link pending
R66.htm Edgar Link pending
R67.htm Edgar Link pending
R68.htm Edgar Link pending
R69.htm Edgar Link pending
R7.htm Edgar Link pending
R70.htm Edgar Link pending
R71.htm Edgar Link pending
R72.htm Edgar Link pending
R73.htm Edgar Link pending
R74.htm Edgar Link pending
R75.htm Edgar Link pending
R76.htm Edgar Link pending
R77.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending