DERM — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-13

• In July 2025, the FASB issued ASU No. 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets. The guidance provides a practical expedient that can be elected to be applied to accounts receivable and contract assets, which wo…

• Net product revenue increased $2.8 million, or 21.0%, to $15.9 million for the three-month period ended March 31, 2026 compared to the three-month period ended March 31, 2025. The increase is primarily driven by sales of Emrosi in the first quarter of 2026 of $6.3 million compared to $2.1 million in…

• Cost of goods sold - (excluding amortization of acquired intangible assets) increased by $1.4 million, or 30%, to $6.2 million for the three-month period ended March 31, 2026, from $4.8 million for the three-month period ended March 31, 2025, driven primarily by a $1.3 million non-cash charge relate…

• Selling, general and administrative expenses decreased by $0.5 million, or 4%, to $10.1 million for the three-month period ended March 31, 2026, from $10.6 million for the three-month period ended March 31, 2025. The decrease is primarily due to a reduction in Emrosi launch costs from the prior year…

• At March 31, 2026, we had cash and cash equivalents on hand of approximately $27.2 million as compared to $24.1 million of cash and cash equivalents at December 31, 2025, and working capital of $27.1 million at March 31, 2026, compared to $29.4 million at December 31, 2025.

Text removed vs the prior filing · source: 10-Q · 2025-11-12

• During the nine-month period ended September 30, 2025, there were no new accounting pronouncements or updates to recently issued accounting pronouncements disclosed in the 2024 Form 10-K that are expected to materially affect the Company’s present or future financial statements.

• Total product revenue increased $2.4 million, or 16.0%, to $17.0 million for the three-month period ended September 30, 2025 compared to the three-month period ended September 30, 2014. The third quarter of 2025 includes $4.9 million of incremental net product revenue related to the U.S. commercial …

• Cost of goods sold - (excluding amortization of acquired intangible assets) increased by $1.3 million, or 29%, to $5.8 million for the three-month period ended September 30, 2025, from $4.5 million for the three-month period ended September 30, 2024, due to an increase in product-related cost of goo…

• Research and development costs decreased by $0.6 million, or 66%, to $0.3 million for the three-month period ended September 30, 2025 from $0.8 million for the three-month period ended September 30, 2024. The third quarter of 2024 includes Emrosi pre-approval project expenses.

• Selling, general and administrative expenses increased by $0.7 million, or 6%, to $12.1 million for the three-month period ended September 30, 2025, from $11.4 million for the three-month period ended September 30, 2024. The increase is primarily due to the incremental operational activities related…

Text removed vs the prior filing · source: 10-Q · 2025-11-12

• The Company’s business may be materially adversely affected by the imposition of duties and tariffs and other trade barriers and retaliatory countermeasures implemented by the U.S. and other governments.

• Recently there have been significant changes to United States trade policies, sanctions and tariffs, including, but not limited to, trade policies and the imposition of tariffs affecting products imported from outside of the U.S., including pharmaceutical products. This could have negative impacts o…

• Our products and future product candidates may become subject to unfavorable pricing regulations, third-party coverage and reimbursement practices or healthcare reform initiatives, which could harm our business.

• The ability to successfully commercialize any product candidate that receives marketing authorization depends in part on the extent to which coverage and reimbursement for these products and related treatments will be available from government health administration authorities, private health insure…

• The United States and many foreign jurisdictions have enacted or proposed legislative and regulatory changes affecting the healthcare system, including implementing cost-containment programs to limit the growth of government-paid healthcare costs, including price controls, restrictions on reimbursem…