Journey Medical Corporation Announces Launch of its Initial Public Offering
November 08 2021 - 9:12AM
Journey Medical Corporation (“Journey Medical”), a commercial-stage
pharmaceutical company that focuses on the development and
commercialization of pharmaceutical products for the treatment of
dermatological conditions, and a subsidiary of Fortress Biotech,
Inc. (NASDAQ: FBIO) (“Fortress”), today announced that it has
launched an initial public offering of 3,200,000 shares of its
common stock. In addition, Journey Medical expects to grant the
underwriters a 30-day option to purchase up to an additional
480,000 shares of its common stock at the public offering price,
less the underwriting discount. All of the shares of common stock
are being offered by Journey Medical. The initial public offering
price is expected to be between $10 and $12 per share. Journey
Medical has applied to list its common stock on The Nasdaq Capital
Market under the symbol “DERM.”
B. Riley Securities is acting as the sole
book-running manager for the proposed offering. Roth Capital
Partners is acting as a co-manager for the proposed offering. The
offering is subject to market and other conditions, and there can
be no assurance as to whether or when the offering may be
completed.
A registration statement relating to the
proposed sale of these securities has been filed with the
Securities and Exchange Commission but has not yet become
effective. These securities may not be sold, nor may offers to buy
be accepted, prior to the time the registration statement becomes
effective.
The offering will be made only by means of a
prospectus. Copies of the preliminary prospectus relating to this
offering, when available, may be obtained from: B. Riley
Securities, Inc., Attention: Prospectus Department, 1300 North 17th
Street, Suite 1300, Arlington, Virginia 22209, by telephone:
703-312-9580, or by email at prospectuses@brileyfin.com.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy, nor shall there be
any sale of these securities in any state or jurisdiction in which
such offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About Journey Medical
CorporationJourney Medical Corporation (“Journey Medical”)
is a commercial-stage pharmaceutical company that focuses on the
development and commercialization of pharmaceutical products for
the treatment of dermatological conditions. The Journey Medical
team is comprised of industry experts with extensive experience
commercializing some of the most successful prescription
dermatology brands. Journey Medical is located in Scottsdale,
Arizona and is a subsidiary of Fortress Biotech, Inc. (NASDAQ:
FBIO). For additional information about Journey Medical, visit
www.journeymedicalcorp.com.
Forward-Looking StatementsThis
press release may contain “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934, as amended. As used
below and throughout this press release, the words “we,” “us” and
“our” refers to Journey. Such statements include, but are not
limited to, any statements relating to our growth strategy and
product development programs and any other statements that are not
historical facts. Forward-looking statements are based on
management’s current expectations and are subject to risks and
uncertainties that could negatively affect our business, operating
results and financial condition. Factors that could cause actual
results to differ materially from those currently anticipated
include: risks relating to our growth strategy; our ability to
obtain, perform under and maintain financing and strategic
agreements and relationships; risks relating to the results of
research and development activities; uncertainties relating to
preclinical and clinical testing; risks relating to the timing of
starting and completing clinical trials; our dependence on
third-party suppliers; risks relating to the COVID-19 outbreak and
its potential impact on our employees’ and consultants’ ability to
complete work in a timely manner and on our ability to obtain
additional financing on favorable terms or at all; our ability to
attract, integrate and retain key personnel; the early stage of
products under development; our need for substantial additional
funds; government regulation; patent and intellectual property
matters; and competition. We expressly disclaim any obligation or
undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change
in our expectations or any changes in events, conditions or
circumstances on which any such statement is based, except as may
be required by law, and we claim the protection of the safe harbor
for forward-looking statements contained in the Private Securities
Litigation Reform Act of 1995. The information contained herein is
intended to be reviewed in its totality, and any stipulations,
conditions or provisos that apply to a given piece of information
in one part of this press release should be read as applying
mutatis mutandis to every other instance of such information
appearing herein.
Company Contacts:Jaclyn Jaffe
and Bill Begien(781) 652-4500ir@fortressbiotech.com
Media Relations Contact:Tony
Plohoros6 Degrees(908) 591-2839tplohoros@6degreespr.com
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