STRATA Skin Sciences Inc. (NASDAQ:SSKN) rose 24.87% to $2.41 in premarket trading on Wednesday following Mexican regulatory approval for its TheraClearX acne treatment system.
Check out the current price of SSKN stock here.
The stock closed Tuesday's regular session up 14.88% at $1.93, according to Benzinga Pro data.
COFEPRIS Grants Device Registration
The medical technology company said on Tuesday that Mexico's health regulator, COFEPRIS (Comisión Federal para la Protección contra Riesgos Sanitarios), granted Device Registration No. 3187E2024SSA, valid through November 2029.
The certification allows TheraClearX to be imported, marketed, and used in clinical settings across Mexico's medical and cosmetic markets.
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Initial Commercial Deployment Underway
STRATA began its commercial rollout through a partnership with MINO Labs, a Mexican pharmaceutical and medical device commercialization company.
Physicians will be able to purchase and use TheraClearX under the company’s usage-based partnership model, which requires no upfront capital investment and only charges for treatments completed.
Mexico Market Opportunity
According to the company, the professional acne medication segment in Mexico is projected to nearly double by 2030 with a compound annual growth rate (CAGR) of approximately 10.2%.
Average acne treatment sessions cost about MXN 3,200, or roughly $174.
Shmuel Gov, chief operating officer of STRATA, said, “The clearance of TheraClearX by COFEPRIS expands STRATA’s reach into a fast-growing, innovation-driven dermatology market.”
Stock Performance
STRATA reported a second-quarter loss of 60 cents per share, missing estimates of a 27-cent loss, on $7.7 million in revenue, below the expected $8.6 million.
The stock of the Pennsylvanian company is down 33.68% year to date, trading within a 52-week range of $1.38 to $3.86 and holding a market capitalization of $10.17 million.
Benzinga's Edge Stock Rankings indicate that SSKN has a positive price trend across all time frames. Know how its momentum lines up with other well-known names.
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