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STRATA SKIN SCIENCES INC (NASDAQ: SSKN) is a Horsham, Pennsylvania–based medical technology company specializing in non-invasive dermatology devices. Its flagship product, the XTRAC excimer laser, delivers a concentrated UVB beam for conditions such as psoriasis and vitiligo, while its TheraClearX system employs photopneumatic technology for treating mild-to-moderate acne. The VTRAC lamp system offers lamp‐based excimer therapy at 308 nm.
Corporate Structure and Ownership
Founded in 2016, STRATA Skin Sciences operates with 51–200 employees under the leadership of CEO Dolev Rafaeli. The company’s common stock trades on NASDAQ under the ticker SSKN. As of September 23, 2025, shares closed at $2.68, representing a 57.65 percent change over the prior period, on a trading volume of 16,079,494 shares. According to Yahoo Finance, the company’s market capitalization stood at approximately $11.8 million, with an average daily volume near 863,485 shares.
On September 5, 2025, STRATA Skin Sciences filed Amendment No. 2 to its Schedule 13D, disclosing that Accelmed Partners, L.P. beneficially owns 1,441,835 shares (27.4 percent of outstanding stock). Three days later, CVI Investments, Inc. and Heights Capital Management, Inc. reported joint beneficial ownership of 365,849 shares (6.9 percent) via a Schedule 13G.
Dermatology Devices by National Cancer Institute
Recent Developments and News
On September 4, 2025, STRATA Skin Sciences filed a Form 8-K to disclose a registered direct offering, indicating a capital raise to support growth initiatives.
On September 14, 2025, in recognition of World Atopic Eczema Day, the company published data showing that XTRAC treatment achieved an 81 percent reduction in itching within four weeks and complete remission in 85 percent of patients after ten sessions, with improvements in redness and skin thickening within one to two weeks.
Also in September 2025, an article in the International Journal of Dermatology reported results from a 251-patient randomized controlled trial demonstrating that combining XTRAC’s 308 nm excimer laser with an oral Janus kinase inhibitor enhanced response rates and safety profiles compared to monotherapy. CEO Dolev Rafaeli cited this study, among over 400 peer-reviewed papers, as supporting an application filed earlier in 2025 to expand reimbursement, with regulatory access expected by early 2026.
Financial and Strategic Analysis
For the trailing twelve months through June 30, 2025, STRATA Skin Sciences reported revenue of $32.85 million and a net loss of $11.54 million, translating to a profit margin of –35.13 percent. Return on assets stood at –11.13 percent, and return on equity at –235.41 percent. The diluted EPS was –$2.84. On the balance sheet, the company held $5.97 million in cash against long-term debt resulting in a debt-to-equity ratio of 5,309.42 percent and generated $2.34 million in levered free cash flow.
Valuation multiples include a price-to-sales ratio of 0.36, price-to-book ratio of 38.33, and an enterprise-value-to-revenue multiple of 0.68. Analysts forecast a one-year target price of $8.00, and the next earnings release is scheduled for November 12, 2025. Strategic priorities focus on securing expanded reimbursement, advancing combination-therapy protocols, and leveraging clinical evidence to support market access.
Market Position and Industry Context
STRATA Skin Sciences operates in the in-office dermatologic device market, competing with other phototherapy and laser-based treatment providers. Its XTRAC system provides targeted UVB delivery with minimal side effects, addressing chronic conditions such as psoriasis, vitiligo, and eczema. The TheraClearX platform targets acne via vacuum-enhanced light therapy, while VTRAC provides a lamp-based alternative to excimer lasers. The company holds CE Mark approval in the European Union for its MelaFind melanoma examination tool and continues to pursue regulatory clearances and reimbursement expansions globally.
tl;dr
As of September 23, 2025, STRATA Skin Sciences shares traded at $2.68 on NASDAQ following a registered direct offering (Form 8-K on September 4) and beneficial ownership updates from Accelmed Partners (27.4 percent on September 5) and CVI Investments/Heights Capital (6.9 percent on September 8). Clinical results published on September 14 indicated rapid and sustained relief for atopic eczema and enhanced outcomes when XTRAC is combined with JAK inhibitors. The company has applied for wider reimbursement, targeting early 2026 access, and will report Q3 figures on November 12, 2025. Financially, TTM revenue reached $32.85 million against an $11.54 million net loss, with $5.97 million in cash and a high debt-to-equity ratio.
