1 | © 2025 Journey Medical Corporation. All rights reserved.
INVESTOR PRESENTATION
November 2025
PRESENTED BY:
Claude Maraoui
Co-Founder, President and CEO
Joseph Benesch
Chief Financial Officer
Ramsey Alloush
Chief Operating Officer
2 | © 2025 Journey Medical Corporation. All rights reserved.
FORWARD-LOOKING STATEMENTS
FORWARD-LOOKING STATEMENTS
This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. As used below and throughout this press
release, the words “the Company”, “we”, “us” and “our” may refer to Journey Medical. 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. The words “anticipate,” “believe,” “estimate,” “may,” “expect,” “will,” “could,” “project,” “intend” and similar expressions are generally intended to identify forward-looking statements. 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, financial condition and stock price. Factors that could cause actual results to differ materially from those currently
anticipated include: the fact that our products and product candidates are subject to time and cost intensive regulation and clinical testing and as a result, may never be successfully developed or commercialized; a substantial portion of our sales derive
from products that may become subject to third-party generic competition, the introduction of new competitor products, or an increase in market share of existing competitor products, any of which could have a significant adverse impact on our
operating income; we operate in a heavily regulated industry, and we cannot predict the impact that any future legislation or administrative or executive action may have on our operations; our revenue is dependent mainly upon sales of our
dermatology products and any setback relating to the sale of such products could impair our operating results; competition could limit our products’ commercial opportunity and profitability, including competition from manufacturers of generic versions
of our products; the risk that our products do not achieve broad market acceptance, including by government and third-party payors; our reliance third parties for several aspects of our operations; our dependence on our ability to identify, develop, and
acquire or in-license products and integrate them into our operations, at which we may be unsuccessful; the dependence of the success of our business, including our ability to finance our company and generate additional revenue, on the successful
commercialization of our recently approved product, Emrosi , and any future product candidates that we may develop, in-license or acquire; clinical drug development is very expensive, time consuming, and uncertain and our clinical trials may fail to
adequately demonstrate the safety and efficacy of our current or any future product candidates; our competitors could develop and commercialize products similar or identical to ours; risks related to the protection of our intellectual property and our
potential inability to maintain sufficient patent protection for our technology and products; our business and operations would suffer in the event of computer system failures, cyber-attacks, or deficiencies in our or our third parties’ cybersecurity; the
substantial doubt about our ability to continue as a going concern; the effects of major public health issues, epidemics or pandemics on our product revenues and any future clinical trials; our potential need to raise additional capital; Fortress controls a
voting majority of our common stock, which could be detrimental to our other shareholders; as well as other risks described in Part I, Item 1A, “Risk Factors,” in our Annual Report on Form 10-K for the year ended December 31, 2024, subsequent
Reports on Form 10-Q, and our other filings we make with the SEC. 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.
TRADEMARKS
This confidential presentation may contain trademarks, service marks, trade names and copyrights of other companies, which are the property of their respective owners. Solely for convenience, some of the trademarks, service marks, trade names and
copyrights referred to in this presentation may be listed without the TM, SM, © or ® symbols, but the Company will assert, to the fullest extent under applicable law, the rights of the applicable owners, if any, to these trademarks, service marks, trade
names and copyrights.
MARKET & INDUSTRY DATA
Projections, estimates, industry data and information contained in this presentation, including the size of and growth in key end markets, are based on information from third-party sources and management estimates. Although the Company believes that
its third party-sources are reliable, the Company cannot guarantee the accuracy or completeness of its sources. The Company's management estimates are derived from third-party sources, publicly available information, the Company's knowledge of its
industry and assumptions based on such information and knowledge. The Company's management estimates have not been verified by any independent source. All of the projections, estimates, market data and industry information used in this
presentation involve a number of assumptions and limitations, and you are cautioned not to give undue weight to such information. In addition, projections, estimates and assumptions relating to the Company's and its industry's future performance are
necessarily subject to a high degree of uncertainty and risk due to a variety of factors, including, but not limited to, those described above, that could cause future performance to differ materially from the Company's expressed projections, estimates and
assumptions or those provided by third parties.
3 | © 2025 Journey Medical Corporation. All rights reserved.
NASDAQ: DERM
Market Cap: $246.1MM
*
Shares Outstanding: 27.1MM
*
Average Volume: 158.2K
*
*Market data as of 11/12/2025
4 | © 2025 Journey Medical Corporation. All rights reserved.
INVESTMENT HIGHLIGHTS
1. Source: Symphony Health
Commercial-stage pharmaceutical company focused on proprietary & patented products serving prescription dermatology
markets with a total market size of ~$5.8 billion
1
(acne, rosacea, hyperhidrosis)
Key growth driver: EMROSI launched April 2025 in U.S. with head-to-head superiority over market leader (Oracea
®
);
Potential to drive significant revenue growth and earnings leverage going forward
Core dermatology product portfolio contribution-positive with 2024 revenues of $55 million
Successful business development efforts to date out-licensing international rights to current products and
in-licensing new assets to leverage Journey’s U.S. commercial & development infrastructure
Solid balance sheet with $24.9MM in cash as of 9/30/2025
DERM stock added to the Russell 2000
®
& 3000
®
indexes on June 27, 2025
5 | © 2025 Journey Medical Corporation. All rights reserved.
Note: Bausch Health Companies, Inc. was formerly known as Valeant Pharmaceuticals International
Claude Maraoui
Founder, President
& Chief Executive Officer
30+ years of
experience
commercializing
successful dermatology
products
Ramsey Alloush
Chief Operating Officer
15+ years of
experience
in pharmaceutical
companies
Robert Nevin
Chief Commercial Officer
24+ years of
experience
in pharmaceutical,
lab and medical
management
Andrew Zwible
Vice President,
Operations
10+ years of
experience
in dermatology
pharmaceuticals
Jessica Yeaman
National Sales Director
17+ years of
experience
in dermatology
pharmaceuticals
Brian Prout
Executive Director,
Marketing
17+ years of
experience
commercializing
pharmaceuticals and
medical devices
Joseph Benesch
Chief Financial Officer
25+ years of
experience
in public and private
pharmaceutical
companies
SENIOR MANAGEMENT WITH SIGNIFICANT DERMATOLOGY EXPERIENCE
Srinivas
Sidgiddi, M.D.
Vice President,
Research & Development
18+ years of
experience
in pharmaceutical
development and
clinical research
6 | © 2025 Journey Medical Corporation. All rights reserved.
OUR LEADERS HAVE LAUNCHED MANY SUCCESSFUL DERMATOLOGY BRANDS
Experience growing & managing marquee medical dermatology brands that generated over $2B in sales
1
:
A majority of our management team and sales force were part of the commercial organization at Medicis
(which was sold to Bausch Health Companies Inc., for approximately $2.5B in 2012)
1. Per Symphony Health based on peak sales
Built and launched new brands in the marketplace
Managed product life cycles to extend revenue streams
Created innovative, first-in-class growth strategies
7 | © 2025 Journey Medical Corporation. All rights reserved.
HIGHLIGHTS & SALES EXPERIENCE
OUR COMMERCIAL ORGANIZATION IS HIGHLIGHTED BY A UNIQUE AND
EXPERIENCED DERMATOLOGY SALES FORCE
Sales representatives have deep-rooted customer relationships
in their respective territories.
Our sales reps are incentivized to build their own “business”:
We screen for individuals with an entrepreneurial and self-starter mindset
We incentivize performance through our unique incentive program
We provide equity rewards to incentivize performance
COVERAGE IN THE
U.S. DERMATOLOGY
TRx MARKET
70%
COVERAGE IN
THE TOP 50
U.S. MSAs
80%
DERMATOLOGY
SALES TERRITORIES
35
9 yrs.
Avg. Dermatology
Sales Experience
284 yrs.
Combined Experience
in Dermatology
100
Regional Sales
Awards
10
Sales Rookies
of the Year
71
President’s Club
Trophies
8 | © 2025 Journey Medical Corporation. All rights reserved.
PRIOR TO THE LAUNCH OF EMROSI , THE CORE PRODUCT PORTFOLIO
ACCOUNTED FOR 90% OF PRODUCT SALES
1. Symphony Health (all specialties data). TRx = Total number of prescriptions
2. International Hyperhidrosis Society,
3. Dolittle, et al, 2016, Hyperhidrosis: an update on prevalence and severity in the United States, Archives of Dermatology Research
4. Wehausen, B., Hill, D. E, & Feldman, S. R. (2016). Most people with psoriasis or rosacea are not being treated: a large population study. Dermatology Online Journal, 22(7).
Glycopyrronium 2.4% cloth for topical treatment of
primary axillary hyperhidrosis
60% prescription growth since acquiring the product
in Q2 2021
1
Addressable market of ~10M patients in the U.S.
2,3
Treatment of inflammatory lesions of non-nodular moderate to severe
acne vulgaris
The first and only FDA-approved topical formulation of minocycline
for acne
>23.7M topical acne RXs in 2024, category is highly promotion sensitive
1
Isotretinoin capsule for the treatment of severe
recalcitrant nodular acne
The oral isotretinoin market had over 2.2 million
prescriptions in 2024
1
Accutane TRx had compounded annual growth
of 42.8% from 2021 2024
Treatment of inflammatory lesions of rosacea
>4.3M topical rosacea RXs per year in 2024
1
An estimated 5% of Americans (~17M people) suffer from rosacea
4
Launched on April 7, 2025
9 | © 2025 Journey Medical Corporation. All rights reserved.
U.S. Commercial Launch April 2025
Leveraging Journey Medical’s Dermatology-Focused
Commercial Platform & Business Development Strategy
10 | © 2025 Journey Medical Corporation. All rights reserved.
EMROSI: COMMERCIAL HIGHLIGHTS
1. Wehausen, B., Hill, D. E, & Feldman, S. R. (2016). Most people with psoriasis or rosacea are not being treated: a large population study. Dermatology Online Journal, 22(7).
2. Source: Symphony, PHAST Prescription data
Emrosi received FDA approval in November 2024; On time, first-cycle review
Superior to both placebo and market-leading oral rosacea treatment, Oracea
®
Emrosi has potential to become the standard of care
17 million Americans suffer from rosacea
1
Established dermatology-focused commercial organization covering
83% of oral rosacea prescriptions
2
Potential to generate significant sales and earnings leverage
Payer contracts in place with 2 of the 3 largest GPOs
Out-licensing opportunities to generate cash and future revenue
11 | © 2025 Journey Medical Corporation. All rights reserved.
EMROSI: POTENTIAL BEST-IN-CLASS TREATMENT FOR ROSACEA
Capsule Image For Illustrative Purposes Only
PRODUCT PROFILE
INDICATION
1
Treatment of inflammatory lesions (papules and pustules) of rosacea in adults
PRODUCT
DESCRIPTION
1
Minocycline 40mg extended-release capsule:
Once-daily (QD) oral dosing; 16-week treatment duration
Each capsule contains a proprietary blend of 10 mg immediate-release & 30 mg
extended-release minocycline beads for uniform drug release throughout the day
Head-to-head superiority over market leader Oracea
®
demonstrated in Phase 3 trials
Safety profile similar to placebo
Shelf life of 3 years
PUBLICATION
Phase 3 Clinical Data Published in JAMA Dermatology
(March 2025)
PATENTS
Three U.S. Orange Book listed patents issued
(expected market exclusivity to 2039)
MARKET SIZE
Rosacea treatment sales in the U.S. were approximately $1.2B in 2024
2
Oracea
®
the market leader had $311M in prescription sales in 2024
2
1. EMROSI. Prescribing Information. Journey Medical Corporation; 2024
2. Source: Symphony, PHAST Prescription data.
12 | © 2025 Journey Medical Corporation. All rights reserved.
62.7
39
28.2
Emrosi
(40mg)
N=245
Oracea
(40mg)
N=246
Placebo
N=162
% of Subjects
*All statistical tests were two-sided, with α=0.05 as level of significance
EMROSI DEMONSTRATED SUPERIOR EFFICACY OVER ORACEA
®
AND PLACEBO IN TWO PHASE 3 CLINICAL TRIALS
P<0.001
*
IGA Treatment Success - Week 16
1
(Pooled Data)
Inflammatory Lesion Reduction - Week 16
1
(Pooled Data)
P<0.001
*
-19
-14.8
-11.3
Emrosi
N=245
Oracea
N=246
Placebo
N=162
Lesion Count Change
P<0.001
*
P<0.001
*
PHASE 3
(Co-Primary Endpoints)
Note: *All statistical tests were two-sided, with α=0.05 as level of significance.
1. Data on file. Journey Medical Corporation
IGA Treatment Success:
Emrosi was statistically superior to Oracea and placebo in
the % of patients achieving Clear (0) or Almost Clear (1),
with at least a 2-grade improvement from baseline.
Study participants began as Moderate (3) or Severe (4)
on the IGA scale.
Emrosi was 61% greater than Oracea and 122% greater
than placebo, calculated as a relative percentage
Inflammatory Lesion Reduction:
Emrosi was statistically superior to Oracea and placebo
in reducing inflammatory lesions. Study participants had
an average of 25 lesions at baseline.
Emrosi was 28% greater than Oracea and 68% greater
than placebo, calculated as a relative percentage
No other drugs have demonstrated head-to-head
superiority over Oracea
No significant safety issues were noted in these trials.
13 | © 2025 Journey Medical Corporation. All rights reserved.
27.9
12.5
Emrosi
N=245
Placebo
N=162
% of Subjects
EMROSI WAS SUCCESSFUL ON ALL SECONDARY ENDPOINTS
INCLUDING PERCENT CHANGE IN LESION COUNT
AND ERYTHEMA REDUCTION
*All statistical tests were two-sided, with α=0.05 as level of significance
P<0.001
*
Erythema Success - Week 16
1*
(Pooled Data)
Inflammatory Lesion % Reduction - Week 16
1
(Pooled Data)
-76%
-61%
-46%
Emrosi
N=245
Oracea
N=246
Placebo
N=162
Lesion Count % Change
Inflammatory Lesion Percent Reduction:
Emrosi was statistically superior to Oracea and
placebo in reducing % change in inflammatory lesions.
Study participants had an average of 25 lesions at
baseline.
24% greater than Oracea and 65% greater
than placebo, calculated as a relative percentage
Erythema Success:
Emrosi was statistically superior to placebo in reducing
the Clinician’s Erythema Assessment (CEA) score by at
least 2 points from baseline (Erythema Success) in the
Phase 3 trials.
123% greater erythema success than placebo,
calculated as a relative percentage
P<0.001
*
P<0.001
*
PHASE 3
(Secondary Endpoints)
Note: *All statistical tests were two-sided, with α=0.05 as level of significance.
1. Data on file. Journey Medical Corporation
*Emrosi is indicated to treat inflammatory lesions
(papules and pustules) of rosacea in adults.
14 | © 2025 Journey Medical Corporation. All rights reserved.
EMROSI DEMONSTRATED ONSET OF EFFICACY AS EARLY
AS WEEK 2 COMPARED TO PLACEBO, AND WAS SUPERIOR
AT EACH SUBSEQUENT STUDY VISIT
PHASE 3
(Exploratory Endpoint)
1. EMROSI. Prescribing Information. Journey Medical Corporation; 2024. 2. Data on file. Journey Medical Corporation.
62.7%
39.0%
28.2%
Emrosi
(n=245)
Oracea
(n=246)
Placebo
(n=162)
% of Subjects
Pooled IGA Treatment Success - Week 16
2
11.4%
27.6%
42.8%
50.9%
7.4%
13.3%
23.7%
31.9%
2.7%
8.3%
13.9%
15.0%
Week 2 Week 4 Week 8 Week 12
% of Subjects
Emrosi (n=245) Oracea (n=246) Placebo (n=162)
Pooled IGA Treatment Success Onset of Action
2
*All statistical tests were two-sided, with α=0.05 as level of significance
p<0.001
*
p<0.001
*
p<0.001
*
p<0.001
*
p=0.003
*
p=0.259 (NS)
*
Study design: Two identically designed, randomized, double-blind, active- and placebo-controlled Phase 3 trials (MVOR-1 and MVOR-2), including 653 total participants, to compare the impact of oral EMROSI (minocycline HCl 40 mg capsules), Oracea
®
(doxycycline, 40 mg), and placebo in adults with moderate-to-severe rosacea.
Subjects were required to have an inflammatory lesion count (papules and pustules) in the range 15-60 lesions and an Investigator’s Global Assessment (IGA) score of 3 (“moderate”) or 4 (“severe”) at baseline. IGA Treatment Success was defined as an IGA score of 0 (“clear”) or 1 (“near clear”) with at least a 2-grade reduction from baseline.
1
IGA Treatment Success was defined as an IGA Score
of Clear (0) or Near Clear(1) , with at least a 2-grade
reduction from Moderate (3) or Severe (4).
15 | © 2025 Journey Medical Corporation. All rights reserved.
PHASE 3
(Exploratory Endpoint)
Study Design: Two identically designed, randomized, double-blind, active- and placebo-controlled Phase 3 trials (MVOR-1 and MVOR-2), including 653 total participants, to compare the impact of oral EMROSI (minocycline HCl 40 mg capsules), Oracea® (doxycycline, 40 mg), and placebo in adults with moderate-to-severe rosacea.
Subjects were required to have an inflammatory lesion count (papules and pustules) in the range 15-60 lesions and an Investigator’s Global Assessment (IGA) score of 3 (“moderate”) or 4 (“severe”) at baseline. Inflammatory Lesion Reduction was based on the absolute change from baseline in total inflammatory lesion counts.
1
Pooled Inflammatory Lesion Count
Reduction Week 16
2
-9.3
-13.6
-16.3
-17.7
-7.0
-9.6
-12.3
-14.3
-5.9
-7.2
-9.6
-10.0
Week 2 Week 4 Week 8 Week 12
Emrosi (n=245) Oracea (n=246) Placebo (n=162)
p=0.002
*
p<0.001
*
p<0.001
*
p<0.001
*
Lesion Count Change
p<0.001
*
Pooled Inflammatory Lesion Count Reduction Onset of Action
2
*All statistical tests were two-sided, with α=0.05 as level of significance
p<0.001
*
(-76.2%)
(-60.6%)
(-46.3%)
EMROSI DEMONSTRATED ONSET OF EFFICACY AS EARLY
AS WEEK 2 COMPARED TO PLACEBO, AND WAS SUPERIOR
AT EACH SUBSEQUENT STUDY VISIT
At baseline, subjects had a mean inflammatory
lesion count of 25 (ranged 15 to 58).
1. EMROSI. Prescribing Information. Journey Medical Corporation; 2024. 2. Data on file. Journey Medical Corporation.
16 | © 2024 Journey Medical Corporation. All rights reserved.
PATIENT RESULTS AT BASELINE & 16 WEEKS
POST TREATMENT
Actual patient images from Emrosi Phase 3 Clinical Trials. Photos used with permission.
Results of individual patients may not be typical, as individual results may vary.
PHASE 3
(Efficacy)
17 | © 2024 Journey Medical Corporation. All rights reserved.
Actual patient images from Emrosi Phase 3 Clinical Trials. Photos used with permission.
Results of individual patients may not be typical, as individual results may vary.
PATIENT RESULTS AT BASELINE & 16 WEEKS
POST TREATMENT
PHASE 3
(Efficacy)
18 | © 2024 Journey Medical Corporation. All rights reserved.
EMROSI DEMONSTRATED A SIMILAR SAFETY PROFILE
TO PLACEBO
1,2
IN PHASE 3 STUDIES
1
Key Treatment-Related Adverse Events
(N=638)
2.1% 2.1%
1.6%
0.8%
0.0%
3.4%
2.1%
0.8%
1.3%
2.1%
2.5%
3.8%
0.0%
1.3% 1.3%
0%
2%
4%
6%
8%
10%
12%
14%
Headache Diarrhea Dyspepsia Gastroesophageal Reflux Nausea
% of Patients
Emrosi (Minocycline, 40mg)
(N=243)
Oracea® (Doxycycline, 40mg)
(N=237)
Placebo
(N=158)
The frequency of key treatment-related adverse events was low,
and most were reported as mild or moderate.
PHASE 3
(Safety)
1. Data on file. Journey Medical Corporation
19 | © 2024 Journey Medical Corporation. All rights reserved.
17,000,000
The U.S. Rosacea Market had
2024 Gross Sales of ~$1.2bn
3
ORACEA
$311M in
Gross Sales
3
EMROSI HAS SUPERIOR EFFICACY TO THE MARKET LEADER ORACEA,
WHICH HAD 2024 GROSS SALES OF $311 MILLION
ESTIMATED U.S. ROSACEA PATIENTS
(2024)
It is estimated that ~5% of the
U.S. population (17mm people)
suffer from rosacea
2
STRATEGIC RATIONALE
Robust clinical data demonstrating
superior efficacy over Oracea with a
placebo-like safety profile
Efficacy is the primary driver for
physician adoption in oral rosacea
therapy
1
Complementary to Journey’s current
product mix and commercial footprint
Additional ex-U.S. out-licensing
opportunities (Excluding BRIC and CIS)
EMROSI NET SALES POTENTIAL
IN U.S. EXCEEDING $200mm
PEOPLE
1. Internal Market Research.
2. Wehausen, B., Hill, D. E, & Feldman, S. R. (2016). Most people with psoriasis or rosacea are not being treated: a large population study. Dermatology Online Journal, 22(7).
3. Symphony, PHAST Prescription data. TRx sales defined as TRx$ = TRx x WAC Price.
20 | © 2025 Journey Medical Corporation. All rights reserved.
Source: IQVIA Prescriber-level Data
TRx = Total number of prescriptions
94% of Oral Rosacea
TRx are written in
Dermatology
(based on IQVIA 2024 TRx)
83% of Oral Rosacea
Derm TRx will be
covered at launch
(based on IQVIA 2024 TRx)
JOURNEY MEDICAL’S SALES FORCE COVER THE VAST MAJORITY
OF ORAL ROSACEA PRESCRIPTIONS IN DERMATOLOGY
21 | © 2025 Journey Medical Corporation. All rights reserved.
EMROSI: COMMERCIAL PROGRESS
1. Source: Symphony, PHAST Prescription data
Emrosi was commercially launched
on April 7, 2025
33,970 prescription have been filled
through October
Strong monthly growth in both new
prescriptions and refills
Over 2,720 unique providers have written
an Emrosi prescription since launch
Payer access attained for more than
100M commercial lives in the U.S.
1,220
2,368
3,806
5,207
5,745
7,246
8,378
455
1,025
1,455
1,780
2,160
2,420
2,720
-
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
APR MAY JUN JUL AUG SEP OCT
Total Prescriptions Cumulative Prescribers
EMROSI TRx Growth & Cumulative Prescribers
1
(All Specialties)
22 | © 2025 Journey Medical Corporation. All rights reserved.
One publication and two manuscript submissions are in process at leading peer-reviewed journals,
covering the following topics:
Safety & Efficacy vs. Placebo & Oracea for Lesions & Erythema (published in JAMA Dermatology; March 5, 2025)
Microbiology
Quality of Life Improvement
Clinical posters will communicate key aspects of the clinical data at major dermatology conferences:
PK Safety Study (Fall Clinical; Oct. 2023)
Sub-Antimicrobial Study (AAD; Mar. 2024 | Encore presentation at DEF NP/PA; Jul. 2025 )
QoL Improvement (DEF NP/PA; Jul. 2024 | Encore presentation at Winter Clinical; Feb. 2025)
Systemic vs. Dermal PK in Emrosi & Oracea (Fall Clinical; Oct. 2024)
Body Weight Analysis (SDPA Annual Summer Dermatology Conference; June 2025)
Pooled Erythema Data (AAD Innovation Academy; July 2025)
Pooled Co-Primary Endpoints (Fall Clinical; Oct. 2025)
EMROSI PUBLICATION & DATA COMMUNICATION PLAN
23 | © 2025 Journey Medical Corporation. All rights reserved.
EMROSI KEY TAKEAWAYS
EMROSI is the best-in-class oral therapy for inflammatory lesions of rosacea
and is expected to become the new standard of care in rosacea therapy
1. Head-to-head superiority over Oracea
®
demonstrated in two Phase 3 trials
2. Treatment results in as little as 2 weeks
3. Demonstrated placebo-like safety profile
4. Potential to achieve more than $300 million in global net sales
5. Significant revenue and earnings potential given Journey’s existing
dermatology-focused commercial infrastructure
24 | © 2025 Journey Medical Corporation. All rights reserved.
U.S. Based Commercial Organization
Leverage proven commercial infrastructure
to launch acquired / developed products:
“Best in Dermatology sales and marketing organization
Network of 700+ specialty pharmacies
HCP-trusted access program provides coverage to more patients
Ex-U.S. Out-Licensing
Significant global out-licensing opportunity
for current and future products:
Leverage existing distributor relationships to out-license
current products in new geographies (e.g. $19M Maruho Transaction)
Dedicated BD function actively seeking new out-licensing opportunities
BUSINESS DEVELOPMENT STRATEGY
1. STRONG PORTFOLIO OF RX
DERMATOLOGY BRANDS
8 Commercial
Dermatology Assets
2. GROWTH THROUGH ACQUISITION & IN-LICENSING
Former Medicis management team experienced at
identifying undervalued assets
Products acquired since 2021 contribute over 90% of net revenue
3. STRATEGIC INVESTMENT IN LATE-STAGE, PHASE 3 READY ASSETS
Recent approval of Emrosi and strong synergies with Fortress Biotech
Emrosi has potential to exceed annual sales of $200M in the U.S.,
plus additional revenue through global out-licensing opportunities
25 | © 2025 Journey Medical Corporation. All rights reserved.
CORPORATE PRIORITIES AND OBJECTIVES IN 2025
EMROSI launch and TRx demand curve
Progress with payers and ramp up in covered lives with health plan access to EMROSI
Advance business toward sustainable positive EBITDA and profitability
Additional peer-reviewed journal articles and conference posters planned for
EMROSI over the next 12 months
Potential business development transactions including global out-licensing opportunities
NASDAQ: DERM