DERM - NASDAQ

Ladies and gentlemen, thank you for standing by. Good afternoon and welcome to the Journey Medical's First Quarter 2023 Financial Results and Corporate Update Conference Call. At this time, all participants are in listen-only mode. [Operator Instructions] Participants of this call are advised that the audio of this conference call is being broadcast live over the internet and is also being recorded for playback purposes. A webcast replay of the call will be available approximately one hour after the end of the call for approximately 30 days. I would now like to turn the call over to Matt Blazei of CORE IR, the company's Investor Relations firm. Please go ahead, sir.

Good afternoon and thank you for participating in today's conference call. Joining from Journey Medical Corporation's leadership team are Claude Maraoui, Co-Founder, President, and Chief Executive Officer; Joseph Benesch, Interim Chief Financial Officer. During this call, management will be making forward-looking statements including statements that address among other things, Journey Medical's expectations for future performance, operational results, financial condition and receipt of regulatory approvals. Forward-looking statements involve risks and other factors that may cause actual results to differ materially from those statements. For more information about these risks, please refer to the risk factors described in Journey Medical's most recently filed periodic reports on Form 10-K and Form 10-Q, the Form 8-K filed with the SEC today, and the company's press release that accompanies this call, particularly the cautionary statements in it. Today's conference call includes non-GAAP financial measures that Journey Medical believes can be useful in evaluating its performance. You should not consider this additional information in isolation or as a substitute for results prepared in accordance with GAAP. For a reconciliation of this non-GAAP financial measure to net loss, it's most directly comparable GAAP financial measure, please to the reconciliation table located in the company's earnings press release. The content of this call contains time-sensitive information that is accurate only as of today, May 22nd, 2023. Except as required by law, Journey Medical disclaims any obligations to publicly update or revise any information to reflect events or circumstances that occur after this call. It is now my pleasure to turn the call over to Claude Maraoui, Co-Founder, President, and Chief Executive Officer of Journey Medical.

Thanks Matt. Good afternoon and thanks to everyone for joining our first quarter 2023 conference call. Since Journey's inception, we have made significant investments and have committed to enhancing our commercial product portfolio and infrastructure to position ourselves for future revenue growth. For the first quarter of 2023, our total revenues were $12.2 million, which is lower than expected. Despite higher unit sales volumes and gross sales from period-to-period for Accutane, Amzeeq,

Thank you, Claude and hello everyone. I will now review the company's financial results for the first quarter of 2023. Our net product revenues for the first quarter of 2023 were $12.2 million, reflecting an $8.6 million decrease from the prior year quarter. While unit volumes and gross revenues were higher for Accutane, Amzeeq,