UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
_____________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): January 9, 2018
STRATA SKIN SCIENCES, INC.
(Exact Name of Registrant Specified in Charter)
|
Delaware
|
000-51481
|
13-3986004
|
|
(State or Other
|
(Commission File
|
(I.R.S. Employer
|
|
Jurisdiction of
|
Number)
|
Identification No.)
|
|
Incorporation)
|
|
|
|
|
100 Lakeside Drive, Suite 100, Horsham, Pennsylvania
|
19044
|
|
|
|
(Address of Principal Executive Offices)
|
(Zip Code)
|
|
Registrant's telephone number, including area code: 215-619-3200
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01 Regulation FD Disclosure
On January 9, 2018, Strata Skin Sciences (the "Company") posted an investor presentation to its website at http://investors.strataskinsciences.com/investors/home. A copy of the investor presentation is attached as Exhibit 99.1 to this Current Report on Form 8-K.
The information in this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section, nor shall it be deemed subject to the requirements of amended Item 10 of Regulation S-K, nor shall it be deemed incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date hereof, regardless of any general incorporation language in such filing. The furnishing of this information hereby shall not be deemed an admission as to the materiality of any such information.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
99.1 Strata Skin Sciences Investor Presentation dated January 9, 2018.
- 2 -
Exhibit Index
|
Exhibit No.
|
Exhibit Description
|
|
99.1
|
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
|
STRATA SKIN SCIENCES, INC.
|
|
|
|
|
|
|
|
|
Date: January 9, 2018
|
By:
|
/s/ Frank J. McCaney
|
|
|
|
|
Frank J. McCaney
|
|
|
|
|
President & Chief Executive Officer
|
|
- 3 -
EXHIBIT 99.1
“With their patented Selective Waveband Technology, the system will address what normally I need 5 systems to treat” - Grant Stevens, MD, F.A.C.S.Plastic Surgeon CONFIDENTIAL - DO NOT DISTRIBUTE
“With their patented Selective Waveband Technology, the system will address what normally I need 5 systems to treat” - Grant Stevens, MD, F.A.C.S.Plastic Surgeon STRATA ACTIVITIES STRATA SKIN SCIENCESWe Believe in Better Dedicated to Skin SciencesMedical Dermatology XTRAC Laser and Systems for Psoriasis, Eczema, VitiligoAesthetics Nordlys Multiplatform Laser Stratapen for Microneedling Large Opportunities, Better Products, Mix of Reimbursed and For Pay Offerings
“With their patented Selective Waveband Technology, the system will address what normally I need 5 systems to treat” - Grant Stevens, MD, F.A.C.S.Plastic Surgeon STRATA ACTIVITIES STRATA SKIN SCIENCESWe Believe in Better 2016 ResultsRevenues $31.7MGM 60.2%GAAP Adj. EBITDA $2.9MNo Guidance for 20172017 ChangesDiscontinuation of MelaFind productDistribution Agreement for Nordlys Aesthetic LaserOEM Relationship for StratapenConversion of Debt to StockRealignment of Significant Field Infrastructure, Refinement of Business Model
“With their patented Selective Waveband Technology, the system will address what normally I need 5 systems to treat” - Grant Stevens, MD, F.A.C.S.Plastic Surgeon STRATA ACTIVITIES STRATA SKIN SCIENCESWe Believe in Better Recent EventsWhen created in mid-2015, Strata acquired the XTRAC business for $43M in debtConversion of $41M in Debt to Preferred Stock with easy conversion to CommonStrata eliminates $1M interest for next four yearsWill utilize savings and balance sheet to foster acquisitions and internal project development
“With their patented Selective Waveband Technology, the system will address what normally I need 5 systems to treat” - Grant Stevens, MD, F.A.C.S.Plastic Surgeon STRATA ACTIVITIES Medical DermatologyWe Believe in Better XTRAC Excimer Laser, VTRAC lamp systemPsoriasis 6-8M patients USOver 2M treatments performedFully reimbursed treatmentProven EffectiveOutstanding Side Effect ProfileWorking on next gen recurring revenue product (2018) with the goal of significantly expanding our addressable market
“With their patented Selective Waveband Technology, the system will address what normally I need 5 systems to treat” - Grant Stevens, MD, F.A.C.S.Plastic Surgeon STRATA ACTIVITIES STRATA SKIN SCIENCESWe Believe in Better Psoriasis Vitiligo
Over the Counter Topicals Rx Topicals XTRAC Targeted Phototherapy Biologics InexpensiveLow efficacyFew side effects More expensiveModerate efficacyLow/Moderateside effects Cost effectiveExcellent efficacywith finite numberof treatmentsVirtually noside effects Very expensiveVery good efficacySignificantside effects XTRAC: Ideally Positioned
“With their patented Selective Waveband Technology, the system will address what normally I need 5 systems to treat” - Grant Stevens, MD, F.A.C.S.Plastic Surgeon STRATA ACTIVITIES Medical AestheticsWe Believe in Better NordlysDistribution Agreement for US with Ellipse A/SAesthetic Platform with SWT (next gen IPL), YAG Laser and FRAXBetter product for enhanced Patient comfort6,500 placements WW but only 400 USSignificant growth in Aesthetics with both core and non-core physicians. Nordlys is less painful and cuts downtime post procedure for most applications
9 Treats Skin Types I-VI3 Year WarrantyFastest Patient ThroughputPatented Dual-Mode FiltrationLow Fluence RequiredFewer Pulses Per Treatment “It’s been getting patients into the office for hair reduction, pigments, rosacea…virtually painless..less treatments…great results”-John M. Taylor, MDPlastic Surgeon
“With their patented Selective Waveband Technology, the system will address what normally I need 5 systems to treat” - Grant Stevens, MD, F.A.C.S.Plastic Surgeon
Photo Rejuvenation Photo Rejuvenation Pigmentation3 Treatments • 90 Days Pigmentation1 Treatment • 120 Days Pulses/Tx J/cm2 70 8 Single Treatment Total Pulses Total J/cm2 210 1680 Treatment Total Pulses/Tx J/cm2 10 10 Single Treatment Total Pulses Total J/cm2 10 100 Treatment Total PIGMENT CONCERNS
“With their patented Selective Waveband Technology, the system will address what normally I need 5 systems to treat” - Grant Stevens, MD, F.A.C.S.Plastic Surgeon StratapenApproved for delivery of pigment under the skinPatented features to prevent contaminationBetter pull through the skinRegionally sold until our OEM AgreementGetting strong reviews from KOLsStrong Disposable Trail
“With their patented Selective Waveband Technology, the system will address what normally I need 5 systems to treat” - Grant Stevens, MD, F.A.C.S.Plastic Surgeon STRATA ACTIVITIES STRATA 2018We Believe in Better Improve Profitability of XTRAC Business, Adapt to Changing EnvironmentRevitalize B2B and B2C Activities, launching comprehensive digital platform in Q1Leverage Sales and Support Infrastructure (60 people), Get Traction with distributed/ OEM products, gain additional accessPartner with Customers by providing best-in-class products for Practice Revenue with bothReimbursed Medical Procedures, andAesthetic For Pay Procedures
“With their patented Selective Waveband Technology, the system will address what normally I need 5 systems to treat” - Grant Stevens, MD, F.A.C.S.Plastic Surgeon STRATA ACTIVITIES STRATA 2018 and 2019We Believe in Better Renew the XTRAC business with shorter protocols and enhanced H/W and UI/UXMake the treatments more convenient and more efficaciousGraphical interface for patient dataDevelop versions that will be amenable to penetrating socialized medicine marketsNew Products in the Aesthetic spaceAlready under developmentOther Business Development, capacity in Sales
“With their patented Selective Waveband Technology, the system will address what normally I need 5 systems to treat” - Grant Stevens, MD, F.A.C.S.Plastic Surgeon STRATA ACTIVITIES STRATA SKIN SCIENCESWe Believe in Better Sales and support now up to speed on the two advantaged Aesthetic products, can drive incremental revenues at higher net profit levelsRevamping our tools for patient awareness and driving repeat business through Social MediaUpdating and Upgrading the XTRAC franchise to capture significantly more market shareHaving Value Solutions and Educational Support to help Medical Practices grow revenues and attract patients Summary
“With their patented Selective Waveband Technology, the system will address what normally I need 5 systems to treat” - Grant Stevens, MD, F.A.C.S.Plastic Surgeon