Strata Skin Sciences (SSKN) stock rocketed higher on Tuesday after the medical device company revealed positive results from a study where a 308-nm excimer laser was used to treat a “rare and under-recognized form of cutaneous T-cell lymphoma, mycosis fungoides (MF) through a subtype called poikilodermatous mycosis fungiodes (pMF).”
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Strata Skin Sciences noted that these results come from a collection of 14 studies that saw 72 patients treated. This resulted in a complete clinical response in 73.6% of patients, a partial response in 22.2% of patients, and no clinical improvement in only 2.8% of patients. 75% of patients experienced a complete histologic remission and relapses were rare at just 5.7% of complete responders after a mean of 13 months.
Dr. Dolev Rafaeli, President and CEO of Strata Skin Sciences, said, “It is worth noting that Japan, where this study was conducted, is a significant market for the XTRAC Excimer laser as dermatologists there are at the cutting edge of pioneering new uses for the technology. We continue to work closely with CMS in obtaining the expanded reimbursement for XTRAC and will continue to provide updates as they develop.”
Strata Skin Sciences Stock Movement Today
Strata Skin Sciences stock was up 62.99% in pre-market trading on Tuesday but remained down 47.08% year-to-date. The stock has also fallen 45.58% over the past 12 months. With today’s news came heavy trading of SSKN stock, as some 45.6 million shares changed hands, compared to a three-month daily average of about 6 million units.
Is Strata Skin Sciences Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Strata Skin Sciences is Moderate Buy, based on one Buy and one Sell rating over the past three months. With that comes an average SSKN stock price target of $3, representing a potential 17.65% upside for the shares.
