SkinStylus Gains FDA Clearance for Periorbital Wrinkles, Boosting Market Position
SKIN sits 42% above its 52-week low of $0.551.
Summary
SkinHealth Systems' SkinStylus microneedling device has received new FDA clearance for improving periorbital wrinkles across all skin types. This makes SkinStylus the only microneedling device with FDA indications for facial acne scars, periorbital wrinkles, and abdominal scars. This significant regulatory win expands the product's addressable market in the rapidly growing microneedling segment, which saw $330 million in consumer spend last year. The positive news follows a challenging period for the company, including a Nasdaq delisting notice in May and a recent $18 million lawsuit settlement in June.
At the time of this announcement, SKIN was trading at $0.78 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $97.8M. The 52-week trading range was $0.55 to $2.69. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.