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What Drove The STRATA Skin Sciences, Inc. (NASDAQ: SSKN) Stock In Extended Trading?

Shares of dermatology-focused company STRATA Skin Sciences, Inc. (NASDAQ: SSKN) leapt 15.03% to $1.99 in the trading after ring of the bell on Monday. The regular session on the day was not profitable for the stock as it fell -5.46% to close at $1.73. The situation came arising after surfacing of inducement grant news to newly joined CEO.

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Strata Skin Sciences is a medical technology company dedicated to the development, commercialization and marketing of innovative dermatologic products with a focus on Dermatology and Plastic Surgery. It specializes in the creation of equipment for the treatment of various skin conditions, including psoriasis, vitiligo, and other serious conditions.

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The Company’s patented XTRAC laser delivers a target-based UVB beam for the treatment of psoriasis, vitiligo, eczema, leukoderma, and atopic dermatitis. It is estimated that over 31 million patients in the United States are suffering from these diseases alone. There are multiple patents on this technology, including the exclusive rights for the delivery of treatments to patients with vitiligo.

Yesterday, STRATA Skin Sciences announced that the Company granted equity-based awards to Robert Moccia in exchange for him accepting employment with the Company as its Chief Executive Officer and President. Same was submitted with the SEC on its Form 8-K filed on March 1, 2021, effective as of the close of trading on March 1, 2021, in accordance with Nasdaq Listing Rule 5635(c)(4).

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