Rhofade

I know that I'm posting on this company more than I should but I feel that my research is worth sharing given the long run of bad news by this company. I'll disappear for a while after this.

I think Rhofade is painting a great story of the efficacy of the Direct to Consumer strategy which in my opinion will attract further interest from other companies.
Anyway, Rhofade purchaded in September 23 for US$8M and launched 2nd of October, first two months of revenue US$5.2M that's a run rate of US$31.2M/year. Compare this to its previous owner Novan.

Novan Summary of Financial Results for the Full Year 2022

• As of December 31, 2022, Novan had a total cash and cash equivalents balance of $12.3 million.

• Novan reported total revenue of $23.7 million and $3.0 million for the year ended December 31, 2022 and 2021, respectively.

• Net product revenues for the year ended December 31, 2022 were $15.8 million, which represented the sales of medical dermatology products, including RHOFADE, WYNZORA, and MINOLIRA.
  
  Novan achieved only $15.8M for three products which included branded Wynzora a Danish product which we are now marketing and is currently being marketed in Europe by a leading Dermatology company Almirall which achieved these results for Wynzora
  
  
  My main point is that the DTC strategy is getting traction and attracting valuable products and companies.
  I'll take a siesta for a while now.
  Cheers