Journey Medical Corporation announced that the Company has entered into a credit facility with an affiliate of SWK Holdings Corporation providing for borrowings of up to $20 million. The Credit Facility provides for an initial term loan of $15 million that the Company intends to use to fund general corporate operations and commercial and DFD-29 product development initiatives. The Company also has the option to draw an additional tranche of $5 million under the Credit Facility, subject to the achievement of specified operational and financial metrics, in the twelve months following the date of the credit facility.
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