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Form 8-K

sec.gov

8-K — Journey Medical Corp

Accession: 0001104659-26-060232

Filed: 2026-05-13

Period: 2026-05-13

CIK: 0001867066

SIC: 2834 (PHARMACEUTICAL PREPARATIONS)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — tm2614268d1_8k.htm (Primary)

EX-99.1 — EXHIBIT 99.1 (tm2614268d1_ex99-1.htm)

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event

reported): May 13, 2026

Journey Medical Corporation

(Exact Name of Registrant as Specified in Charter)

Delaware

001-41063

47-1879539

(State or Other Jurisdiction

of Incorporation)

(Commission File Number)

(I.R.S.

Employer

Identification No.)

9237 E Via de Ventura Blvd., Suite 105

Scottsdale, AZ 8525

(Address of principal executive offices)

Registrant’s telephone number, including

area code: (480) 434-6670

Check the appropriate box below if the Form

8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities

Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange

Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under

the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under

the Exchange Act (17 CFR 240.13e-4(c))

Securities registered

pursuant to Section 12(b) of the Act:

Title

of each class

Trading

Symbol(s)

Name

of each exchange

on which registered

Common Stock

DERM

The Nasdaq Capital Market

Indicate by check mark whether the registrant

is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the

Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company   x

If an emerging growth company, indicate by check

mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting

standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 2.02. Results of Operations and Financial Condition.

On May 13, 2026, Journey

Medical Corporation issued a press release to provide a corporate update and to announce its financial results for the three months ended

March 31, 2026. A copy of such press release is being furnished as Exhibit 99.1 to this report.

The information, including

Exhibit 99.1, in this Form 8-K is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities

Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. The information in this Form 8-K shall not

be incorporated by reference into any filing under the Securities Act of 1933, as amended, except as shall otherwise be expressly set

forth by specific reference in such filing.

Item 9.01.

Financial Statements and Exhibits.

(d) Exhibits.

The following exhibits are furnished herewith:

Exhibit

Number

Description

99.1

Press release issued by Journey Medical Corporation, dated May 13, 2026.

104

Cover Page Interactive Data File, formatted in Inline Extensible Business Reporting Language (iXBRL).

SIGNATURES

Pursuant to the requirements

of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto

duly authorized.

Journey Medical Corporation

(Registrant)

By:

/s/ Claude Maraoui

Claude Maraoui

Chief Executive Officer, President and Director

Date: May 13, 2026

EX-99.1 — EXHIBIT 99.1

EX-99.1

Filename: tm2614268d1_ex99-1.htm · Sequence: 2

Exhibit 99.1

Journey Medical

Corporation Reports First Quarter 2026 Financial Results and Recent Corporate Highlights

Total revenues

for the first quarter ended March 31, 2026 increased 21% year-over-year to $16.0 million

Emrosi®

revenues were $6.3 million in the first quarter ended March 31, 2026

Cash

position increased to $27 million, driven by strong financial performance

Company

to hold conference call today at 4:30 p.m. ET

Scottsdale,

AZ – May 13, 2026 – Journey Medical Corporation (Nasdaq: DERM) (“Journey Medical,” “the Company,”

“we” or “our”), a commercial-stage pharmaceutical company focused on developing, selling and marketing FDA-approved

prescription pharmaceutical products for the treatment of dermatological conditions, today announced financial results and recent corporate

highlights for the first quarter ended March 31, 2026.

Claude Maraoui,

Journey Medical’s Co-Founder, President and Chief Executive Officer, said, “2026 is off to a strong start, as we delivered

solid revenue growth and cash generation in the first quarter of the year. Prescription demand and payer coverage for Emrosi®

continue to increase, with the product’s differentiated clinical profile gaining traction as we establish Emrosi®

as the best-in-class oral treatment for patients suffering from rosacea. Increasing refill rates and a growing number of Emrosi®

prescribers are also building momentum behind the brand. Our net product sales growth in the quarter coupled with disciplined investment

in our dermatology-focused commercial infrastructure resulted in improved operating leverage, and we expect this trend to continue going

forward. With over $27 million in cash and Emrosi® entering

its second year on the market, we remain well-positioned to continue to execute on our strategy and deliver strong financial progress

throughout the year.”

Financial Results:

· Total

revenues were $16.0 million for the first quarter of 2026, reflecting a 21% increase from

$13.1 million for the first quarter of 2025. The increase was driven by continued growth

in Emrosi®,

which generated revenues of $6.3 million for the quarter ended March 31, 2026, compared to

$2.1 million for the quarter ended March 31, 2025.

· The

Company’s gross margin(1) decreased to 61.0% for the first quarter

of 2026, from 63.5% in the first quarter of 2025. The decrease resulted primarily from a

$1.3 million non-recurring non-cash charge against cost of goods during the first quarter

of 2026 associated with a write down of active pharmaceutical ingredient (API) inventory

related to the 2021 Qbrexza®

asset acquisition.

· Selling,

general and administrative expenses decreased by $0.5 million to $10.1 million for the three-month

period ended March 31, 2026, from $10.6 million for the three-month period ended March 31,

2025. The decrease is primarily due to lower Emrosi®

launch costs compared to the prior year quarter.

· Net

loss for the Company narrowed to $2.2 million, or $(0.08) per share basic and diluted, for

the first quarter of 2026, compared to a net loss of $4.1 million, or $(0.18) per share basic

and diluted, for the first quarter of 2025.

· The

Company’s non-GAAP results in the table below reflect positive Adjusted EBITDA of $0.6

million, or $0.02 per share basic and diluted for the first quarter of 2026. This compares

to negative Adjusted EBITDA of $(0.9) million, or $(0.04) loss per share basic diluted for

the first quarter of 2025. Adjusted EBITDA, Adjusted EBITDA per share basic and Adjusted

EBITDA per share diluted are non-GAAP financial measures, each of which are reconciled to

the most directly comparable financial measures calculated in accordance with GAAP below.

· At

March 31, 2026, the Company had $27.2 million in cash and cash equivalents as compared to

$24.1 million in cash and cash equivalents at December 31, 2025.

Recent Corporate

Highlights:

· Emrosi®

prescriptions totaled 29,968 for the first quarter of 2026 versus 27,023 in the fourth quarter

of 2025.

· On

April 21, 2026, the Company announced that it secured a contract with the third largest Group

Purchasing Organization (GPO) in the United States for Emrosi®.

With this contract in place, approximately 85% of all commercial lives in the nation have

access to Emrosi®. Expanded

payer access is anticipated to facilitate further growth in Emrosi®

prescription demand.

Conference Call

and Webcast Information

Journey Medical

management will conduct a conference call and audio webcast on May 13, 2026, at 4:30 p.m. ET.

To listen to the

conference call, interested parties within the U.S. should dial 1-866-777-2509 (domestic) or 1-412-317-5413 (international). All callers

should dial in approximately 10 minutes prior to the scheduled start time and ask to be joined into the Journey Medical conference call.

Participants can register for the conference call here: https://dpregister.com/sreg/10209171/10401b25258. Please note that registered

participants will receive their dial-in number upon registration.

A live audio webcast

can be accessed on the News and Events page of the Investors section of Journey Medical’s website, www.journeymedicalcorp.com,

and will remain available for replay for approximately 30 days after the meeting.

(1)       We

define gross margin as total revenue less cost of goods sold divided by total revenue.

About Journey

Medical Corporation

Journey Medical

Corporation (Nasdaq: DERM) (“Journey Medical”) is a commercial-stage pharmaceutical company that primarily focuses on developing,

selling and marketing FDA-approved prescription pharmaceutical products for the treatment of dermatological conditions through its efficient

sales and marketing model. The Company currently markets eight branded FDA-approved prescription drugs that help treat and heal common

skin conditions. The Journey Medical team comprises industry experts with extensive experience in developing and commercializing some

of dermatology’s most successful prescription brands. Journey Medical is located in Scottsdale, Arizona and was founded by Fortress

Biotech, Inc. (Nasdaq: FBIO). Journey Medical’s common stock is registered under the Securities Exchange Act of 1934, as amended,

and it files periodic reports with the U.S. Securities and Exchange Commission (“SEC”). For additional information about

Journey Medical, visit www.journeymedicalcorp.com.

Forward-Looking

Statements

This press release

may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and

Section 21E of the Securities Exchange Act of 1934, as amended. As used below and throughout this press release, the words “the

Company”, “we”, “us” and “our” may refer to Journey Medical. Such statements include, but are

not limited to, any statements relating to our growth strategy and product development programs and any other statements that are not

historical facts. The words “anticipate,” “believe,” “continue,” “estimate,” “may,”

“expect,” “will,” “could,” “project,” “intend,” “potential” and

similar expressions are generally intended to identify forward-looking statements. Forward-looking statements are based on management’s

current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial

condition and stock price. Factors that could cause actual results to differ materially from those currently anticipated include: the

fact that our products and product candidates are subject to time and cost intensive regulation and clinical testing and as a result,

may never be successfully developed or commercialized; a substantial portion of our sales derive from products that may become subject

to third-party generic competition because their period of exclusivity has ended or they are without patent protection, subjecting them

to the potential introduction of new competitor products and/or an increase in market share of existing competitor products, either of

which could have a significant adverse impact on our operating income; we operate in a heavily regulated industry, and we cannot predict

the impact that any future legislation or administrative or executive action may have on our operations; our revenue is dependent mainly

upon sales of our dermatology products and any setback relating to the sale of such products could impair our operating results; competition

could limit our products’ commercial opportunity and profitability, including competition from manufacturers of generic versions

of our products; the risk that our products do not achieve broad market acceptance, including by government and third-party payors; our

reliance on third parties for several aspects of our operations; our dependence on our ability to identify, develop, and acquire or in-license

products and integrate them into our operations, at which we may be unsuccessful; the dependence of the success of our business, including

our ability to finance our company and generate additional revenue, on the successful commercialization of Emrosi®

and the successful development, regulatory approval and commercialization of any future product candidates that we may develop, in-license

or acquire; clinical drug development is very expensive, time consuming, and uncertain and our clinical trials may fail to adequately

demonstrate the safety and efficacy of our current or any future product candidates; our competitors could develop and commercialize

products similar or identical to ours; risks related to the protection of our intellectual property and our potential inability to maintain

sufficient patent protection for our technology and products; our business and operations would suffer in the event of computer system

failures, cyber-attacks, or deficiencies in our or our third parties’ cybersecurity; the substantial doubt expressed about our

ability to continue as a going concern; the effects of major public health issues, epidemics or pandemics on our product revenues and

any future clinical trials; our potential need to raise additional capital; Fortress controls a voting majority of our common stock,

which could be detrimental to our other shareholders; as well as other risks described in Part I, Item 1A, “Risk Factors,”

in our Annual Report on Form 10-K for the year ended December 31, 2025, subsequent Reports on Form 10-Q, and our other filings we make

with the SEC. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking

statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which

any such statement is based, except as may be required by law, and we claim the protection of the safe harbor for forward-looking statements

contained in the Private Securities Litigation Reform Act of 1995.

Company Contact:

Jaclyn Jaffe

(781) 652-4500

ir@jmcderm.com

Media Relations Contact:

Tony Plohoros

6 Degrees

(908) 591-2839

tplohoros@6degreespr.com

JOURNEY

MEDICAL CORPORATION

Unaudited

Condensed Consolidated Balance Sheets

($

in thousands except for share and per share amounts)

March

31,

December

31,

2026

2025

ASSETS

Current assets

Cash and cash equivalents

$ 27,219

$ 24,090

Accounts receivable, net of reserves

24,992

29,783

Inventory

9,292

9,624

Prepaid expenses

and other current assets

3,464

3,376

Total current assets

64,967

66,873

Intangible assets, net

26,479

27,605

Operating lease

right-of-use asset, net

88

111

Total assets

$ 91,534

$ 94,589

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities

Accounts payable

$ 8,202

$ 8,851

Due to related party

472

455

Accrued expenses

26,102

27,567

Accrued interest

390

398

Income taxes payable

70

70

Term loan, short-term

2,500

-

Operating lease

liability, short-term

94

101

Total current liabilities

37,830

37,442

Term loan, long-term, net of discount

22,873

25,277

Operating lease liability, long-term

-

18

Total liabilities

60,703

62,737

Stockholders' equity

Common stock, $.0001 par value, 50,000,000

shares authorized, 21,333,946 and 21,144,655 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively

2

2

Common stock - Class A, $.0001 par

value, 50,000,000 shares authorized, 6,000,000 shares issued and outstanding as of March 31, 2026 and December 31, 2025

1

1

Additional paid-in capital

131,516

130,307

Accumulated deficit

(100,688 )

(98,458 )

Total stockholders'

equity

30,831

31,852

Total liabilities

and stockholders' equity

$ 91,534

$ 94,589

JOURNEY

MEDICAL CORPORATION

Unaudited

Condensed Consolidated Statements of Operations

($

in thousands except for share and per share amounts)

Three-Month

Periods Ended

March

31,

2026

2025

Revenue:

Product

revenue, net

$ 15,921

$ 13,139

Other

revenue

40

-

Total revenue

15,961

13,139

Operating expenses

Cost of

goods sold – (excluding amortization of acquired intangible assets)

6,218

4,790

Amortization

of acquired intangible assets

1,126

1,065

Research

and development

-

39

Selling,

general and administrative

10,109

10,569

Total operating

expenses

17,453

16,463

Loss from operations

(1,492 )

(3,324 )

Other expense (income)

Interest

income

(157 )

(149 )

Interest

expense

892

891

Foreign

exchange transaction losses

3

7

Total other

expense

738

749

Loss before income taxes

(2,230 )

(4,073 )

Income

tax expense

-

-

Net

loss

$ (2,230 )

$ (4,073 )

Net loss per common share:

Basic and

diluted

$ (0.08 )

$ (0.18 )

Weighted average number of common shares:

Basic and

diluted

27,305,028

22,611,040

Use of Non-GAAP Measures:

In addition to the GAAP financial measures

as presented in our Form 10-Q that will be filed with the Securities and Exchange Commission (“SEC”), the Company has, in

this press release, included certain non-GAAP measurements, including EBITDA, Adjusted EBITDA, Adjusted EBITDA per share basic and Adjusted

EBITDA per share diluted. We define EBITDA as net income (loss) excluding interest, taxes and depreciation and amortization and we define

Adjusted EBITDA as net income (loss) excluding interest, taxes and depreciation, less certain other non-cash and/or infrequent items

not considered to be normal, recurring operating expenses, including, share-based compensation expense, amortization and impairments

of acquired intangible assets, inventory step-ups from the purchases of intangibles assets and products, severance, and foreign exchange

transaction losses.

In particular,

we exclude the following matters for the reasons more fully described below:

·

Share-Based Compensation Expense: We exclude

share-based compensation from our adjusted financial results because share-based compensation expense, which is non-cash, although

a recurring expense, fluctuates from period to period based on factors that are not within our control, such as our stock price on

the dates share-based grants are issued.

·

Amortization and impairments of Acquired Intangible

assets: We exclude the impact of certain amounts recorded in connection with the acquisitions of intangible assets that

are either non-cash or not normal, recurring operating expenses due to their nature, variability of amounts, and lack of predictability

as to occurrence and/or timing. These amounts may include non-cash items such as the amortization impairments of acquired intangible

assets and amortization of step-ups of acquisition accounting adjustments to inventories.

Beginning in the

first quarter of 2026, we no longer exclude short-term research and development expenses (including any one-time license and milestone

payments) from our Non-GAAP Adjusted EBITDA results. Prior period Non-GAAP Adjusted EBITDA results have been revised to reflect this

change.

Adjusted EBITDA

per share basic and Adjusted EBITDA per share diluted are determined by dividing the resulting Adjusted EBITDA by the number of shares

outstanding on an actual and fully diluted basis.

Management believes

the use of these non-GAAP measures provides meaningful supplemental information regarding the Company’s performance because (i)

they allow for greater transparency with respect to key measures used by management in its financial and operational decision-making,

(ii) they exclude the impact of non-cash or, when specified, non-recurring items that are not directly attributable to the Company’s

core operating performance and that may obscure trends in the Company’s core operating performance and (iii) they are used by institutional

investors and the analyst community to help analyze the Company's results. However, Adjusted EBITDA, Adjusted EBITDA per share basic,

Adjusted EBITDA per share diluted and any other non-GAAP financial measures should be considered as a supplement to, and not as a substitute

for, or superior to, the corresponding measures calculated in accordance with GAAP. Further, non-GAAP financial measures used by the

Company and the manner in which they are calculated may differ from the non-GAAP financial measures or the calculations of the same non-GAAP

financial measures used by other companies, including the Company’s competitors.

The table below

provides a reconciliation from GAAP to non-GAAP measures:

JOURNEY

MEDICAL CORPORATION

(unaudited)

Reconciliation

of GAAP to Non-GAAP Adjusted EBITDA

($ in thousands

except for share and per share amounts)

Three-Month Periods

Ended

March

31,

2026

2025

GAAP Net Loss

$ (2,230 )

$ (4,073 )

EBITDA:

Interest

735

742

Taxes

-

-

Amortization

of acquired intangible assets

1,126

1,065

EBITDA

(369 )

(2,266 )

Non-GAAP Adjusted  EBITDA:

Non-Cash Components:

Share-based compensation

989

1,323

Non-Core and

Infrequent Components:

Foreign

exchange transaction losses

3

7

Non-GAAP Adjusted

EBITDA

$ 623

$ (936 )

Net loss & Non-GAAP Adjusted

EBITDA per common share:

Basic

GAAP Net Loss

$ (0.08 )

$ (0.18 )

Non-GAAP Adjusted EBITDA

$ 0.02

$ (0.04 )

Diluted

GAAP Net Loss

$ (0.08 )

$ (0.18 )

Non-GAAP Adjusted EBITDA

$ 0.02

$ (0.04 )

Weighted average number of common

shares:

GAAP - Basic & Diluted

27,305,028

22,611,040

Non-GAAP - Basic

27,305,028

22,611,040

Non-GAAP - Diluted

29,701,725

22,611,040

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- Definition

Two-character EDGAR code representing the state or country of incorporation.

+ References

No definition available.

+ Details

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dei_EntityIncorporationStateCountryCode

Namespace Prefix:

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Data Type:

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Period Type:

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- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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dei_EntityRegistrantName

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- Definition

The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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Name:

dei_EntityTaxIdentificationNumber

Namespace Prefix:

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Data Type:

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Period Type:

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- Definition

Local phone number for entity.

+ References

No definition available.

+ Details

Name:

dei_LocalPhoneNumber

Namespace Prefix:

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Data Type:

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Balance Type:

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Period Type:

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

+ Details

Name:

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Namespace Prefix:

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Data Type:

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Balance Type:

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Period Type:

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

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Namespace Prefix:

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Data Type:

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- Definition

Title of a 12(b) registered security.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

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Data Type:

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Balance Type:

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Period Type:

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- Definition

Name of the Exchange on which a security is registered.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

+ Details

Name:

dei_SecurityExchangeName

Namespace Prefix:

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Data Type:

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Balance Type:

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Period Type:

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

+ Details

Name:

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Namespace Prefix:

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Data Type:

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Balance Type:

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Period Type:

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- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

+ Details

Name:

dei_TradingSymbol

Namespace Prefix:

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Data Type:

dei:tradingSymbolItemType

Balance Type:

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Period Type:

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

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