Company: DERM
Filing Date: 2025-08-28
Form Type: 424B3
Source: 0001104659-25-084876
Chunk: 15

Company: Journey Medical Corp
Filing Date: 2025-08-28
Form: 424B3
Chunk 15
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centive Plan and 189,895 shares reserved for issuance under the Journey Medical 2023 Employee
Stock Purchase Plan.

The table above assumes for illustrative purposes that an aggregate
of 3,750,000 shares of our common stock are sold during the term of the Sales Agreement with the Agents at a price of $7.40 per share,
the last reported sale price of our common stock on The Nasdaq Capital Market on August 25, 2025, for aggregate gross proceeds of
$27.8 million. The shares subject to the Sales Agreement with the Agents are being sold from time to time at various prices. An increase
of $1.00 per share in the price at which the shares are sold from the assumed offering price of $7.40 per share shown in the table above,
assuming all 3,750,000 shares of our common stock are sold at that price during the term of the Sales Agreement with the Agents, would
increase our pro forma as adjusted net tangible book value per share to $0.73 per share and would change the dilution in net tangible
book value per share to new investors in this offering to $7.67 per share, after deducting commissions and estimated aggregate offering
expenses payable by us. A decrease of $1.00 per share in the price at which the shares are sold from the assumed offering price of $7.40
per share shown in the table above, assuming all 3,750,000 shares of our common stock are sold at that price during the term of the Sales
Agreement with the Agents, would decrease our pro forma as adjusted net tangible book value per share to $0.46 per share and would change
the dilution in net tangible book value per share to new investors in this offering to $5.94 per share, after deducting commissions and
estimated aggregate offering expenses payable by us. This information is supplied for illustrative purposes only and assumes no exercise
of the options or warrants outstanding as of June 30, 2025. For more information, see “Description of Capital Stock.”

To the extent that options and warrants outstanding
as of June 30, 2025 have been or may be exercised or other shares issued, investors purchasing our common stock in this offering
may experience further dilution. In addition, we may choose to raise additional capital due to market conditions or strategic considerations
even if we believe we have sufficient funds for our current or future operating plans. To the extent that additional