Journey Medical Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

ACCRUED EXPENSES

ACCRUED EXPENSES

9 Months Ended

Sep. 30, 2023

ACCRUED EXPENSES

ACCRUED EXPENSES

NOTE 10. ACCRUED EXPENSES

Accrued expenses consisted of the following:


	September 30,		December 31,
($’s in thousands)	2023		2022
Accrued expenses:
Accrued coupons and rebates	$	6,099	$	7,604
Return reserve		4,523		3,689
Accrued compensation		2,392		2,586
Accrued royalties payable		1,794		2,627
Accrued legal, accounting and tax		217		334
Accrued research and development		117		1,404
Accrued inventory		112		112
Accrued iPledge program		136		447
Other		636		585
Total accrued expenses	$	16,026	$	19,388

During the nine-month period ended September 30, 2023, the Company executed a headcount reduction to its salesforce and implemented marketing and other cost cuts. As a result of the headcount reduction, the Company recorded a severance obligation of approximately $0.7 million, of which $0.1 million remains to be paid at September 30, 2023. The accrued severance obligation is included within accrued compensation in the above table.