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

6 Months Ended

Jun. 30, 2023

ACCRUED EXPENSES

ACCRUED EXPENSES

NOTE 10. ACCRUED EXPENSES

Accrued expenses consisted of the following:


	June 30,		December 31,
($’s in thousands)	2023		2022
Accrued expenses:
Accrued coupons and rebates	$	12,509	$	7,604
Return reserve		4,545		3,689
Accrued compensation		2,064		2,586
Accrued royalties payable		2,199		2,627
Accrued severance		133		-
Accrued legal, accounting and tax		284		334
Accrued research and development		111		1,404
Accrued inventory		112		112
Accrued iPledge program		621		447
Other		751		585
Total accrued expenses	$	23,329	$	19,388

During the six-month period ended June 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 $133,000 remains to be paid at June 30, 2023. The accured severance obligation is included within accrued compensation in the above table.