Business
Biofrontera Inc. Announces Preliminary Product Revenues for the First Quarter of 2022
WOBURN, Mass., April 06, 2022 (GLOBE NEWSWIRE) -- Biofrontera Inc. (Nasdaq: BFRI), a biopharmaceutical company specializing in the commercialization of
About this update from Biofrontera Inc.
[{"type":"text","content":"WOBURN, Mass., April 06, 2022 (GLOBE NEWSWIRE) -- Biofrontera Inc. (Nasdaq: BFRI), a biopharmaceutical company specializing in the commercialization of dermatological products, announced today preliminary, unaudited product revenues for the quarter ended March 31, 2022. Product revenues for the first quarter of 2022 are anticipated to be in the range of approximately $9.5 million to $10.0 million, representing an increase of approximately 102% to 113% compared with the first quarter of 2021. “Our sales success is a testament to the market’s growing preference for our products and the ability of our sales team to further penetrate high-value customer accounts. Having just closed our strongest revenue quarter post-pandemic, and our second strongest quarter on record, we are well-positioned for a productive year ahead as we continue to make strides with advancing our pipeline and patent strategy, strengthening our financial position and increasing our market share through sustained growth in the U.S. dermatology market,” commented Erica Monaco, Chief Executive Officer of Biofrontera Inc. The preliminary unaudited product revenues described in this press release are estimates only and are based on currently available information. Final results may vary from the preliminary product revenues estimates. Biofrontera expects to report financial results for the first quarter of 2022 in May 2022. The strong growth in product revenues in the 2022 first quarter may reflect some advance purchasing of Ameluz® ahead of a planned April 1, 2022 price increase, as well as a relatively soft prior-year comparison that did not benefit from pull-through as there was no similar price increase. About Biofrontera Inc. Biofrontera Inc. is a U.S.-based biopharmaceutical company commercializing a portfolio of pharmaceutical products for the treatment of dermatological conditions with a focus on photodynamic therapy and topical antibiotics. The Company’s licensed products are used for the treatment of actinic keratoses, which are pre-cancerous skin lesions, as well as impetigo, a bacterial skin infection. For more information, visit https://www.biofrontera-us.com. Forward-Looking Statements Certain statements in this press release may constitute \"forward-looking statements\" within the meaning of the United States Private Securities Litigation Reform Act of...