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Biofrontera Inc. Announces Preliminary Revenues for the Fourth Quarter and Full Year 2023
WOBURN, MA / ACCESSWIRE / January 11, 2024 / Biofrontera Inc. (Nasdaq:BFRI), a biopharmaceutical company specializing in the commercialization of
About this update from Biofrontera Inc.
[{"type":"text","content":"WOBURN, MA / ACCESSWIRE / January 11, 2024 / Biofrontera Inc. (Nasdaq:BFRI), a biopharmaceutical company specializing in the commercialization of dermatological products, today announced preliminary, unaudited revenues for the three and twelve months ended December 31, 2023.Biofrontera achieved 2023 revenue of approximately $33.8 million to $34.3 million, a record high and up approximately 19% growth compared with 2022. Revenues for the fourth quarter of 2023 are anticipated to be in the range of approximately $10.4 million to $10.9 million, an increase of approximately 5% compared with the fourth quarter of 2022. After a slow start in the first quarter of the year, Biofrontera grew revenues significantly over the following quarters. Sales increased strongly between 34% and 37% in the second half of the year compared to the prior year. The very strong growth in the third quarter was supported by a price increase on October 1 and some buy-in of customers. While our fourth quarter sales grew a little less than expected from that, we could still maintain the growth trajectory in the quarter, resulting in our solid second half year growth.The preliminary, unaudited revenues described in this press release are estimates only and are based on currently available information. Final results may vary from the preliminary revenue estimates. Biofrontera expects to report financial results for the fourth quarter and full year 2023 in March 2024. Details concerning that announcement and conference call will be provided in the coming weeks.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 (PDT) 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 www.biofrontera-us.com.Forward-Looking StatementsCertain statements in this press release may constitute \"forward-looking statements\" within the meaning of the United States Private Securities Litigation Reform Act of 1995, as amended to date. These statements include, but are not limited to, the Company's preliminary revenues for the three and twelve months ended De...