Business
Biofrontera Inc. Announces Preliminary Second Quarter Revenues are Up 26% to 31%
Management Reaffirms Full-Year 2023 Revenue Growth of at least 25% over Prior YearWOBURN, MA / ACCESSWIRE / July 13, 2023 / Biofrontera Inc. (Nasdaq:BFRI)
About this update from Biofrontera Inc.
[{"type":"text","content":"Management Reaffirms Full-Year 2023 Revenue Growth of at least 25% over Prior YearWOBURN, MA / ACCESSWIRE / July 13, 2023 / Biofrontera Inc. (Nasdaq:BFRI) (\"Biofrontera\" or the \"Company\"), a biopharmaceutical company specializing in the commercialization of dermatologic products, today announced preliminary unaudited revenues for the three months ended June 30, 2023.Revenues for the second quarter of 2023 are anticipated to be in the range of approximately $5.7 million to $5.9 million, an increase of approximately 26% to 31% compared with the second quarter of 2022. As a result, revenues for the first half of 2023 are anticipated to be in the range of approximately $14.4 million to $14.6 million, representing growth of approximately 1% to 3% compared with the first half of 2022.\"We are proud of the hard work of our commercial teams, which resulted in year-over-year revenue growth without the benefit of a price increase for Ameluz® as we had in 2022. The revenue trends and record-high second quarter results reflect increasing adoption among dermatologists of photodynamic therapy for the field treatment of actinic keratosis. Of note, our sales force has been successful in securing larger contracts, which will help make our quarterly financial results more predictable. New hires have performed admirably well while the balance of our maturing salesforce is executing to plan,\" said Hermann Luebbert, Chief Executive Officer and Chairman of Biofrontera Inc.Biofrontera Inc. affirms its previously announced expectations for full-year 2023 growth in revenue to be at least 25% compared with 2022.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 Inc. expects to report financial results for the second quarter of 2023 in August 2023. 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 products for the treatment of dermatologic 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 wel...