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Biofrontera Inc
Biofrontera Inc. Reports Third Quarter and Nine-Month 2024 Financial Results and Provides Business Update
Business
Nov 13 2024
5 min read

Biofrontera Inc. Reports Third Quarter and Nine-Month 2024 Financial Results and Provides Business Update

 Total revenues for the third quarter 2024 were $9.0 million, an increase of 1.5% from Q3 2023. Revenue increase would have been 19% if shipments were not delayed due to Hurricane Milton.
   
 Total revenues for the first 9 months were $24.8 million, an increase of $1.3 million, or 5.6% as compared to the same period last year. Without the impact of Hurricane Milton delaying shipments, the increase would have been 12%.
   
 Ameluz® achieved record volume in September 2024.  
   
 Organization continues to prudently manage SG&A expenses in line with business needs with a reduction of 14% in the first 9 months of 2024 vs 2023.
   
 Cash and cash equivalents were $2.9 million as of September 30, 2024, compared with $1.3 million on December 31, 2023.
   
 RhodoLED XL launch continues to be successful with 39 installed since launch in late June 2024; additionally, 66 BF-RhodoLED lamps have been installed in the first three quarters of 2024.  
   
 On October 4 FDA approved sNDA to increase the maximally allowed dosage of Ameluz® from one tube to three tubes per treatment.
   
 Preliminary results of Phase 3 sBCC study are highly statistically significant for all primary and secondary endpoints (p