“8:00a ET 7/12/2022 - Globe Newswire
Biofrontera Inc. Announces Preliminary Product Revenues for the Second Quarter of 2022
EQNX::TICKER_START (NASDAQ:BFRI ),(NASDAQ:BFRIW), EQNX::TICKER_END Biofrontera Inc. (Nasdaq: BFRI), a biopharmaceutical company specializing in the commercialization of dermatological products, announced today preliminary unaudited product revenues for the six and three months ended June 30, 2022.
For the first half of 2022, product revenues are anticipated to be in the range of approximately $14.1 million to $14.3 million, representing an increase of approximately 34% to 36% compared with the first half of 2021. This represents the strongest first six-month revenues of a year Biofrontera ever had, 102-105% higher than in 2020 and 22-24% higher than the pre-Covid year 2019.
As anticipated because of the effect of a price increase, product revenues for the second quarter of 2022 are expected to be in the range of approximately $4.4 million to $4.6 million, representing a decrease of approximately 21% to 25% compared with the second quarter of 2021.
"I'm proud of the performance by our sales team as we continue to expand awareness of Ameluz, achieve deeper penetration among current customer accounts and drive sales for the brand. Second quarter product revenues reflect the April 1, 2022 price increase that resulted in some advance purchases of Ameluz in the first quarter," commented Erica Monaco, Chief Executive Officer of Biofrontera Inc. "Despite the expected year-over-year quarterly decline, year-to-date product revenues increased. We continue to execute toward upcoming clinical milestones and remain on track with previously-announced financial guidance for 2022 total revenues to increase by at least 30% compared with 2021, including typical seasonal strength in the first and fourth quarters."
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 second quarter of 2022 in August 2022. Details concerning that announcement and conference call will be provided in the coming weeks.”
my posts are always theory and not financial advice
