WOBURN, Mass., Oct. 05, 2022 (GLOBE NEWSWIRE) — Biofrontera Inc. (Nasdaq: BFRI), a biopharmaceutical firm specializing within the commercialization of dermatological merchandise, at present introduced preliminary unaudited product revenues for the three and 9 months ended September 30, 2022.
Product revenues for the third quarter of 2022 are anticipated to be roughly $4.3 million, per the third quarter of 2021. These projections lead to product revenues for the primary 9 months of 2022 anticipated to be roughly $18.5 million up roughly 24% in contrast with the primary 9 months of 2021. Year-to-date 2022 product revenues are at a file excessive, and are up roughly 26% over the comparable interval within the pre-Covid 12 months 2019.
“Our work to increase adoption of photodynamic therapy (PDT) for the treatment of actinic keratosis (AK) continued during the third quarter, which historically is the seasonally softest sales quarter of the year. Importantly, we remain on track to achieve our guidance for 2022 total revenues to increase by at least 30% compared with 2021 as we achieve deeper sales penetration among current customer accounts,” acknowledged Erica Monaco, Chief Executive Officer of Biofrontera Inc.
“Our sales and marketing teams have recently been recognized with multiple awards and accolades, and we’re proud of the impact they’re having on patient health,” she added. “We look forward to elevating Biofrontera’s brand among dermatologists through label expansion and marketing to capture the potential of Ameluz®.”
The preliminary unaudited product revenues described on this press launch are estimates solely and are based mostly on at present out there data. Final outcomes could range from the preliminary product revenues estimates. Biofrontera expects to report monetary outcomes for the third quarter of 2022 within the first half of November 2022. Details regarding that announcement and convention name shall be offered within the coming weeks.
About Biofrontera Inc.
Biofrontera Inc. (the “Company”) is a U.S.-based biopharmaceutical firm commercializing a portfolio of pharmaceutical merchandise for the remedy of dermatological circumstances with a concentrate on photodynamic remedy (PDT) and topical antibiotics. The Company’s licensed merchandise are used for the remedy of actinic keratoses, that are pre-cancerous pores and skin lesions, in addition to impetigo, a bacterial pores and skin an infection. For extra data, go to www.biofrontera-us.com.
Forward-Looking Statements
Certain statements on this press launch could represent “forward-looking statements” inside the which means of the United States Private Securities Litigation Reform Act of 1995, as amended so far. These statements embody, however should not restricted to, the Company’s preliminary product revenues for the three and 9 months ended September 30, 2022, the Company’s monetary steering for 2022, will increase within the adoption of PDT, statements regarding the Company’s expectations for its business and advertising technique, the flexibility of the Company’s gross sales and advertising groups to extend gross sales to present buyer accounts and the potential to broaden the label of Ameluz®. We have based mostly these forward-looking statements on our present expectations and projections about future occasions, nonetheless, precise outcomes or occasions may differ materially from the plans, intentions and expectations disclosed in, or implied by, the forward-looking statements we make. These dangers and uncertainties, lots of that are past our management, together with, however not restricted to, the influence of extraordinary exterior occasions, comparable to the present COVID-19 pandemic; any adjustments within the Company’s relationship with its licensors; the flexibility of the Company’s licensors to meet their obligations to the Company in a well timed method; the Company’s potential to attain and maintain profitability; whether or not the present world disruptions in provide chains will influence the Company’s potential to acquire and distribute its licensed merchandise; adjustments within the practices of healthcare suppliers, together with any adjustments to the protection, reimbursement and pricing for procedures utilizing the Company’s licensed merchandise; the uncertainties inherent within the initiation and conduct of scientific trials; availability and timing of information from scientific trials; whether or not outcomes of earlier scientific trials or trials of Ameluz® together with BF-RhodoLED® in numerous illness indications or product functions shall be indicative of the outcomes of ongoing or future trials; uncertainties related to regulatory assessment of scientific trials and functions for advertising approvals; whether or not the market alternative for Ameluz® together with BF-RhodoLED® is per the Company’s expectations; the Company’s potential to finish the transition to a public firm; the Company’s potential to retain and rent key personnel; the sufficiency of money assets and want for further financing and different components that could be disclosed within the Company’s filings with the SEC, which might be obtained on the SEC web site at www.sec.gov. Readers are cautioned to not place undue reliance on the forward-looking statements, which communicate solely as of the date on which they’re made and replicate administration’s present estimates, projections, expectations and beliefs. The Company doesn’t plan to replace any such forward-looking statements and expressly disclaims any responsibility to replace the data contained on this press launch besides as required by legislation.
Contacts
Biofrontera Inc.
Anke zur Mühlen
+1 781 486 1539
[email protected]
LHA Investor Relations
Tirth T. Patel
+1 212 201 6614
[email protected]
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