Biofrontera reports preliminary revenue for the month of April 2021
Biofrontera AG (NASDAQ: BFRA) reported a significant increase in preliminary, unaudited revenue for April 2021, totaling approximately EUR 2,491 thousand, marking a 406% rise compared to EUR 492 thousand in April 2020. The company noted strong growth across markets: 447% increase in the US, 208% in Germany, and 1247% in the rest of Europe. Compared to April 2019, total product sales increased by 8%. The sales recovery indicates a positive trend, likely influenced by COVID-19 vaccinations.
- 406% increase in preliminary revenue compared to April 2020.
- 447% growth in US product sales year-over-year.
- 208% growth in Germany's product sales year-over-year.
- 1247% increase in product sales in the rest of Europe year-over-year.
- 8% total product sales growth compared to April 2019.
- Total revenue in April 2021 (EUR 2,491 thousand) was lower than the one-time revenue of EUR 6,602 thousand in April 2020 (due to a down payment from a licensing agreement).
- Overall revenue reported for January-April 2021 (EUR 7,969 thousand) is lower than 2020 (EUR 13,075 thousand).
Leverkusen, Germany, May 06, 2021 (GLOBE NEWSWIRE) -- Biofrontera AG (NASDAQ: BFRA; Frankfurt Stock Exchange: B8F) (the “Company”), an international biopharmaceutical company, today reported preliminary, unaudited revenue for the month of April 2021.
The Company’s preliminary, unaudited revenue from product sales in April 2021 amounted to approximately EUR 2,491 thousand, compared to EUR 492 thousand in April 2020, an increase of
Preliminary revenues from product sales in the US were around EUR 1,821 thousand compared to EUR 333 thousand in April 2020, an increase of
Preliminary unaudited revenues
| April | January - April | |||||
| in EUR thousands | 2021 | 2020 | 2019 | 2021 | 2020 | 2019 |
| USA | 1,821 | 333 | 1,767 | 5.631 | 4,513 | 6,939 |
| Germany | 441 | 143 | 353 | 1,845 | 1,453 | 1,425 |
| Europe (ex Germany) | 229 | 17 | 191 | 493 | 836 | 755 |
| Total revenue from product sales | 2,491 | 492 | 2,311 | 7,969 | 6,802 | 9,119 |
| Revenues from R&D projects and license payments | - | 6,110 | 44 | - | 6,273 | 44 |
| Total revenue | 2,491 | 6,602 | 2,355 | 7,969 | 13,075 | 9,163 |
For better comparability, the Company also included the monthly sales performance before the pandemic in 2019. Compared to 2019, total product sales in 2021 were up
The sales increase compared to the previous year already perceived since mid-March 2021, especially in our most important sales market, the USA, continued strongly in April 2021. This indicates a significant recovery of the COVID-19 situation in the USA as well as in Germany - presumably also due to the high vaccination rates.
-End-
Biofrontera AG
Pamela Keck, Head of Investor Relations
ir@biofrontera.com
+49-214-87632-0
About Biofrontera:
Biofrontera AG is a biopharmaceutical company specializing in the development and sale of dermatological drugs and medical cosmetics.
The Germany-based company, with over 150 employees worldwide, develops and markets innovative products for the care, protection and treatment of the skin. The company’s lead product is the combination of Ameluz®, a topical prescription drug, and medical device BF-RhodoLED® for the photodynamic therapy of certain superficial skin cancers and their precursors. Ameluz® has been marketed in the EU since 2012 and in the United States since May 2016. In addition, the company markets the prescription medication Xepi® for the treatment of impetigo in the United States. In the EU, the company also sells the dermocosmetics series Belixos®, which offers specialized care for damaged or diseased skin.
Biofrontera is the first German founder-led pharmaceutical company to receive a centralized European and a US approval for a drug developed in-house. The Biofrontera Group was founded in 1997 by the current CEO Prof. Dr. Hermann Lübbert and is listed on the Frankfurt Stock Exchange (Prime Standard) and on the US NASDAQ.www.biofrontera.com.
Forward-Looking Statements: Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the public offering and the intended use of proceeds from the offering.
These statements may be identified by the use of forward-looking words such as "anticipate," "believe," "forecast," "estimate" and "intend," among others. Such forward-looking statements are based on the currently held beliefs and assumptions of the management of Biofrontera AG, which are expressed in good faith and, in their opinion, reasonable. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance, or achievements of the Company, or industry results, to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements. These risks, uncertainties and other factors are set forth in the Registration Statement on Form F-1 filed with the SEC, including in the section "Risk Factors," and in future reports filed with the SEC. Given these risks, uncertainties and other factors, prospective investors are cautioned not to place undue reliance on these forward-looking statements. The Company does not undertake an obligation to update or revise any forward-looking statement.
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