Biofrontera reports preliminary revenue for the month of August 2021
Biofrontera AG (NASDAQ: BFRA) reported preliminary revenue for August 2021 totaling approximately EUR 1,485 thousand, marking an 11% increase from EUR 1,341 thousand in August 2020. The US sales contributed around EUR 1,027 thousand (up 12%), while Germany saw a modest rise to EUR 349 thousand (up 1%). The rest of Europe experienced a significant increase of 38%, reaching EUR 109 thousand. Year-to-date product sales rose by 25% in Germany and 21% in other European markets compared to 2019, although US sales fell by 12% due to earlier pandemic-related weaknesses.
- Total revenue for August 2021 increased by 11% year-over-year.
- US sales rose by 12% to EUR 1,027 thousand compared to August 2020.
- Revenue in Germany increased slightly by 1% to EUR 349 thousand.
- Product sales in the rest of Europe surged by 38% compared to last year.
- Year-to-date sales increased by 25% in Germany and 21% in the rest of Europe compared to 2019.
- US product sales decreased by 12% year-to-date compared to the same period in 2019.
Leverkusen, Germany, Sept. 08, 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 August 2021.
The Company’s preliminary, unaudited revenue from product sales in August 2021 amounted to approximately EUR 1,485 thousand, compared to EUR 1,341 thousand in August 2020, an increase of
Preliminary revenues from product sales in the US were around EUR 1,027 thousand compared to EUR 917 thousand in August 2020, an increase of
Preliminary unaudited revenues
| August | January - August | |||||
| in EUR thousands | 2021 | 2020 | 2019 | 2021 | 2020 | 2019 |
| USA | 1,027 | 917 | 983 | 10,709 | 8,060 | 12,110 |
| Germany | 349 | 345 | 256 | 3,424 | 3,280 | 2,746 |
| Europe (ex Germany) | 109 | 79 | 103 | 2,016 | 1,200 | 1,670 |
| Total revenue from product sales | 1,485 | 1,341 | 1,342 | 16,149 | 12,539 | 16,526 |
| Revenues from R&D projects and license payments | 0 | 0 | 48 | 0 | 6,493 | 323 |
| Total revenue | 1,485 | 1,341 | 1,391 | 16,149 | 19,032 | 16,849 |
Due to commercial rounding, rounding differences may occur in tables.
Due to the pandemic, the monthly and year-to-date sales development is compared with sales in 2019 for increased transparency. As such, an increase of
Compared to 2019, product sales in all markets were down by around
-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 annual report on Form 20-F filed with the SEC, including Item 3.D. "Key Information - 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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