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Biofrontera AG (NASDAQ: BFRA) reports preliminary revenue of approximately EUR 1,570 thousand for July 2021, a 3% increase from EUR 1,523 thousand in July 2020. US sales rose by 29% to EUR 1,026 thousand, while Germany faced a 38% decline to EUR 357 thousand. The company achieved 9% overall growth in product sales compared to July 2019. Year-to-date sales show a 23% rise in Germany and a 22% increase in the rest of Europe, despite a 13% decline in the US market due to earlier pandemic impacts.
Biofrontera Pharma GmbH and Medac entered a 5-year exclusive license and supply agreement for Ameluz® and BF-RhodoLED® in Poland. Medac will pay a one-time upfront fee of EUR 50,000 and EUR 150,000 after drug reimbursement approval. Medac gains exclusive distribution rights and will manage commercialization in Poland, while Biofrontera oversees regulatory affairs and manufacturing. This collaboration aims to enhance photodynamic therapy for skin cancers in the Polish market.
Biofrontera AG has confirmed it holds 100% of the shares of Biofrontera Inc., based in the U.S. The company is considering a potential IPO for Biofrontera Inc. in the United States to secure additional capital for growth and to establish a public market for its shares. A registration statement has been filed with the SEC but is not yet effective, meaning no securities can be sold until it is. The press release includes cautionary forward-looking statements regarding the offering and associated risks.
Biofrontera AG (NASDAQ: BFRA) reported preliminary unaudited revenues of approximately EUR 2,626 thousand for June 2021, marking a significant 50% increase compared to EUR 1,701 thousand in June 2020. Sales in the US rose 11% to EUR 1,375 thousand, with strong growth of 770% in other European markets. Compared to June 2019, total product sales increased 19%, driven by 35% growth in Germany. However, US sales declined 10% due to lower sales of certain products. Overall, Q2 2021 showed a 10% increase in product sales versus Q2 2019.
Biofrontera AG (NASDAQ: BFRA) provided an update on clinical developments on June 22, 2021. The FDA confirmed the sufficiency of data for the BF-RhodoLED® XL approval process while recommending expanded safety data for Ameluz®, which is being studied for simultaneous use of three tubes in photodynamic therapy. A phase IIb trial for Ameluz® targeting moderate to severe acne is set to begin in late 2021. Additionally, recruitment in a study for superficial basal cell carcinoma is progressing, with 60% of participants enrolled.
Biofrontera AG (NASDAQ: BFRA) reported a 108% increase in preliminary, unaudited revenue from product sales for May 2021, totaling approximately EUR 2,437 thousand compared to EUR 1,172 thousand in May 2020. The US sales surged by 174% to around EUR 1,638 thousand, while Germany saw a 21% decline to EUR 425 thousand. Notably, the rest of Europe experienced a significant 1,041% increase. Compared to May 2019, total product sales grew by 1%, revealing a recovery from the pandemic.
Biofrontera AG (NASDAQ: BFRA) reported a 15% decline in Q1 2021 revenues, totaling EUR 5,479 thousand, down from EUR 6,473 thousand in Q1 2020. Despite challenges from the ongoing pandemic, the company noted a positive sales trend since March. U.S. sales fell 9% to EUR 3,811 thousand, while Germany saw a 7% increase to EUR 1,404 thousand. Operating costs decreased by 29%, and cash reserves rose to EUR 37,333 thousand, following a capital increase. The company maintains its guidance of annual revenues between EUR 25-32 million.
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.
Biofrontera AG (NASDAQ: BFRA) will announce its financial results for Q1 2021 on May 11, 2021. Following this, two conference calls will be held on May 12, 2021. The first, in German, is scheduled for 10:00 am CEST (4:00 am EST); the second, in English, will take place at 2:00 pm CEST (8:00 am EST). Stakeholders can dial in using specific numbers for Germany, USA, and UK. Biofrontera specializes in dermatological drugs and medical cosmetics, with products like Ameluz® and Xepi® on the market.
Biofrontera AG (NASDAQ: BFRA) reported a 3% decline in FY2020 revenue to EUR 30.3 million, with a loss from operations of EUR 7.6 million, significantly improved from EUR 23.4 million in 2019. Net loss before tax increased to EUR 12.7 million. Total cash reserves rose to EUR 16.5 million. Key developments included a license agreement with Maruho Co., Ltd., EU approval for Ameluz® body treatment, and the completion of a pharmacokinetics study for PDT safety. The company expects revenue of EUR 25 to 32 million in 2021, citing recovery from the pandemic.
