Biofrontera Inc. Announces Preliminary Revenue for the Fourth Quarter and Full Year 2021
14 January 2022 - 12:45AM
Biofrontera
Inc. (Nasdaq: BFRI)
(the “Company”), a biopharmaceutical company specializing in the
commercialization of dermatological products, today announced
preliminary, unaudited revenue for the quarter and full year ended
December 31, 2021.
Revenue for the fourth quarter of 2021 is
anticipated to be in the range of approximately $9.1 million to
$9.2 million, an increase of approximately 7% over the same quarter
last year.
Revenue for the full year 2021 is anticipated to
be in the range of $24.1 million to $24.2 million, an increase of
approximately 27% over full year 2020.
"I am proud of the hard work by our sales teams
across the country. Our team has performed well during the fourth
quarter, with revenue meeting our expectations," said Erica Monaco,
CEO of Biofrontera Inc. “Our performance is a testament to the
strong market positioning of our portfolio products. Despite the
ongoing challenges due to the COVID-19 pandemic, we have achieved a
return to topline growth in 2021. We are excited about the
opportunities ahead to continue building long-term value for our
shareholders.”
The preliminary unaudited revenue results
described in this press release are estimates only and are based
only on currently available information. Our final revenue results
upon completion of our closing procedures may vary from the
preliminary revenue estimates. We expect to issue our full audited
financial results for the fourth quarter and fiscal year 2021 in
March 2022.
About Biofrontera Inc.
Biofrontera Inc. is a U.S.-based
biopharmaceutical company commercializing a portfolio of
pharmaceutical products for the treatment of dermatological
conditions with a focus on photodynamic therapy (PDT) and topical
antibiotics. The Company’s licensed products are used for the
treatment of actinic keratoses, which are pre-cancerous skin
lesions, as well as impetigo, a bacterial skin infection. For more
information, visit www.biofrontera-us.com.
Forward-Looking Statements
Certain statements in this press release may
constitute "forward-looking statements" within the meaning of the
United States Private Securities Litigation Reform Act of 1995, as
amended to date. These statements include, but are not limited to,
the Company’s estimated revenue for the fourth quarter and year
ended December 31, 2021, the performance of the Company’s sales
team, the strength of the Company’s portfolio and statements
relating to the future performance of the Company and opportunities
for growth. We have based these forward-looking statements on our
current expectations and projections about future events,
nevertheless, actual results or events could differ materially from
the plans, intentions and expectations disclosed in, or implied by,
the forward-looking statements we make. These risks and
uncertainties, many of which are beyond our control, including, but
not limited to, the impact of extraordinary external events, such
as the current COVID-19 pandemic and its evolving nature; any
changes in the Company’s relationship with its licensors; the
outcome of the Company’s litigation with DUSA Pharmaceuticals,
Inc.,; the Company’s ability to achieve and sustain profitability;
whether the current disruptions in the supply chain will impact the
Company’s ability to obtain and distribute its licensed products;
changes in the practices of healthcare providers, including any
changes to the coverage, reimbursement and pricing for procedures
using the Company’s licensed products; the uncertainties inherent
in the initiation and conduct of clinical trials; availability and
timing of data from clinical trials; whether results of early
clinical trials or trials in different disease indications will be
indicative of the results of ongoing or future trials; whether
results of the studies described above will be indicative of
results for any future clinical trials and studies of Ameluz® in
combination with BF-RhodoLED®; uncertainties associated with
regulatory review of clinical trials and applications for marketing
approvals; whether the market opportunity for Ameluz® in
combination with RhodoLED® lamps is consistent with the Company’s
expectations; whether the Company will be able to successfully
transition to a public company operating independently of
Biofrontera AG; the Company’s ability to retain and hire key
personnel; the sufficiency of cash resources and need for
additional financing and other factors that may be disclosed in the
Company’s filings with the SEC, which can be obtained on the SEC
website at www.sec.gov. Readers are cautioned not to place undue
reliance on the forward-looking statements, which speak only as of
the date on which they are made and reflect management's current
estimates, projections, expectations and beliefs. The Company does
not plan to update any such forward-looking statements and
expressly disclaims any duty to update the information contained in
this press release except as required by law.
Contacts
Biofrontera Inc.Pamela Keck+1
781 486 1539us-ir@biofrontera.com
LHA Investor RelationsTirth T.
Patel+1 212 201 6614tpatel@lhai.com
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