Full Press Release Details
Inc. Announces Preliminary Revenues
the Fourth Quarter and Full Year 2022
Mass. (January 9, 2023) - Biofrontera Inc. (Nasdaq: BFRI), a biopharmaceutical company specializing in the commercialization
of dermatological products, today announced preliminary, unaudited revenues for the three and 12 months ended December 31, 2022.
for the fourth quarter of 2022 are anticipated to be in the range of approximately $10.2 million to $10.4 million, an increase of approximately
12% compared with the fourth quarter of 2021. These projections result in 2022 revenue of approximately $28.7 million to $28.9 million,
a record high and up approximately 20% compared with 2021.
Biofrontera team continues to implement our strategy to expand the use of Ameluz -PDT for the treatment of patients with
actinic keratosis," said Erica Monaco, Chief Executive Officer of Biofrontera, Inc. "Our record 2022 revenue is an important
step forward while we continue to build the commercial infrastructure necessary to effectively address and grow in our attractive target
market. We are looking forward to building momentum as we move through 2023."
preliminary, unaudited revenues described in this press release are estimates only and are based on currently available information.
Final results may vary from the preliminary revenue estimates. Biofrontera expects to report financial results for the fourth quarter
and full year 2022 in March 2023. Details concerning that announcement and conference call will be provided in the coming weeks.
Inc. management will be in San Francisco from January 9-11, 2023 during the 41st Annual J.P. Morgan Healthcare Conference
holding meetings with investors, analysts and prospective business partners. Please email tpatel@lhai.com to request a meeting.
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.
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 preliminary
revenues for the three and twelve months ended December 31, 2022, statements relating to the Company's business and marketing strategy,
the development of the Company's sales and marketing teams and the potential to expand the label of Ameluz . 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; any changes in the Company's relationship with its licensors; the ability of the
Company's licensors to fulfill their obligations to the Company in a timely manner; the Company's ability to achieve and
sustain profitability; whether the current global disruptions in supply chains 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 earlier clinical trials or trials of Ameluz in
combination with BF-RhodoLED in different disease indications or product applications will be indicative of the results of ongoing
or future trials; uncertainties associated with regulatory review of clinical trials and applications for marketing approvals; whether
the market opportunity for Ameluz in combination with BF-RhodoLED is consistent with the Company's expectations; the
Company's ability to complete the transition to a public company; 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.