Biofrontera, Inc. ( (BFRI) ) has released its Q4 earnings. Here is a breakdown of the information Biofrontera, Inc. presented to its investors.
Biofrontera Inc. is a U.S.-based biopharmaceutical company that focuses on the commercialization of dermatological products, particularly in the field of photodynamic therapy (PDT) for treating skin conditions such as actinic keratosis and non-melanoma skin cancers. The company is known for its Ameluz drug and RhodoLED lamp series, which are used in PDT treatments.
In its latest earnings report for the fiscal year 2024, Biofrontera Inc. announced record total revenues of $37.3 million, marking a 9.5% increase from the previous year. This growth was largely attributed to increased sales volume and pricing of Ameluz, as well as the successful launch of the RhodoLED XL Lamp.
Key financial highlights include a reduction in total operating expenses to $54.5 million, down from $56.7 million in 2023, and a significant improvement in cash and cash equivalents, which rose to $5.9 million from $1.3 million at the end of 2023. The company also restructured agreements with its former parent, reducing the transfer price of Ameluz, and achieved significant milestones in clinical trials, including FDA approval for expanded use of Ameluz.
Despite these achievements, Biofrontera reported a net loss of $17.8 million for the year, an improvement from the $20.1 million loss in 2023. The company continues to focus on strategic investments in sales and marketing, as well as clinical development, to support future growth.
Looking ahead, Biofrontera’s management remains optimistic about continued growth and expansion. The company plans to enhance customer support and efficiency in delivering PDT services while advancing its clinical development programs, positioning itself strongly for future opportunities in the dermatological treatment market.