Biofrontera Q1 revenue down 9% to $7.9M; net loss $10.4M; Ameluz license renegotiated

Biofrontera Inc.

2024-Q1 EPS reported -$2.88 revenue$7,912,000

Q1 revenue $7.9M, down 9% YoY from $8.7M due to Change Healthcare data breach reimbursement issues.
Net loss $10.4M ($2.88 per share) vs $7.5M ($5.60 per share) in prior year; loss per share improved due to share count increase.
Cash $3.8M at quarter end vs $1.3M at Dec 31, 2023; raised $8M via preferred placement plus $8M via warrant exercises.
Renegotiated Ameluz transfer price to 25% for 2024-2025 (down from 40-50%) and will assume US clinical trial management from June 1.
FDA accepted sNDA for Ameluz dosage from 1 to 3 tubes; final decision expected by Oct 4, 2024; new RhodoLED XL lamp sales expected Q2 2024.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Biofrontera Inc. reported the three months ended March 31, 2024 results: revenue $7.9 million, net income $10.4 million, or $(2.88) per share, EPS $(2.88) per share.

Period: the three months ended March 31, 2024
Revenue: $7.9 million
Net income: $10.4 million, or $(2.88) per share
EPS: $(2.88) per share
Result: reported results

Exact text from the filing

2024 and provided a business update. Highlights from the first quarter of 2024 and subsequent weeks included the following: ● Total revenues for the first quarter of 2024 were $7.9 million, a 9% decrease from the same period of the prior year primarily driven by reimbursement headwinds our customers experienced due to the Change Healthcare data breach ● Cash and

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Source: SEC EDGAR

accession 0001493152-24-020031

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