Biofrontera Inc. (NASDAQ:BFRI), a biopharmaceutical company specializing in the commercialization of dermatological products, today announced preliminary unaudited product revenues for the three and nine months ended September 30, 2022.
Product revenues for the third quarter of 2022 are anticipated to be approximately $4.3 million, consistent with the third quarter of 2021. These projections result in product revenues for the first nine months of 2022 expected to be approximately $18.5 million up approximately 24% compared with the first nine months of 2021. Year-to-date 2022 product revenues are at a record high, and are up approximately 26% over the comparable period in the pre-Covid year 2019.
“Our work to increase adoption of photodynamic therapy (PDT) for the treatment of actinic keratosis (AK) continued during the third quarter, which historically is the seasonally softest sales quarter of the year. Importantly, we remain on track to achieve our guidance for 2022 total revenues to increase by at least 30% compared with 2021 as we achieve deeper sales penetration among current customer accounts,” stated Erica Monaco, Chief Executive Officer of Biofrontera Inc.
“Our sales and marketing teams have recently been recognized with multiple awards and accolades, and we’re proud of the impact they’re having on patient health,” she added. “We look forward to elevating Biofrontera’s brand among dermatologists through label expansion and marketing to capture the potential of Ameluz®.”
