Biofrontera reports preliminary revenue for the month of May 2021
June 07 2021 - 10:00AM
Biofrontera AG (NASDAQ: BFRA; Frankfurt Stock Exchange: B8F) (the
“Company”), an international biopharmaceutical company, today
reported preliminary, unaudited revenue for the month of May 2021.
The Company’s preliminary, unaudited revenue
from product sales in May 2021 amounted to approximately EUR 2,437
thousand, compared to EUR 1,172 thousand in May 2020, an increase
of 108%.
Preliminary revenues from product sales in the
US were around EUR 1,638 thousand compared to EUR 599 thousand in
May 2020, an increase of 174%. In Germany, revenues from product
sales amounted to approximately EUR 425 thousand, compared to EUR
540 thousand in May 2020, a decrease of 21%. Despite the pandemic,
sales in Germany had developed positively last year, and in May in
particular, we saw catch-up effects from the lock-down month of
April 2020. In the rest of Europe, the Company generated product
sales of around EUR 374 thousand, compared to EUR 33 thousand in
May 2020, a plus of 1,041%.
Preliminary unaudited
revenues
|
May |
January -
May |
in EUR
thousands |
2021 |
2020 |
2019 |
2021 |
2020 |
2019 |
USA |
1,638 |
599 |
1,764 |
7,288 |
5,112 |
8,702 |
Germany |
425 |
540 |
419 |
2,272 |
1,993 |
1,844 |
Europe
(ex Germany) |
374 |
33 |
241 |
867 |
869 |
996 |
Total revenue from product sales |
2,437 |
1,172 |
2,424 |
10,427 |
7,975 |
11,543 |
Revenues from R&D projects
and license payments |
0 |
120 |
64 |
0 |
6,392 |
108 |
Total revenue |
2,437 |
1,292 |
2,488 |
10,427 |
14,367 |
11,651 |
Due to commercial rounding, rounding differences
may occur in tables.
Due to the pandemic, the monthly sales
development is compared with sales in 2019 for increased
transparency. As such, a slight increase of 1% in May 2021 total
product sales was achieved in all markets compared to May 2019. In
more detail, May 2021 sales were up by 1% in Germany and by 55% in
the remaining European markets compared to May 2019. In the USA,
product sales decreased by 7%. The decline was mainly caused by no
or lower sales of Aktipak® and Xepi®, respectively, while sales of
Ameluz® were at a comparable level.
The recovery in product sales compared to 2020
as well as to 2019, which has been perceived since mid-March 2021,
thus continued in May 2021. This indicates a significant recovery
of the COVID-19 situation.
-End-
Biofrontera AGPamela Keck, Head of Investor
Relationsir@biofrontera.com +49-214-87632-0
About Biofrontera: Biofrontera
AG is a biopharmaceutical company specializing in the development
and sale of dermatological drugs and medical cosmetics.
The Germany-based company, with over 150
employees worldwide, develops and markets innovative products for
the care, protection and treatment of the skin. The company’s lead
product is the combination of Ameluz®, a topical prescription drug,
and medical device BF-RhodoLED® for the photodynamic therapy of
certain superficial skin cancers and their precursors. Ameluz® has
been marketed in the EU since 2012 and in the United States since
May 2016. In addition, the company markets the prescription
medication Xepi® for the treatment of impetigo in the United
States. In the EU, the company also sells the dermocosmetics series
Belixos®, which offers specialized care for damaged or diseased
skin.
Biofrontera is the first German founder-led
pharmaceutical company to receive a centralized European and a US
approval for a drug developed in-house. The Biofrontera Group was
founded in 1997 by the current CEO Prof. Dr. Hermann Lübbert and is
listed on the Frankfurt Stock Exchange (Prime Standard) and on the
US NASDAQ.www.biofrontera.com.
Forward-Looking Statements: Certain statements
in this press release are forward-looking within the meaning of the
Private Securities Litigation Reform Act of 1995 regarding the
public offering and the intended use of proceeds from the
offering.
These statements may be identified by the use of
forward-looking words such as "anticipate," "believe," "forecast,"
"estimate" and "intend," among others. Such forward-looking
statements are based on the currently held beliefs and assumptions
of the management of Biofrontera AG, which are expressed in good
faith and, in their opinion, reasonable. Forward-looking statements
involve known and unknown risks, uncertainties and other factors,
which may cause the actual results, financial condition,
performance, or achievements of the Company, or industry results,
to differ materially from the results, financial condition,
performance or achievements expressed or implied by such
forward-looking statements. These risks, uncertainties and other
factors are set forth in the Registration Statement on Form F-1
filed with the SEC, including in the section "Risk Factors," and in
future reports filed with the SEC. Given these risks, uncertainties
and other factors, prospective investors are cautioned not to place
undue reliance on these forward-looking statements. The Company
does not undertake an obligation to update or revise any
forward-looking statement.
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