Biofrontera reports preliminary revenue for the month of July 2021
August 09 2021 - 8:00AM
Biofrontera AG (NASDAQ: BFRA; Frankfurt Stock Exchange: B8F) (the
“Company”), an international biopharmaceutical company, today
reported preliminary, unaudited revenue for the month of July 2021.
The Company’s preliminary, unaudited revenue
from product sales in July 2021 amounted to approximately EUR 1,570
thousand, compared to EUR 1,523 thousand in July 2020, an increase
of 3%.
Preliminary revenues from product sales in the
US were around EUR 1,026 thousand compared to EUR 795 thousand in
July 2020, an increase of 29%. In Germany, revenues from product
sales amounted to approximately EUR 357 thousand, compared to EUR
572 thousand in July 2020, a decrease of 38%. In this context, the
relatively high comparative sales in July 2020 in Germany resulted
from catch-up effects due to the weak previous months caused by the
pandemic. In the rest of Europe, the Company generated product
sales of around EUR 187 thousand, compared to EUR 156 thousand in
July 2020, a plus of 20%.
Preliminary unaudited
revenues
|
July |
January -
July |
in EUR
thousands |
2021 |
2020 |
2019 |
2021 |
2020 |
2019 |
USA |
1,026 |
795 |
895 |
9,683 |
7,142 |
11,126 |
Germany |
357 |
572 |
336 |
3,075 |
2,935 |
2,490 |
Europe
(ex Germany) |
187 |
156 |
210 |
1,906 |
1,121 |
1,567 |
Total revenue from product sales |
1,570 |
1,523 |
1,441 |
14,664 |
11,198 |
15,183 |
Revenues from R&D projects
and license payments |
0 |
52 |
113 |
0 |
6,493 |
275 |
Total revenue |
1,570 |
1,575 |
1,554 |
14,664 |
17,691 |
15,459 |
Due to commercial rounding, rounding differences
may occur in tables.
Due to the pandemic, the monthly and
year-to-date sales development is also compared with sales in 2019
for increased transparency. As such, an increase of 9% in July 2021
for total product sales was achieved in all markets compared to
July 2019. In the USA, product sales increased by about 15%
compared to July 2019. In July 2021, sales were up by around 6% in
Germany while sales revenue in the remaining European markets
decreased by approximately 11% compared to July 2019.
Compared to 2019, product sales in all markets
were down by around 3% compared to sales in the period January to
July 2021. Year-to-date sales in 2021 increased by around 23% in
Germany and by 22% in the rest of the European market compared to
the same period in 2019. Revenue in the US market was down 13%,
mainly due to weak sales in January, February, and the first half
of March this year due to the pandemic, as well as the lack of or
lower sales of Aktipak® and Xepi® compared to the period January to
July 2019.
-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 annual report on Form 20-F filed with
the SEC, including Item 3.D. "Key Information - 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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