- Biofrontera press release (NASDAQ:BFRI): Q3 GAAP EPS of -$0.11 beats by $0.18.
- Revenue of $4.32M (-0.2% Y/Y) beats by $0.01M.
- As of September 30, 2022, Biofrontera had cash and cash equivalents of $27.5M, compared with $24.5M as of December 31, 2021.
- The company believes its cash and cash equivalents are sufficient to fund operations for at least the next 12 months.
- Financial Guidance: Biofrontera Inc. is revising its previously announced financial guidance for 2022, as follows: Total revenues for 2022 are expected to increase between 24% and 31% compared with 2021, vs. estimated growth of 32.17% Y/Y including typical seasonal strength in the first and fourth quarters.
The commercial focus throughout 2022 will be on achieving deeper sales penetration among current customer accounts and increasing market share.