Biofrontera Inc. Reports Third Quarter 2025 Financial Results and Provides a Business Update | Taiwan News | Nov. 13, 2025 21:15

Woburn, MA, Nov. 13, 2025 — Biofrontera Inc. (NASDAQ: BFRI), a biopharmaceutical company focused on photodynamic therapy (PDT) in dermatology, reported financial results for the three and nine months ended September 30, 2025, and provided a business update.

Financial Highlights

• Revenue for the first nine months of 2025 was $24.6 million, essentially flat versus $24.8 million in the same period of 2024.
• Third-quarter 2025 revenue was $7.0 million compared to $9.0 million in Q3 2024, reflecting customers’ advance purchases ahead of the October 2024 price increase.
• Management expects fourth-quarter 2025 revenue to benefit from normalization of purchasing patterns, supporting substantial year-over-year annual growth.
• Operating expenses in Q3 2025 decreased 5% year over year.
• Cash and cash equivalents were $3.4 million as of September 30, 2025.

Recent Operational Highlights

• Completed the purchase of all U.S. Ameluz and RhodoLED assets from Biofrontera AG; new U.S. earnout structure of 12%–15% of net sales replaces prior 25%–35% transfer-pricing model.
• Received the final $2.5 million of an $11 million financing in October, led by existing healthcare-focused institutional investors.
• Divested Xepi antibiotic cream to Pelthos Pharmaceuticals for $3 million at closing, $1 million upon commercial availability, and up to $6 million in revenue-based milestones.
• Final patient completed active treatment in the Phase 3 trial of Ameluz for mild to moderate actinic keratoses (AKs) on the extremities, neck, and trunk.
• Final patient completed participation in the Phase 2b trial evaluating Ameluz for moderate to severe acne vulgaris (AV).

Management Commentary

CEO and Chairman Hermann Luebbert said the Company remains on track to meet full-year sales objectives, supported by growing demand for Ameluz-PDT. He noted that the Q3 revenue decline was expected due to prior-year buying patterns ahead of a price increase and that purchasing trends have begun to normalize, positioning Biofrontera for a strong fourth quarter.

Luebbert highlighted the Company’s focused, data-driven commercial strategy and continued education efforts that are expanding the installed base of RhodoLED lamps, supporting recurring, high-margin Ameluz gel sales. He also emphasized the strategic impact of acquiring all U.S. rights, approvals, and patents for Ameluz and RhodoLED, which is expected to enhance gross margins and long-term profitability. The new royalty structure of 12% below $65 million in U.S. revenue and 15% above that level replaces the former 25%–35% model and provides greater financial leverage as the brand grows.

With the recently completed financing and proceeds from the Xepi divestiture, Luebbert stated that the Company’s liquidity supports a clear path toward sustained growth and profitability. He reiterated the potential to expand Ameluz’s label to treat AK across the entire body and the opportunity to be the first FDA-approved PDT for superficial basal cell carcinoma and acne vulgaris.

Third Quarter 2025 Results

• Total revenue: $7.0 million vs. $9.0 million in Q3 2024, primarily due to 2024 advance purchases ahead of a price increase.
• Total operating expenses: $13.3 million vs. $14.0 million in Q3 2024.
• Cost of revenues decreased 58% year over year, driven by a reduced Ameluz cost related to the Company assuming clinical trial expenses.
• Selling, general and administrative expense (SG&A): $10.4 million vs. $8.4 million, reflecting higher legal costs from patent-related matters, partially offset by personnel and other savings.
• Net loss: $6.6 million vs. $5.7 million in Q3 2024.
• Adjusted EBITDA: negative $6.0 million vs. negative $4.6 million in Q3 2024. Adjusted EBITDA is a non-GAAP measure that excludes interest, taxes, depreciation and amortization, and certain non-cash or non-recurring items.

Nine Months Ended September 30, 2025

• Total revenue: $24.6 million vs. $24.8 million in the prior-year period.
• Total operating expenses: $40.5 million vs. $40.3 million, with higher legal expenses offset by reduced operational costs.
• Cost of revenues: $8.0 million vs. $13.3 million, reflecting the reduced transfer price agreed in 2024 related to the Company taking over clinical development costs.
• SG&A: $29.6 million vs. $25.6 million, primarily from increased legal expense, partially offset by lower personnel costs and reduced sales support and equity issuance expenses.
• Net loss: $16.2 million vs. $16.4 million in the prior year.
• Adjusted EBITDA: negative $15.7 million vs. negative $13.9 million.
• Cash balance: $3.4 million as of September 30, 2025.

Conference Call

The Company will host a conference call today, Thursday, November 13, 2025, at 10:00 a.m. ET.

About Biofrontera Inc.

Biofrontera Inc. is a U.S.-based biopharmaceutical company commercializing pharmaceutical products for dermatologic conditions using photodynamic therapy. Its products are used to treat actinic keratoses, with additional indications in development.

Forward-Looking Statements

This article contains forward-looking statements, including statements about revenue expectations, business strategy, growth, liquidity, market opportunities, clinical development plans, and other non-historical matters. These statements are based on current expectations and projections and are subject to risks and uncertainties that could cause actual results to differ materially, including reliance on sales of current products, competitive dynamics, manufacturing and supply considerations, intellectual property matters, reimbursement and regulatory changes, availability of financing, and the ability to attract and retain key personnel. For a discussion of these and other risks, please refer to the Company’s filings with the U.S. Securities and Exchange Commission. The Company does not undertake to update forward-looking statements except as required by law.