Biofrontera Inc. (BFRI) is a biopharmaceutical enterprise, marketing products for various dermatological conditions using photodynamic therapy and topical antibiotics. The company’s stock price gained a hefty 14.1% to be at $4.04 at the finish of Thursday’s trading. Its price rose further as of the writing in the aftermarket session by 14.6%.
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BFRI: Recent Developments
BFRI announced its unaudited and preliminary product revenues on April 6, for the three months ended March 31. The product revenues for Q1 2022 were estimated to be $9.5-$10.0 million, showing a gain of up to 102-113% in comparison to Q1 2021. The company expects to issue Q1 2022 financials in May 2022 and the preliminary revenues demonstrated here are just the estimates and outcomes may differ from the preliminary estimations. The robust growth in the revenue during Q1 2022 reflects Ameluz advanced purchasing, along with a fairly soft previous-year comparison.
BFRI: Industry Outlook
The international biopharmaceutical industry is making strides recently despite the ongoing chaos as a result of the political unrest associated with Russia and Ukraine and the pandemic. Many giant biopharmaceuticals are continuing their operations in the war-struck countries voluntarily rather than making a profit in this difficult situation. The specific industry remained mostly bullish in the recent past with a CAGR of 5.6%, a growth projection up to $1.6 trillion through 2025.
BFRI: Company Outlook
The company closed its strongest post-pandemic revenue quarter and the second strongest quarter on record. The company’s shares rose by 79% in the last month as a sign of improved and constant growth in the dermatology segment in the US. Some other notable activities making waves in the recent past include showcasing its product line at the Annual Meeting of AAD and the listing of the BF-RhodoLED XL illumination device in FDA’s Orange Book.
Although the company’s shares did not show decent performance in the past year, still it is making waves in the industry. As the company announced its record Q1 2022 product revenues, the stock price continued to outshine and still, it is gaining pace in the current aftermarket.