BFRI - Biofrontera announces preliminary Q3 product revenue stock falls ~7% after hours
- Biofrontera ( NASDAQ: BFRI ) on Wednesday said it expects product revenues for Q3 2022 to be about $4.3M, consistent with the same quarter last year but below consensus revenue estimates.
- Shares of the biopharmaceutical company lost 7.2% to $1.03 in aftermarket trading.
- The consensus Q3 revenue estimate for BFRI is $4.76M.
- BFRI said the third quarter is historically its seasonally softest sales quarter of the year.
- The company added that it was on track to achieve its previously provided guidance for 2022 total revenues to increase by at least 30% compared to 2021.
- The consensus 2022 revenue estimate is for a 32.17% Y/Y growth to $31.85M.
- BFRI anticipates reporting its Q3 financial results in the first half of Nov.
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Biofrontera announces preliminary Q3 product revenue, stock falls ~7% after hours