BFRI - Biofrontera falls 13% after Q3 2021 results reveal significantly wider net loss

Shares of Biofrontera (BFRI -13.9%) were hit this morning after the company reported Q3 2021 results that included a significant increase in net loss compared to the year-ago period. Its net loss widened ~436% to ~$16M driven by negative EBITDA in the quarter of ~$15.8M. Operating expenses quarter over quarter skyrocketed from $5.6M to $20.4M. Biofrontera said it was hurt in the quarter by an significant increase in SG&A expenses due to a one-time legal settlement expense, marketing campaign expenses, and increased headcount. Biofrontera ended the quarter with $1.7M in cash. The company yesterday priced a $15M stock offering in private placement.

For further details see:

Biofrontera falls 13% after Q3 2021 results reveal significantly wider net loss