BFRI - Biofrontera GAAP EPS of -$0.05 revenue of $4.5M; reaffirms FY22 guidance

• Biofrontera press release ( NASDAQ: BFRI ): Q2 GAAP EPS of -$0.05.
• Revenue of $4.5M (-23.7% Y/Y).
• As of June 30, 2022, Biofrontera Inc. had cash and cash equivalents of $31.9M, 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.
• Adjusted EBITDA was negative $8.0M for the second quarter of 2022, compared with negative $2.9M for the second quarter of 2021.
• Biofrontera Inc. affirms its previously announced financial guidance for 2022 , as follows: Total revenues for 2022 are expected to increase by at least 30% compared with 2021 vs. estimated growth of 36.24% 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, with additions to the Biofrontera sales force expected to begin in 2023

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