BFRI - Biofrontera nears a three-month high as topline growth resumes in 2021

The shares of Biofrontera (NASDAQ:BFRI) are trading higher for the second straight session on Friday to reach the highest level since January after the dermatology-focused biopharma company said its growth momentum returned in 2021. Chief Executive of Biofrontera (BFRI) Erica Monaco made the announcement with the company’s Q4 2021 financials, which indicated $24.1M in revenue for 2021 with ~28% YoY growth, compared to a ~28% YoY decline in the prior year. “Despite continued challenges resulting from the COVID-19 pandemic, we returned to topline growth in 2021 and sales have now recovered to near pre-pandemic levels including a seasonally strong fourth quarter,” she added. Revenue for the fourth quarter rose ~7% YoY to $9.2M as the company raised the market share within the PDT drug segment to ~26%, up from ~24% in the previous year. However, net loss expanded to $14.2M from $0.2M in the prior-year period, while operating expenses jumped

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Biofrontera nears a three-month high as topline growth resumes in 2021