BFRI - Biofrontera reports Q3 earnings beat; updates FY22 revenue guidance range

• Biofrontera press release ( NASDAQ: BFRI ): Q3 GAAP EPS of -$0.11 beats by $0.18 .
• Revenue of $4.32M (-0.2% Y/Y) beats by $0.01M .
• As of September 30, 2022, Biofrontera had cash and cash equivalents of $27.5M, 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.
• Financial Guidance : Biofrontera Inc. is revising its previously announced financial guidance for 2022, as follows: Total revenues for 2022 are expected to increase between 24% and 31% compared with 2021, vs. estimated growth of 32.17% 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 and increasing market share.

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