Leverkusen, Germany, April 12, 2018 (GLOBE NEWSWIRE) -- Biofrontera AG (NASDAQ:BFRA) (ISIN: DE0006046113), the specialist for the treatment of sun-induced skin cancer, today announced preliminary unaudited revenue for the first quarter of fiscal year 2018.
The preliminary unaudited revenues of Biofrontera group for the period January to March 2018 were between 4.6 and 4.7 million euros. This corresponds to a sales growth of approx. 80% compared to the previous year, with pure product sales increasing by approximately 107%.
Preliminary unaudited quarterly product sales in the USA are expected to be approximately EUR 3.4 million, compared to EUR 1.3 million in the same period in 2017; product sales in Germany and Europe will be approximately EUR 1.2 million, compared to EUR 0.9 million in Q1 2017.
Overall, sales in the first quarter of 2018 were thus significantly higher than in the previous year and are further proof of the company's successful growth strategy.
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IR and PR US: The Ruth Group
IR: Tram Bui
PR: Kirsten Thomas
Biofrontera AG is an international biopharmaceutical company specializing in the development and commercialization of a platform of pharmaceutical products for the treatment of dermatological conditions and diseases caused primarily by exposure to sunlight that results in sun damage to the skin. Biofrontera’s approved products focus on the treatment in the U.S. and Europe of actinic keratoses, which are skin lesions that can sometimes lead to skin cancer, as well as the treatment of certain forms of basal cell carcinoma in the European Union. American Depositary Shares representing Biofrontera’s ordinary shares are listed on the NASDAQ Capital Market under the symbol “BFRA”, and Biofrontera’s ordinary shares are listed in the Frankfurt Stock Exchange (B8F, ISIN: DE0006046113). Information is also available at www.biofrontera.com.
Forward Looking Statements:
Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the public offering and the intended use of proceeds from the offering. These statements may be identified by the use of forward-looking words such as "anticipate," "believe," "forecast," "estimate" and "intend," among others. Such forward-looking statements are based on the currently held beliefs and assumptions of the management of Biofrontera AG, which are expressed in good faith and, in their opinion, reasonable. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance, or achievements of the Company, or industry results, to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements. These risks, uncertainties and other factors are set forth in the Registration Statement on Form F-1 filed with the SEC, including in the section “Risk Factors,” and in future reports filed with the SEC. Given these risks, uncertainties and other factors, prospective investors are cautioned not to place undue reliance on these forward-looking statements. The Company does not undertake an obligation to update or revise any forward-looking statement.
Source: Biofrontera AG