Biofrontera (BFRI) Company Report

Biofrontera reported Q3 2025 revenues of $7.0 million, a 22% decrease compared to Q3 2024, primarily due to a temporary comparison effect from advanced purchases in Q3 2024 ahead of a price increase. Year-to-date revenues for the first nine months of 2025 were $24.6 million, approximately flat compared to the same period in 2024.
The company's net loss for Q3 2025 was $6.6 million and Adjusted EBITDA was negative $6.0 million. For the first nine months of 2025, the net loss was $16.2 million and Adjusted EBITDA was negative $15.7 million.
Biofrontera acquired all U.S. rights, approvals, and patents for Ameluz and Rhodoled, establishing a new royalty structure of 12% or 15% based on U.S. Ameluz revenue, replacing a prior 25%-35% transfer pricing model.
The company completed the sale of its Xepi license, receiving $3 million at closing with potential for an additional $7 million, and secured an $11 million investment. These proceeds, combined with commercial execution, are expected to lead to cash flow breakeven for fiscal year 2026.
Biofrontera plans to submit a new FDA application for Ameluz to treat superficial basal cell carcinoma in the coming weeks, with commercialization expected in Q4 2026. They also completed patient enrollment for Phase 3 and Phase 2b trials for other indications.

Nov 13, 2025, 3:00 PM

Biofrontera Inc. Reports Third Quarter 2025 Financial Results

BFRI

Earnings

Guidance Update

M&A

Biofrontera Inc. reported total revenues of $7.0 million for the third quarter of 2025 and $24.6 million for the first nine months of 2025. The company experienced a net loss of $6.6 million for Q3 2025 and $16.2 million for the first nine months of 2025.
The company completed the purchase of all Ameluz and RhodoLED US Assets from Biofrontera AG, which is expected to significantly enhance gross margins and strengthen long-term profitability by reducing the payment rate to 12%-15% of U.S. net sales from 25%-35%.
Biofrontera Inc. announced the divestiture of its Xepi antibiotic cream to Pelthos Pharmaceuticals for $3 million at closing, with potential for up to $7 million in additional payments.
The cash balance as of September 30, 2025, was $3.4 million , and the company received the final $2.5 million of an $11 million financing in October 2025.
Management expects 4Q25 revenues to compensate for the Q3 effect and result in substantial annual year-over-year growth.

Nov 13, 2025, 1:30 PM

Biofrontera Inc. Reports Q3 2025 Financial Results and Business Update

BFRI

Earnings

Guidance Update

M&A

Biofrontera Inc. reported $24.6 million in revenues for the first nine months of 2025, which was stable compared to the same period in 2024, and $7.0 million for the third quarter of 2025. The company anticipates 4Q25 revenues to compensate for the Q3 lag, leading to substantial annual year-over-year growth and achievement of full-year sales objectives.
The company's net loss for the third quarter of 2025 was $6.6 million, and its cash balance as of September 30, 2025, was $3.4 million.
Biofrontera Inc. completed the purchase of all Ameluz and RhodoLED US Assets, which is expected to significantly enhance gross margins by reducing the payment rate to 12%-15% of U.S. net sales from the previous 25%-35%.
The company also received the final $2.5 million of an $11 million financing in October and announced the divestiture of its Xepi antibiotic cream for $3 million at closing, with potential for up to $6 million in milestone payments.

Nov 13, 2025, 1:15 PM

Biofrontera Inc. announces sale of Xepi® license to Pelthos Therapeutics Inc.

BFRI

M&A

New Projects/Investments

Biofrontera Inc. (BFRI) divested its US license for Xepi® (ozenoxacin) Cream, 1% to Pelthos Therapeutics Inc. on November 6, 2025.
The transaction is valued at up to $10 million, consisting of $3 million received at closing, an additional $1 million upon commercial product availability, and up to $6 million in sales-related milestone payments.
The company expects these proceeds to bolster its cash position, fund Biofrontera to profitability, and support the growth of its photodynamic therapy (PDT) platform and expansion of Ameluz® into additional indications.

Nov 7, 2025, 1:05 PM

Biofrontera sells Xepi® license to Pelthos Therapeutics

BFRI

M&A

New Projects/Investments

Biofrontera Inc. has divested its US license for Xepi® (ozenoxacin) Cream, 1% to Pelthos Therapeutics Inc..
The transaction is valued at up to $10 million, comprising $3 million at closing, $1 million upon commercial product availability, and up to $6 million in sales-related milestone payments.
These proceeds are expected to strengthen Biofrontera's cash position and fund the company to profitability.
The divestiture allows Biofrontera to focus on its core photodynamic therapy (PDT) platform and expand Ameluz® indications.

Nov 7, 2025, 1:00 PM

Biofrontera Inc. Finalizes Acquisition of U.S. Ameluz and RhodoLED Rights and Closes Financing Tranche

BFRI

M&A

Convertible Preferred Issuance

New Projects/Investments

Biofrontera Inc. (BFRI) finalized the acquisition of all U.S. rights to Ameluz® and RhodoLED® from its former parent company, Biofrontera AG, on October 20, 2025.
The acquisition includes a monthly earnout to Biofrontera AG, effective June 1, 2025, at 12% of Ameluz® U.S. revenues for prior year sales of $65.0 million or less, and 15% for sales exceeding $65.0 million.
On October 24, 2025, the company closed the second tranche of a Series C Preferred Stock private placement, generating $2.5 million in gross proceeds to fund acquisition costs and general corporate purposes.
Biofrontera Inc. assumed specific liabilities related to the acquired assets, effective June 1, 2025, including direct costs for acquired contracts, regulatory approvals, and existing inventory.
To prevent asset reversion, Biofrontera Inc. must manufacture or order a minimum of 80,000 Ameluz tubes annually from January 1, 2026, until May 31, 2031, or patent expiration.

Oct 24, 2025, 9:29 PM

Biofrontera Outlines Strategic Shift and Growth Initiatives at Fall 2025 Investor Conference

BFRI

New Projects/Investments

Guidance Update

Revenue Acceleration/Inflection

Biofrontera Inc. (BFRI) specializes in photodynamic therapy for actinic keratosis (AKs), with its FDA-approved Ameluz product having patent protection until 2043.
The company reported $37.3 million in revenue for 2024 and $17.6 million for Q2 year-to-date 2025, showing continued growth.
Biofrontera is transitioning to a vertically integrated U.S. pharmaceutical company by acquiring all IP and NDA rights for Ameluz in Q2 2025, which is expected to increase gross margins from the high 40s/low 50s to 80-85%.
Significant label expansion is underway, with PDUFA dates expected for basal cell carcinoma in Fall 2026 and for trunk and extremities in mid-2027, alongside ongoing trials for acne.
The company anticipates reaching break-even in 2026 based on current growth and financial projections.