Biofrontera Inc. Q1 FY2025 earnings call

• Revenue growth: Total revenues for Q1 2025 were $8.6 million, a 9% increase from prior year. - Cost control: Cost of revenue and operating costs lower than prior year. - Patent grant: New Ameluz formulation granted patent until December 2043. - Clinical trial progress: Enrollment of final patient in Phase III trial for Ameluz on extremities, neck, trunk; Phase I pharmacokinetic study for label extension started. Milestone in Phase III study for Ameluz and RhodoLED PDT with last patient completing one-year follow-up. - Future plans: Aim to submit data for new indications in H2 2025; ongoing Phase II study for acne close to completing patient recruitment. - Financials: Net loss for Q1 2025 was $4.2 million or $0.47 per share, improved from prior year; adjusted EBITDA increased from $4.6 million in Q1 2024 to $4.4 million in Q1 2025.

Total revenues for the first quarter of 2025 were $8.6 million, a 9% increase from the same period of the prior year. Cost of revenue and operating costs were lower than the prior year. Ameluz sales contributed, with 18 XL lamps sold in Q1. Cost of revenues, related party decreased by $0.9 million or 22.1% due to reduced cost structure under Ameluz license and supply agreements. Selling, general and administrative expenses decreased by $0.6 million or 6.5%. R&D expenses increased by $1.2 million due to assumption of clinical trial activities for Ameluz in the US.

• Goal to achieve record revenues in 2025 without increasing costs. - Plan to submit new data to FDA for Ameluz label extensions in H2 2025. - Ongoing Phase II study for acne with data expected at end of 2025.

• Risks associated with forward-looking statements; actual results may differ materially. - Uncertainties in clinical trial outcomes and market adoption of new indications. - Dependence on non-GAAP measures which should not substitute GAAP results.

Q: Over 1Q '25, how many lamp units did you sell, both the original and the XL?

A: Fred Leffler responded that 18 XL lamps were sold in Q1, and he would double check on original lamps.

Q: Any sales force attrition?

A: Fred Leffler and Hermann Luebbert mentioned restructuring the commercial team, bringing in junior reps, some turnover, but committed to reorganizing for efficiency.

Q: How will the change in transfer pricing play out over the rest of the year?

A: Fred Leffler said all current Ameluz inventory is at 25% transfer price, but margin may fluctuate based on lamp sales.

Q: Status of reimbursement for the three tube indication?

A: Hermann Luebbert stated no known cases of doctors being refused payment for using more than one tube, indicating reimbursement is solved.