Biofrontera Inc. Q1 FY2025 earnings call

• Revenue growth: Total revenues for Q1 2025 were $8.6 million, a 9% increase from the prior year. - Cost control: Cost of revenues related party decreased by 22.1%, SG&A expenses decreased by 6.5%. - Milestones: Patent granted on Ameluz formulation until 2043; final patient enrolled in Phase III trial for Ameluz in treating actinic keratoses on extremities, neck, and trunk; last patient completed one-year follow-up visit in Phase III study for Ameluz and RhodoLED PDT in treating superficial basal cell carcinoma. - Expansion plans: Aim to submit data for Ameluz in superficial basal cell carcinoma in the second half of 2025; ongoing Phase II study for acne nearing completion.

Total revenues for the first quarter of 2025 were $8.6 million, a 9% increase from the same period of the prior year. Ameluz sales contributed to the increase due to an increased unit price and the launch of the RhodoLED XL lamp, which had sales of $0.2 million. Cost of revenues related party was $3.1 million in Q1 2025, a decrease of $0.9 million (22.1%) from the prior year quarter. Selling, general and administrative expenses decreased by $0.6 million (6.5%) compared to Q1 2024. Research and development expenses increased by $1.2 million in Q1 2025 due to assuming all clinical trial activities for Ameluz in the US.

• Management believes they can achieve record revenues in 2025 without increasing costs. - Expect to submit new data for Ameluz in superficial basal cell carcinoma to the FDA in the second half of 2025. - Ongoing Phase II study for acne is close to completing patient recruitment, with data expected towards the end of 2025.

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 placed in the first quarter; original lamp sales details were to be double-checked.

Q: Any sales force attrition?

A: Hermann Luebbert and Fred Leffler mentioned restructuring the commercial team, with some turnover but commitment to replacing and reorganizing to be efficient.

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 the 25% transfer price, but there may be fluctuation based on lamp sales as margin on lamps is lower.

Q: Update on reimbursement for the three tube indication?

A: Hermann Luebbert stated they're not aware of any cases where doctors were refused payment for using more than one tube, indicating reimbursement seems solved.