November 13, 2025.
Woburn, MA — November 13, 2025 — Leads & Copy — Biofrontera Inc. (NASDAQ:BFRI) today announced its financial results for the three and nine months ending September 30, 2025, along with a business update. A conference call to discuss the results will be held today at 10:00 am ET.
The company reported stable revenues of $24.6 million for the first nine months of 2025, compared to $24.8 million for the same period in 2024. According to the press release, the 2025 result was achieved without the buy-in effects from a price increase.
Third quarter revenues for 2025 were $7.0 million, which is less than the $9.0 million reported in the third quarter of 2024. The company attributes this lag to advanced purchases made ahead of the October 2024 price increase. Biofrontera anticipates fourth quarter 2025 revenues will compensate for this effect, resulting in substantial annual year-over-year growth.
Operating expenses decreased 5% year-over-year in the third quarter of 2025 compared to the same quarter in 2024. The company’s cash balance was $3.4 million as of September 30, 2025.
Recent operational highlights include the completion of the purchase of all Ameluz and RhodoLED US Assets from Biofrontera AG. The new earnout structure reduces the payment rate to 12%–15% of U.S. net sales from 25%–35%.
Biofrontera received the final $2.5 million of an $11 million financing led by existing investors in October. In November, the company announced the divestiture of its Xepi antibiotic cream to Pelthos Pharmaceuticals for $3 million at closing, $1 million upon commercial availability, and up to $6 million in milestone payments tied to revenue thresholds of $10 million and $15 million.
The company also announced that the final patient completed the active treatment phase of its Phase 3 clinical trial evaluating Ameluz for mild to moderate actinic keratoses (AKs) on the extremities, neck, and trunk, and that the final patient in their Phase 2b clinical trial evaluating Ameluz for the treatment of moderate to severe acne vulgaris (AV) completed participation.
Hermann Luebbert, Chief Executive Officer and Chairman of Biofrontera Inc., said the company remains on track to achieve its full-year sales objectives, which are supported by growing demand for its Ameluz-PDT treatment.
Luebbert said the revenue decline in the third quarter was expected, and the impact related to the 2024 price increase has begun to normalize in recent weeks. He anticipates substantial fourth quarter and year-over-year annual revenue growth. He added that the company’s revamped commercial approach, which is centered on a more focused and data-driven sales strategy, as well as a refined customer segmentation, is proving effective.
The CEO said the company continues to educate both providers and patients on the clinical benefits of Ameluz and PDT with Red Light, leading to a significant expansion of the installed base of RhodoLED lamps, which supports recurring, high-margin sales of Ameluz gel. He is also encouraged about the potential of their almost completed clinical studies to gain FDA approval for the use of Ameluz to treat AK on the entire body, and the potential extension to be the first FDA approved PDT treatment for superficial basal cell carcinoma and acne vulgaris.
The recently completed agreement with Biofrontera AG, Luebbert said, represents a transformative milestone for the company. By acquiring all U.S. rights, approvals, and patents for Ameluz and the RhodoLED lamps, the company now has full control over its most important assets, from production to commercialization. He said this transaction is expected to significantly enhance gross margins and strengthen long-term profitability.
Luebbert noted that the new royalty structure of 12% when U.S. Ameluz revenue is below $65 million and 15% when it exceeds that threshold, replaces the prior transfer-pricing model of 25% to 35%, creating meaningful financial leverage as the company continues to grow the Ameluz brand in the U.S. market.
As part of this transaction, Biofrontera also secured an $11 million investment from its well-established healthcare-focused institutional investors, $2.5 million of which was received after the end of the reporting period. Combined with the recent addition of the proceeds from divesting the Xepi antibiotic cream, also added to the cash position after the period, the company’s current liquidity positions it with a clear runway to sustained growth and profitability.
Investor Relations Contact:
Ben Shamsian
Lytham Partners
646-829-9701
shamsian@lythampartners.com
Source: Biofrontera Inc.
