Biofrontera Q2 earnings beat by $0.09, revenue exceeds estimates

Biofrontera AG on Tuesday reported second-quarter earnings per share of $0.09, beating consensus estimates by $0.09, while revenue totaled $12.3 million, exceeding projections by 15%.

The German biotech company, which develops photodynamic therapies for dermatological conditions, attributed the outperformance to stronger-than-anticipated demand for its lead product, Ameluz, a topical gel used in the treatment of actinic keratosis.

Net income for the quarter rose to $1.8 million from a loss of $2.1 million in the same period a year earlier, reflecting improved commercial execution and cost efficiencies. Revenue growth was driven by higher unit sales and expanded market penetration in key European and U.S. regions.

Analysts had expected earnings of $0.00 per share on revenue of $10.7 million, according to a Refinitiv consensus survey. The company maintained its full-year guidance, reaffirming revenue projections of between $45 million and $50 million and narrowing its net loss guidance to between $5 million and $7 million.

Shares of Biofrontera were up 4.2% in pre-market trading following the results, extending gains from Monday’s close.