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BFRI

Biofrontera Inc.

BFRI

Biofrontera Inc. • NASDAQ
$0.82 ▲ 3.61% (+0.03)
Market Cap $9.52 M
52w High $1.87
52w Low $0.54
Dividend Yield 0%
P/E -0.54
Volume 34.45K
Outstanding Shares 11.65M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $6.988M ▼ $11.344M ▼ $-6.649M ▼ -95.149% ▼ $-0.62 ▼ $-6.333M ▼
Q2-2025 $9.03M ▲ $11.729M ▲ $-5.324M ▼ -58.959% ▼ $-0.57 ▲ $-4.966M ▼
Q1-2025 $8.588M ▼ $10.06M ▲ $-4.203M ▼ -48.94% ▼ $-0.76 ▼ $-3.865M ▼
Q4-2024 $12.559M ▲ $8.999M ▼ $-1.396M ▲ -11.116% ▲ $2.97 ▲ $-1.123M ▲
Q3-2024 $9.012M $9.095M $-5.669M -62.905% $-0.98 $-5.345M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $3.417M ▼ $15.415M ▼ $17.996M ▼ $-2.581M ▲
Q2-2025 $7.248M ▲ $20.142M ▲ $24.81M ▲ $-4.668M ▼
Q1-2025 $1.792M ▼ $16.588M ▼ $16.119M ▼ $469K ▼
Q4-2024 $5.912M ▲ $22.101M ▲ $17.668M ▲ $4.433M ▼
Q3-2024 $2.881M $18.516M $12.986M $5.53M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-6.649M ▼ $-3.823M ▼ $1K ▲ $0 ▼ $-3.822M ▼ $-3.822M ▼
Q2-2025 $-5.324M ▼ $-3.045M ▲ $-1K ▲ $8.5M ▲ $5.454M ▲ $-3.046M ▲
Q1-2025 $-4.203M ▼ $-4.117M ▼ $-3K ▼ $0 ▼ $-4.12M ▼ $-4.12M ▼
Q4-2024 $-1.396M ▲ $-1.017M ▲ $-1K ▼ $4.05M ▲ $3.032M ▲ $-1.018M ▲
Q3-2024 $-5.669M $-1.208M $0 $-298K $-1.506M $-1.208M

Revenue by Products

Product Q4-2023Q1-2024Q2-2024Q3-2024
Government and Payor Rebates
Government and Payor Rebates
 $0 ▲$0 ▲$0 ▲$0 ▲
Prompt Pay Discounts
Prompt Pay Discounts
 $0 ▲$0 ▲$0 ▲$0 ▲
Returns
Returns
 $0 ▲$0 ▲$0 ▲$0 ▲
Copay Assistance Program
Copay Assistance Program
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Biofrontera is still very much in the build‑out stage. Sales are small but have been inching higher over the past few years, and the company has been able to keep a positive margin on what it sells. The main issue is scale: operating costs, such as R&D, sales, and overhead, are far larger than the gross profit, so the business continues to post operating and net losses. Those losses were especially heavy around the IPO period and have since narrowed at times, but the company has not yet shown a consistent move into profitability. Earnings per share look extremely volatile and deeply negative, reflecting both ongoing losses and past share structure changes rather than a stable earnings base.

Balance Sheet

Balance Sheet The balance sheet is very light, which is typical for a small, specialty biotech focused on one platform. The company holds only a modest amount of assets and cash, and carries very little debt, which limits interest burden but also underlines how thin its financial cushion is. Shareholders’ equity has drifted down toward break‑even, suggesting accumulated losses have largely consumed past capital. This combination points to a business that is lean and not overleveraged, but also with limited room for prolonged setbacks without new external funding.

Cash Flow

Cash Flow Cash flow from the core business has been consistently negative, showing that operations are still consuming cash rather than generating it. Free cash flow mirrors this pattern, as there is almost no spending on heavy equipment or facilities; the main outflows are tied to running and growing the commercial and R&D activities. The trend suggests gradual improvement at times but not yet a self‑funding model. This means the company’s ability to continue executing its strategy likely depends on access to capital markets, partnerships, or milestone payments until it reaches sufficient scale.

Competitive Edge

Competitive Edge Biofrontera occupies a focused niche in dermatology, centered on photodynamic therapy for pre‑cancerous and cancerous skin conditions. Its competitive position rests on several pillars: proprietary nanoemulsion technology that aims to improve drug delivery through the skin, long‑dated patents (including an updated formulation that extends protection well into the 2040s), and an integrated drug‑and‑device system combining its gel with its own red‑light lamps. This combination can make it harder for direct copycats to emerge and encourages doctors to stick with a full system. On the flip side, the company is still small, largely concentrated on one main product platform, and competes in a crowded dermatology market where larger players, reimbursement decisions, and clinical habits matter a lot. Execution in sales, education of dermatologists, and maintaining payer support will heavily influence how durable this competitive edge becomes.

Innovation and R&D

Innovation and R&D Innovation is the clear centerpiece of Biofrontera’s story. The company’s nanoemulsion platform underpins Ameluz and could support multiple skin‑related uses. Management is pushing this into a broader set of indications: from its existing use in actinic keratosis to superficial basal cell carcinoma, more extensive body areas, and potentially into acne, which is a very large target market. Several late‑stage trials have reported encouraging results, and the company is preparing or planning regulatory submissions to expand approved uses. If these efforts succeed, they could meaningfully enlarge the addressable market for the same core technology. However, these programs carry the usual clinical and regulatory risks, and they require continued investment at a time when cash resources are limited, so timing and trial outcomes are critical swing factors.

Summary

Biofrontera is a small, specialized dermatology company built around a single photodynamic therapy platform that appears scientifically differentiated and well protected by patents and a drug‑device combination strategy. Commercial traction is growing from a low base, but the business is still loss‑making and cash‑consuming, with a thin balance sheet and limited financial buffer. The company’s future hinges on two main levers: successfully scaling sales of its existing therapy in actinic keratosis and related uses, and converting its late‑stage pipeline (especially in basal cell carcinoma and acne) into approved, reimbursed indications. If it can execute on both while maintaining access to capital, the economics of the model could improve significantly; if not, its small size, concentration risk, and ongoing cash burn remain important constraints. Overall, Biofrontera is best viewed as an early‑stage, high‑uncertainty platform story with clear scientific and strategic strengths but meaningful financial and execution risks.

NEWS

November 13, 2025 · 8:15 AM UTC

Biofrontera Inc. Reports Third Quarter 2025 Financial Results and Provides a Business Update

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November 7, 2025 · 8:00 AM UTC

Biofrontera Inc. announces sale of license to Xepi® Antibiotic Cream to Pelthos Therapeutics Inc. for up to $10M

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November 6, 2025 · 4:01 PM UTC

Biofrontera Inc. to Report Third Quarter 2025 Financial Results on November 12, 2025 and Host a Conference Call on November 13, 2025

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October 23, 2025 · 8:45 AM UTC

Biofrontera Inc. Closes Purchase of All Ameluz® and RhodoLED® US Assets from Biofrontera AG

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September 26, 2025 · 9:15 AM UTC

Biofrontera Inc. to Participate in the Lytham Partners Fall 2025 Investor Conference on September 30, 2025

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