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Biofrontera(BFRI) - 2025 Q1 - Earnings Call Transcript
BFRIBiofrontera(BFRI)2025-05-16 15:00
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Financial Data and Key Metrics Changes - Total revenues for Q1 2025 were 8.6million,a98.6 million, a 9% increase from the same period last year [5][12] - Net loss for Q1 2025 was 4.2 million or 0.47pershare,comparedtoanetlossof0.47 per share, compared to a net loss of 10.4 million or 2.88pershareinQ12024[14]−AdjustedEBITDAforQ12025was2.88 per share in Q1 2024 [14] - Adjusted EBITDA for Q1 2025 was 4.4 million, showing a decrease from 4.6millioninQ12024[15]BusinessLineDataandKeyMetricsChanges−Ameluzsalesincreasedby4.6 million in Q1 2024 [15] Business Line Data and Key Metrics Changes - Ameluz sales increased by 500,000 due to a higher unit price and the launch of the RotoLED XL lamp, which generated 200,000insales[12]−Totaloperatingexpensesdecreasedto200,000 in sales [12] - Total operating expenses decreased to 13.1 million in Q1 2025 from 13.4millioninQ12024[12]MarketDataandKeyMetricsChanges−ThecompanyachievedasignificantmilestonewiththegrantingofapatentforanewformulationofAmeluz,providingprotectionuntilDecember2043[6]−ThefinalpatientwasenrolledinaPhasethreeclinicaltrialforAmeluz,aimingtoextenditslabelforbroadertreatmentapplications[7][8]CompanyStrategyandDevelopmentDirection−Thecompanyaimstoachieverecordrevenuesin2025withoutincreasingcosts,supportedbypastinvestmentsandaneffectivesalesforce[5]−FuturegoalsincludeexpandingAmeluz′sapplicationstotreatsuperficialbasalcellcarcinomaandmoderatetosevereacne,addressingsignificantmedicalneeds[9][10]Management′sCommentsonOperatingEnvironmentandFutureOutlook−Managementexpressedconfidenceinreachingbreakevenquickly,citingimprovedgrossprofitandreducedoperatingcosts[11]−ThecompanyiscommittedtoexploringadditionalapplicationsforAmeluzbeyondactinickeratosis,indicatingaproactiveapproachtogrowth[9]OtherImportantInformation−Thecompanyhascashandcashequivalentsof13.4 million in Q1 2024 [12] Market Data and Key Metrics Changes - The company achieved a significant milestone with the granting of a patent for a new formulation of Ameluz, providing protection until December 2043 [6] - The final patient was enrolled in a Phase three clinical trial for Ameluz, aiming to extend its label for broader treatment applications [7][8] Company Strategy and Development Direction - The company aims to achieve record revenues in 2025 without increasing costs, supported by past investments and an effective sales force [5] - Future goals include expanding Ameluz's applications to treat superficial basal cell carcinoma and moderate to severe acne, addressing significant medical needs [9][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in reaching breakeven quickly, citing improved gross profit and reduced operating costs [11] - The company is committed to exploring additional applications for Ameluz beyond actinic keratosis, indicating a proactive approach to growth [9] Other Important Information - The company has cash and cash equivalents of 1.8 million as of March 31, 2025, down from 5.9millionattheendof2024[15]−Inventoryonhandwas5.9 million at the end of 2024 [15] - Inventory on hand was 6.5 million, slightly down from $6.6 million at the end of 2024 [15] Q&A Session Summary Question: How many LAMP units were sold in Q1 2025? - The company placed 18 XL lamps in the first quarter [18][19] Question: Is there any sales force attrition affecting expenses? - Management noted some turnover but is committed to reorganizing the team for efficiency [23] Question: What is the status of gross margins and transfer pricing? - The company expects to maintain a 25% transfer price for inventory moving forward, which will impact gross margins [26][27] Question: What is the status of reimbursement for the three-tube indication? - Management confirmed that there have been no reported issues with reimbursement for using more than one tube [28]