Biofrontera's 2024 Q4 Earnings Call: Unpacking Contradictions in Ameluz Pricing, Acne Trials, and Sales Growth

These are the key contradictions discussed in Biofrontera's latest 2024Q4 earnings call, specifically including: Ameluz price increase effectiveness, acne trial data timing, Ameluz unit growth expectations, sales force stability, and the timeline for acne trial data:



Record Sales and Revenue Growth:
- Biofrontera Inc. reported record sales of $37.3 million in 2024, which represents an annual sales growth of 18.5% for Q4 and almost 10% for the entire year.
- The growth was driven by strong execution of the business plan, successful product launches, and strategic investments.

Product Innovations and Market Expansion:
- Biofrontera placed 52 RhodoLED XL lamps in Q4 and 100 between June 2024 and year-end, expanding the use of Ameluz PDT for treating actinic keratosis.
- Obtained FDA approval to use up to three tubes of Ameluz per treatment, enhancing treatment capabilities and expanding market potential.

Cost Optimization and Financial Efficiency:
- The company successfully negotiated a restructuring of agreements with its former parent company, reducing the transfer price of Ameluz from 50% to 25% for purchases in 2024 and 2025.
- Selling, general, and administrative expenses decreased by $5.3 million or 13.5% compared to 2023, driven by reductions in external legal expenses and strategic investment in promotional spend.

Cash Position and Financing Activities:
- Biofrontera reported $5.9 million in cash and cash equivalents as of December 31, 2024, a significant increase from $1.3 million in 2023.
- The improvement was due to strong growth and additional capital raised in Q4, primarily through the issuance of preferred stock and convertible notes.