By Chris Wack
Biofrontera Inc. shares have been up 11% to $4.50 after the corporate reported fourth-quarter income that met analysts’ expectations, and stated 2022 income could be 30% larger than 2021.
The corporate stated quarterly income was $9.2 million, in contrast with $8.6 million in the identical quarter final yr. Analysts polled by FactSet have been searching for income of $9.2 million.
The loss for the quarter got here in at $14.5 million, or $1.29 a share, in contrast with a lack of $186,000, or $2.12 a share. Analysts had been searching for a lack of $2.2 million, or 16 cents a share.
Biofrontera stated it expects 2022 income to extend by at the least 30% in contrast with 2021, with first-quarter complete income up by greater than 100% versus the primary quarter of the prior yr. The corporate’s income for 2021 was $24 million.
The corporate stated its industrial focus all through 2022 might be on attaining deeper gross sales penetration amongst present buyer accounts, with additions to the Biofrontera gross sales pressure anticipated to start in 2023.
Write to Chris Wack at email@example.com