Biofrontera AG / Biofrontera publishes 1st quarter 2013 interim report . Processed and transmitted by Thomson Reuters ONE. The issuer is solely responsible for the content of this announcement.
Leverkusen, Germany, 17 May 2013 - Biofrontera AG (DSE: B8F) has today published its interim report for the 1st quarter 2013 on its corporate webpage.
Since Biofrontera is only obliged to report detailed financial results on a semi-annual basis, the report shows and comments some relevant key figures and summarizes the development of the business in the 1st quarter of 2013.
The first quarter of 2013 was dominated by the efforts to grow the sales of Ameluz®. Ameluz® is Biofrontera's prescription drug for the photodynamic treatment (PDT) of actinic keratosis, a superficial skin cancer. It is marketed in Germany since February 2012 with Biofrontera's own sales force, and sales in other European countries started in Q3 2012. Sales had grown strongly the 4th quarter of 2012, and remained rather constant during the 1st quarter of 2013, which is a good result considering the seasonal fluctuations in the use of PDT. With respect to unit sales, the sales of Ameluz® represent about 60% of the current market with approved PDT-drugs in Germany. However, about 30 times more treatments of actinic keratosis are performed with legally questionable pharmacy compounding products or topical drugs with lower efficacy and inferior cosmetic results. Even though a doubling of the market with approved PDT drugs was observed in the 1st quarter of 2013 compared to previous years, which reflects a take-over of market share from such treatments, Biofrontera is only at the very beginning of the development of the Ameluz® market. The recent CE-marking and sales start of Biofrontera's PDT-lamp BF-RhodoLED® will support this process. Biofrontera's revenues in the 1st quarter of 2013 were EUR 634,060. They are solely related to sales in Germany and, to a smaller part, in Austria, since no manufacturing was done for other countries in this quarter.
The liquidity at the beginning of the year amounted to TEUR 3,366 and to TEUR 8,867 on March 31, 2013. The strong increase in liquidity resulted from a capital increase in which the strategic investor Maruho Deutschland GmbH bought 9.07% of Biofrontera's share capital. Divers potential collaborations with its parent company Maruho Co.,Ltd., Osaka, will be explored shortly. The capital increase provided net proceeds of TEUR 7,475 to Biofrontera.
The cash outflow in the 1st quarter amounted to TEUR 2,538. It covers interest payments of TEUR 436 for the outstanding Biofrontera option bonds and external research and development costs of TEUR 581. The latter are mostly related to the clinical trials which have been initiated to achieve the approval of Ameluz® in the USA and extend its approval to the treatment of basal cell carcinoma.
The investment of Maruho and the initiation of the clinical trials for the approval of Ameluz® in the USA represent important milestones in the international strategic positioning of Biofrontera.
Biofrontera AG
Biofrontera aims at attending and treating the skin, recognizing the aesthetic needs of a person's visual reflection.Biofrontera AG is listed on the regulated market of the Frankfurt stock exchange under the symbol B8F and the ISIN number DE0006046113.
www.biofrontera.com (http://www.biofrontera.com)
This press release contains forward-looking statements based on the currently held beliefs and assumptions of the management of Biofrontera AG, which are expressed in good faith and, in their opinion, reasonable. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the assumptions expressed or implied in this press release to be faulty. Given these risks, uncertainties and other factors, recipients of this document are cautioned not to place undue reliance on the forward-looking statements. Biofrontera AG disclaims any obligation to update these forward-looking statements to reflect future events or developments.
For further information please contact:
Anke zur Mühlen
Corporate Communication
+ 49 (0) 214 87632 22
+ 49 (0) 214 87632 90
a.zurmuehlen@biofrontera.com (mailto:a.zurmuehlen@biofrontera.com)
Biofrontera AG
Hemmelrather Weg 201
D- 51377 Leverkusen, Germany
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Source: Biofrontera AG via Thomson Reuters ONE
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Biofrontera AG
Hemmelrather Weg 201 Leverkusen Germany
WKN: 604611;ISIN: DE0006046113;
Listed: Freiverkehr in Börse Stuttgart,
Freiverkehr in Börse Berlin,
Freiverkehr in Bayerische Börse München,
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