20th Nov 2015 08:14
LONDON (Alliance News) - Biofrontera AG Friday reiterated its revenue expectations for 2015, as it saw revenue up 31% in the first nine months of the year.
The biopharmaceutical company said its pretax loss for its first nine months to end-September was widened to EUR9.3 million from EUR8.0 million a year before, mostly as a result of a EUR2.1 million submission fee to the US Food and Drug Administration in relation to its skin cancer treatment.
Revenue rose 32% to EUR2.6 million from EUR1.9 million a year before.
Biofrontera said that an approval application for its skin cancer treatment Ameluz and BF-RhodoLED was accepted for detailed examination by the FDA, and after preliminary examination the FDA has identified no specific review issues, with a prospective approval in May 2016.
"We are well in line with our targets for revenue development and can confirm our annual growth target of 30%, as well as our revenue expectation for the full year," said Chief Executive Officer Hermann Lübbert in a statement.
"We have also met important milestones in the history of our company with the acceptance of the filing by FDA in the US as well as with completion of the clinical part of our Phase III study for basal cell carcinoma in Europe. We believe Biofrontera is well underway to become a much larger and much more prominent company in the short to medium term and we are very confident that we will also be able to successfully achieve our future goals," Lübbert.
Shares in Biofrontera were untraded early Friday morning. It last traded at 155.00 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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