17th Apr 2015 06:58
LONDON (Alliance News) - Biofrontera AG maintained its guidance for the full year, as it saw revenue up 59% in the first quarter of 2015 to over EUR1.0 million.
The biopharmaceutical company did not provide comparative figures.
At the time of its 2014 results earlier this month Biofrontera said it expects to post a net loss of between EUR9 million to EUR10 million in 2015, on revenue of between EUR4 million to EUR5 million, although it cautioned that this forecast is subject to uncertainties related to the speed of market penetration.
Biofrontera said Friday that it saw revenues up 44% in Germany, exceeding its expectations, although it said it does not extrapolate this growth for the full year. Outside of Germany revenue was UR783m999, according to its preliminary numbers.
"We are very pleased with business development so far in the current year. We had repeatedly emphasised that we would expect much larger revenues in 2015 and the first quarter has fully confirmed our expectations," said Chairman Hermann Lübbert in a statement.
It will announce its first quarter results May 29.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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