Biofrontera publishes financial report 2010
(Thomson Reuters ONE) -
Biofrontera AG /
Biofrontera publishes financial report 2010
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The issuer is solely responsible for the content of this announcement.
Highlights 2010:
* Filing of marketing authorization application for BF-200 ALA and successful
validation of the documents
* Manufacturing and distribution license obtained
* BF-200 ALA selected by Windhover as worldwide TOP-10 drug development
project available for partnering
* Distribution agreement for Belixos® in Arabic countries
* Consolidation of Biofrontera shares under a single ISIN
Leverkusen, Germany - Biofrontera AG (DSE: B8F) today reports its financial
results for the fiscal year 2010. The report, published today on the company's
web site, illustrates the considerable progress in the product pipeline and
provides an outlook for 2011.
"Important goals for 2010 included the filing of the marketing authorization
application for BF-200 ALA and the strengthening of the market position of
Belixos(®). This was achieved and, in addition, we could financially secure
Biofrontera through various capital measures", commented Prof. Dr. Hermann
Lübbert, CEO of Biofrontera AG.
Review of the fiscal year 2009
The annual loss was, with EUR 7.7 mln, in 2010 higher than in 2009 with EUR 3.4
mln. The increased loss was caused by positive one-time effects of the
restructuring of the Biofrontera convertible bond 05/12 in 2009 and the accrual
of EUR 1.5 mln for a purchase price in 2010. The payment was not yet executed
due to disputable issues in the ordinary delivery and the settlement date.
Revenues increased to TEUR 406 from TEUR 336 in 2009, which was due to increased
sales of Belixos(®), the diagnostic ViroSafe and components for pharmacy
compounding.
With EUR 3.9 mln for research and development of Biofrontera group in 2010, the
accounting was slightly higher than in 2009 (EUR 3.4 mln). Research and
development expenses decreased continually since 2008 due to the completion of
clinical trials, particularly the pivotal phase III trials of BF-200 ALA. The
higher bookings in 2010 were due to the accrual of EUR 1.5 mln for the potential
purchase price mentioned above, which was booked as research and development
expense.
The capital flow from investment activities was with EUR 4.9 mln slightly higher
than in 2009 (EUR 4.5 mln). These proceeds were mostly used to finance the
completion of the development and the initiation of the drug approval process
for BF-200 ALA.
At the end of the reporting year the free liquidity of Biofrontera AG was TEUR
692, compared to TEUR 1.408 at the end of 2009. From today's point of view, the
proceeds of the capital increase in February 2011 have to be added to this
liquidity.
Retrospection and outlook
The filing of the European drug approval for BF-200 ALA was Biofrontera's major
operational focus in 2010. The required financial resources could be raised at
the capital market. New share classes that were generated in capital increases
in 2009, were combined with the old shares under a single ISIN in the regulated
stock market. For the global sales of Belixos(®), the cooperation in Arabic
countries with Itrom Trading Drug Store, Dubai, was a first step.
The most important goal for 2011 is the European drug approval of BF-200 ALA and
its market introduction in the first countries. Already in January 2011 the EMA
has provided a positive assessment report. With the marketing approval of the
first prescription drug, Biofrontera will mature to a less development and more
marketing and sales driven organization.
Biofrontera AG
Biofrontera aims at attending and treating the skin, recognizing the aesthetic
needs of a person's visual reflection.
Biofrontera is listed in the regulated market of the Düsseldorf stock exchange
under the symbol B8F and the ISIN number DE0006046113.
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(at)biofrontera.com
Biofrontera AG
Hemmelrather Weg 201
D- 51377 Leverkusen, Germany
--- End of Message ---
Biofrontera AG
Hemmelrather Weg 201 Leverkusen Germany
WKN: 604611;ISIN: DE0006046113;
Listed: Freiverkehr in Börse Stuttgart,
Freiverkehr in Börse Berlin,
Open Market (Freiverkehr) in Frankfurter Wertpapierbörse,
Freiverkehr in Bayerische Börse München,
Regulierter Markt in Börse Düsseldorf;
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originality of the information contained therein.
Source: Biofrontera AG via Thomson Reuters ONE
[HUG#1502102]
Unternehmensinformation / Kurzprofil:
Datum: 31.03.2011 - 11:54 Uhr
Sprache: Deutsch
News-ID 53015
Anzahl Zeichen: 6384
contact information:
Town:
Leverkusen
Kategorie:
Business News
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