The following is a summary of the Biofrontera Inc. (BFRI) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Biofrontera Inc. reported a 34% increase in Q2 2024 revenues year-over-year, amounting to $7.8 million.

• Net loss decreased significantly from $9.8 million in Q2 2023 to $257,000 in Q2 2024.

• Adjusted EBITDA improved to negative $4.7 million in Q2 2024 from negative $7.9 million in the same quarter last year.

• Total revenues for H1 2024 were $15.8 million, an increase of 8% year-over-year.

• Net loss for H1 2024 was $10.7 million, improved from a net loss of $17.3 million for H1 2023.

Business Progress:

• Introduction and sales start of the FDA-approved RhodoLED XL lamp.

• Strengthened financial standing by extinguishing all outstanding debts and through capital raised from exercised warrants.

• Relocation of clinical research activities to Biofrontera Discovery, a wholly owned subsidiary, focusing on maximum commercial benefit in clinical trials.

Opportunities:

• New RhodoLED XL provides treatment for extended areas, expanding the potential market within dermatology practices. Expected FDA approval for using up to three tubes per treatment will further boost Ameluz's use and profitability.

• Anticipated cost reductions from renegotiated license and supply agreements leading to significant cost savings starting from H2 2024.

Risks:

• Operational adjustments and the cost impact of clinical trials until benefits of renegotiated agreements are realized pose short-term financial challenges.

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