Biofrontera Inc. to Report Second Quarter FY 2025 Financial Results on August 13, 2025
Conference Call and Webcast Information
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About Biofrontera Inc.
Biofrontera Inc. is a U.S.-based biopharmaceutical company specializing in the development and treatment of dermatological conditions with a focus on PDT. The Company commercializes the drug-device combination Ameluz ® with the RhodoLED ® lamp series for PDT of AK, pre-cancerous skin lesions which may progress to invasive skin cancers. The Company performs clinical trials to extend the use of the products to treat non-melanoma skin cancers and moderate to severe acne. For more information, visit www.biofrontera-us.com and follow Biofrontera on LinkedIn and X.
Contacts:
Investor Relations
Andrew Barwicki
1-516-662-9461
[email protected]
Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.
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(in thousands, except par value and share amounts) June 30, 2025 (unaudited) ASSETS Cash and cash equivalents $ 261 $ 277 Restricted cash — 126 Prepaid expenses and other assets, net 266 267 Pension asset 409 2,802 Accounts receivable, net — 146 Right-of-use asset — 109 Total assets $ 936 $ 3,727 LIABILITIES Steel Promissory Note payable $ 1,283 $ — Accounts payable and accrued expenses 113 454 Accrued professional fees 230 954 Lease liability — 118 Total liabilities 1,626 1,526 Commitments and Contingencies STOCKHOLDERS' (DEFICIT) EQUITY Preferred stock, $0.01 par value; 40,000,000 shares authorized; no shares issued and outstanding at June 30, 2025 and December 31, 2024 — — Preferred stock, $0.01 par value; 2 shares authorized; no shares issued and outstanding at June 30, 2025 and December 31, 2024 — — Special stock, $0.01 par value; 1 share authorized, issued and outstanding at June 30, 2025 and December 31, 2024 — — Common stock, $0.01 par value; 79,999,997 shares authorized; 73,447,413 and 72,487,481 shares issued at June 30, 2025, and December 31, 2024, respectively; 66,247,266 and 65,314,726 shares outstanding at June 30, 2025, and December 31, 2024, respectively 735 725 Additional paid-in capital 150,713 150,183 Treasury stock (7,200,147 and 7,172,755 shares at June 30, 2025, and December 31, 2024, respectively) (57,678 ) (57,676 ) Accumulated other comprehensive loss — (729 ) Accumulated deficit (94,460 ) (90,302 ) Total stockholders' (deficit) equity (690 ) 2,201 Total liabilities and stockholders' (deficit) equity $ 936 $ 3,727 Expand TRINITY PLACE HOLDINGS INC. (in thousands, except per share amounts) (unaudited) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Revenues Rental revenues $ — $ — $ — $ 798 Other income — 373 239 493 Sales of residential condominium units — — — 1,439 Total revenues — 373 239 2,730 Operating expenses Property operating expenses 6 20 30 437 Real estate taxes — — — 363 General and administrative 421 1,886 1,404 2,992 Pension related costs — 135 — 265 Cost of sales - residential condominium units — — — 1,437 Depreciation and amortization — 4 1 766 Total operating expenses 427 2,045 1,435 6,260 Operating loss (427 ) (1,672 ) (1,196 ) (3,530 ) Non-cash pension settlement expense and estimated excise tax on plan asset reversion (55 ) — (3,123 ) — Gain on contribution to joint venture — — 20,976 Equity in net loss from unconsolidated joint ventures — — — (5,962 ) Interest expense, net (25 ) — (33 ) (3,883 ) Interest expense - amortization of deferred finance costs — — — (334 ) (Loss) income before taxes $ (507 ) $ (1,672 ) $ (4,352 ) $ 7,267 Income tax (expense) benefit — (54 ) 194 (140 ) Net (loss) income attributable to common stockholders $ (507 ) $ (1,726 ) $ (4,158 ) $ 7,127 Other comprehensive (loss) income: Reclassification of loss on pension settlement — — 729 — Unrealized gain on pension liability — 120 — 240 Comprehensive (loss) income attributable to common stockholders $ (507 ) $ (1,606 ) $ (3,429 ) $ 7,367 (Loss) income per common unit - basic and diluted $ (0.01 ) $ (0.03 ) $ (0.06 ) $ 0.12 Weighted average common shares outstanding - basic and diluted 66,270 65,588 66,269 59,222 Expand TRINITY PLACE HOLDINGS INC. (in thousands) (unaudited) Common Stock Additional Paid-In Capital Treasury Stock Accumulated Deficit Accumulated Other Comprehensive Loss Total Stockholders' Equity (Deficit) Balance at December 31, 2024 72,487 $ 725 $ 150,183 (7,173 ) $ (57,676 ) $ (90,302 ) $ (729 ) $ 2,201 Net loss attributable to common stockholders — — — — — (3,651 ) — (3,651 ) Settlement of stock awards 960 10 537 (27 ) (2 ) — — 545 Other comprehensive loss — — — — — — 729 729 Stock-based compensation — — (7 ) — — — — (7 ) Balance at March 31, 2025 73,447 735 150,713 (7,200 ) (57,678 ) (93,953 ) — (183 ) Net loss attributable to common stockholders — — — — — (507 ) — (507 ) Balance at June 30, 2025 73,447 $ 735 $ 150,713 (7,200 ) $ (57,678 ) $ (94,460 ) $ — $ (690 ) Expand Common Stock Additional Paid-In Capital Treasury Stock Accumulated Deficit Accumulated Other Comprehensive Loss Total Stockholders' (Deficit) Equity Shares Amount Shares Amount Balance at December 31, 2023 44,965 $ 450 $ 145,301 (6,766 ) $ (57,637 ) $ (95,905 ) $ (2,257 ) $ (10,048 ) Net income attributable to common stockholders — — — — — 8,853 — 8,853 Sale of common stock 25,112 251 4,235 — — — — 4,486 Settlement of stock awards 659 7 — (177 ) (28 ) — — (21 ) Other comprehensive income — — — — — — 120 120 Stock-based compensation — — 60 — — — — 60 Balance at March 31, 2024 (as revised) 70,736 708 149,596 (6,943 ) (57,665 ) (87,052 ) (2,137 ) 3,450 Net loss attributable to common stockholders — — — — — (1,726 ) — (1,726 ) Sale of common stock — — (94 ) — — — — (94 ) Settlement of stock awards 296 3 — — — — — 3 Other comprehensive loss — — — — — — 120 120 Stock-based compensation — — 73 — — — — 73 Balance at June 30, 2024 71,032 $ 711 $ 149,575 (6,943 ) $ (57,665 ) $ (88,778 ) $ (2,017 ) $ 1,826 Expand TRINITY PLACE HOLDINGS INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) (unaudited) Six Months Ended June 30, 2025 2024 Cash flows from operating activities: Net (loss) income attributable to common stockholders $ (4,158 ) $ 7,127 Adjustments to reconcile net (loss) income attributable to common stockholders to net cash used in operating activities: Depreciation and amortization and amortization of deferred finance costs 1 1,100 Other non-cash adjustment - paid-in-kind interest — 1,466 Settlement of stock awards and stock-based compensation expense 530 133 Gain on contribution to joint venture — (20,976 ) Deferred rents receivable — 12 Non-cash pension settlement expense 2,605 — Other non-cash adjustments - pension expense — 240 Equity in net loss from unconsolidated joint ventures — 5,962 Net change in operating assets and liabilities: Residential condominium units for sale — 2,201 Receivables 146 (178 ) Prepaid expenses and other assets, net 626 176 Accounts payable and accrued expenses (1,150 ) (3,108 ) Net cash used in operating activities (1,400 ) (5,845 ) Cash flows from investing activities: Transfer of restricted cash — (6,904 ) Net cash used in investing activities — (6,904 ) Cash flows from financing activities: Proceeds from loans and corporate credit facility — 2,526 Proceeds from Steel Promissory Note 1,250 — Settlement of stock awards 8 (18 ) Sale of common stock, net — 4,393 Net cash provided by financing activities 1,258 6,901 Net decrease in cash and cash equivalents and restricted cash (142 ) (5,848 ) Cash and cash equivalents and restricted cash, beginning of period 403 8,345 Cash and cash equivalents and restricted cash, end of period $ 261 $ 2,497 Cash and cash equivalents, beginning of period 277 264 Restricted cash, beginning of period 126 8,081 Cash and cash equivalents and restricted cash, beginning of period $ 403 $ 8,345 Cash and cash equivalents, end of period 261 854 Restricted cash, end of period — 1,643 Cash and cash equivalents and restricted cash, end of period $ 261 $ 2,497 Supplemental disclosure of cash flow information: Cash paid during the period for interest $ — $ 915 Cash paid during the period for taxes $ 15 $ 117 Supplemental disclosure of non-cash investing and financing activities: Transfer of real estate and condominium assets $ — $ 244,477 Transfer of loans, credit facility and line of credit $ — $ (251,325 ) Transfer of operating assets and liabilities, net $ — $ (14,797 ) Expand
