Biofrontera Sees Prelim. FY23 Revenue ~$33.8M-$34.3M Vs $35.92M Est.
Portfolio Pulse from Benzinga Newsdesk
Biofrontera AG has released preliminary financial results for FY23, expecting revenues to be between $33.8M and $34.3M, which is below the estimated $35.92M.
January 11, 2024 | 9:23 pm
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NEGATIVE IMPACT
Biofrontera AG's preliminary FY23 revenue forecast is lower than analysts' expectations, which could lead to negative investor sentiment and a potential decrease in stock price.
Revenue forecasts that fall short of analyst estimates typically result in negative market reactions, as they suggest a company's performance is not meeting expectations. This can lead to a decrease in investor confidence and a potential drop in the stock price of BFRI in the short term.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100