UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

(Mark One)

☒	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2025

☐	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _______________ to _______________

Commission file number 001-40943

Biofrontera Inc.

(Exact name of registrant as specified in its charter)

Delaware

47-3765675

(State or other jurisdiction of

incorporation or organization)

(IRS Employer

Identification No.)

120 Presidential Way, Suite 330, Woburn,

Massachusetts

01801

(Address of principal executive offices)

(Zip Code)

(781) 245-1325

(Registrant’s telephone number, including area code)

Not Applicable

(Former name, former address and former fiscal year, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common stock, par value $0.001 per share	BFRI	The Nasdaq Stock Market LLC
Preferred Stock Purchase Rights	true	The Nasdaq Stock Market LLC
Warrants to purchase common stock	BFRIW	The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	☐	Accelerated filer	☐
Non-accelerated filer	☒	Smaller reporting company	☒
Emerging growth company	☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

As of November 10, 2025 there were 11,648,323 shares outstanding of the registrant’s common stock, par value $0.001 per share.

TABLE OF CONTENTS

	PART I. FINANCIAL INFORMATION

ITEM 1.	Financial Statements	3
	Condensed Consolidated Balance Sheets as of September 30, 2025 (unaudited) and December 31, 2024	3
	Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2025 (unaudited) and 2024 (unaudited)	4
	Condensed Consolidated Statements of Stockholders’ Equity (Deficit) for the three and nine months ended September 30, 2025 (unaudited) and 2024 (unaudited)	5
	Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2025 (unaudited) and 2024 (unaudited)	6
	Notes to Condensed Consolidated Financial Statements	7
ITEM 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	22
ITEM 3.	Quantitative and Qualitative Disclosures About Market Risk	34
ITEM 4.	Controls and Procedures	34

	PART II. OTHER INFORMATION

ITEM 1.	Legal Proceedings	35
ITEM 1A.	Risk Factors	35
ITEM 2.	Unregistered Sales of Equity Securities and Use of Proceeds	35
ITEM 3.	Defaults Upon Senior Securities	35
ITEM 4.	Mine Safety Disclosures	35
ITEM 5.	Other Information	35
ITEM 6.	Exhibits	36
Signatures		37

PART I. FINANCIAL INFORMATION

Item 1. Financial Statements

BIOFRONTERA INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except par value and share amounts)

	September 30, 2025			December 31, 2024
		(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents	$	3,417		$	5,905
Investment, related party		10			7
Accounts receivable, net		2,995			5,315
Inventories, net		4,329			6,646
Prepaid expenses and other current assets		629			527
Asset held for sale		2,300			2,300
Other assets, related party		733			-

Total current assets		14,413			20,700

Property and equipment, net		20			80
Operating lease right-of-use assets		488			903
Intangible assets, net		22			35
Other assets		472			383

Total assets	$	15,415		$	22,101

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable		3,639			1,856
Accounts payable, related parties, net		2,054			5,344
Operating lease liabilities		307			548
Accrued expenses and other current liabilities		6,553			4,273

Total current liabilities		12,553			12,021

Long-term liabilities:
Convertible notes payable, net		4,462			4,098
Warrant liabilities		833			1,250
Operating lease liabilities, non-current		136			276
Other liabilities		12			23

Total liabilities		17,996			17,668

Commitments and contingencies (see Note 15)		-			-

Stockholders’ (deficit) equity:
Preferred Stock $0.001 par value; 20,000,000 shares authorized		-			-
Series B-2 Convertible Preferred, 2,050 and 3,366 issued and outstanding as of September 30, 2025 and December 31, 2024, respectively		-			-
Series B-3 Convertible Preferred, 6,593 and 6,763 issued and outstanding as of September 30, 2025 and December 31, 2024, respectively		-			-
Series C Convertible Preferred, 8,219 and 0 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively		-			-
Series D Convertible Preferred, 3,019 and 0 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively		-			-
Preferred Stock		-			-
Common Stock $0.001 par value; 70,000,000 shares authorized; 11,648,323 and 8,873,932 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively		12			9
Additional paid-in capital		130,992			121,833
Accumulated deficit		(133,585	)		(117,409	)

Total stockholders’ (deficit) equity		(2,581	)		4,433

Total liabilities and stockholders’ equity	$	15,415		$	22,101

The accompanying notes are an integral part of these condensed consolidated financial statements.

BIOFRONTERA INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share amounts and number of shares)

(Unaudited)

	2025			2024			2025			2024
	Three Months Ended September 30,						Nine Months Ended September 30,
	2025			2024			2025			2024

Product revenues, net	$	6,988		$	9,012			24,605			24,744
Revenues, related party		-			-			-			18

Total revenues, net		6,988			9,012			24,605			24,762

Operating expenses
Cost of revenues, related party		1,922			4,801			7,377			12,839
Cost of revenues, other		123			76			578			496
Cost of revenues		123			76			578			496

Selling, general and administrative		10,047			8,425			29,229			25,589
Selling, general and administrative, related party		320			1			396			30
Research and development		854			669			2,932			1,306

Total operating expenses		13,266			13,972			40,512			40,260

Loss from operations		(6,278	)		(4,960	)		(15,907	)		(15,498	)

Other income (expense)
Change in fair value of warrants		(285	)		(680	)		417			1,329
Change in fair value of investment, related party		1			(2	)		3			(12	)
Loss on debt extinguishment		-			-			-			(316	)
Interest income (expense), net		(111	)		8			(331	)		(1,995	)
Other income (expense), net		30			(32	)		(333	)		154

Total other income (expense)		(365	)		(706	)		(244	)		(840	)

Loss before income taxes		(6,643	)		(5,666	)		(16,151	)		(16,338	)
Income tax expense		6			3			25			25

Net loss	$	(6,649	)		(5,669	)		(16,176	)		(16,363	)

Loss per common share:
Basic and diluted	$	(0.62	)		(0.98	)		(1.67	)		(3.39	)

Weighted-average common shares outstanding:
Basic and diluted		10,776,739			5,773,993			9,674,378			4,833,091

The accompanying notes are an integral part of these condensed consolidated financial statements.

BIOFRONTERA INC.

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIT)

(In thousands, except number of shares)

(Unaudited)

	Shares			Amount		Shares		Amount		Capital			Deficit			Total
	Three and Nine Months Ended September 30, 2025
	Preferred Stock					Common Stock				Additional Paid-in			Accumulated
	Shares			Amount		Shares		Amount		Capital			Deficit			Total
Balance, June 30, 2025		9,234			-		10,138,567		9		122,259			(126,936	)		(4,668	)
Issuance of Series C Preferred		8,500			-		-		-		8,500						8,500
Issuance of Series D Preferred, net of receivable from shareholder		3,019			-		-		-		-			-			-
Conversion of Series B-2 Preferred into Common		(591	)		-		835,083		1		(2	)		-			(1	)
Conversion of Series C Preferred into Common		(281	)		-		449,673		2		(1	)		-			1
Release of Restricted Stock Units		-					225,000		-		-			-			-
Stock based compensation		-			-		-		-		236			-			236
Net loss		-			-		-		-		-			(6,649	)		(6,649	)
Balance, September 30, 2025		19,881			-		11,648,323		12		130,992			(133,585	)		(2,581	)

Balance, December 31, 2024		10,129			-		8,873,932		9		121,833			(117,409	)		4,433
Issuance of Series C Preferred		8,500			-		-		-		8,500			-			8,500
Issuance of Series D Preferred, net of receivable from shareholder		3,019			-		-		-		-			-			-
Conversion of Series B-2 Preferred into Common		(1,316	)		-		1,859,508		2		(2	)		-			-
Conversion of Series B-3 Preferred into Common		(170	)		-		240,210		-		-			-			-
Conversion of Series C Preferred into Common		(281	)		-		449,673		1		(1	)		-			-
Restricted Stock Units released		-			-		225,000		-
Stock based compensation		-			-		-		-		662			-			662
Net loss		-			-		-		-		-			(16,176	)		(16,176	)
Balance, September 30, 2025		19,881			-		11,648,323		12		130,992			(133,585	)		(2,581	)

	Three and Nine Months Ended September 30, 2024
	Preferred Stock					Common Stock				Additional Paid-in			Accumulated
	Shares			Amount		Shares		Amount		Capital			Deficit			Total
Balance, June 30, 2024		12,804			-		5,094,184		5		121,250			(110,344	)		10,911
Conversion of Series B Preferred into Common		(1,016	)		-		1,435,608		2		(2	)		-			-
Stock based compensation											288						288
Net loss														(5,669	)		(5,669	)
Balance, September 30, 2024		11,788			-		6,529,792		7		121,536			(116,013	)		5,530

Balance, December 31, 2023		-		$	-		1,517,628	$	2	$	104,441		$	(99,650	)	$	4,793
Balance		-		$	-		1,517,628	$	2	$	104,441		$	(99,650	)	$	4,793
Exercise of pre-funded warrants		-			-		1,055,000		1		(1	)		-			-
Conversion of Series B-1 Preferred into Series B-2 Preferred and common stock		3,790			-		3,952,393		4		3,566			-			3,570
Issuance of Series B-3 upon exercise of warrants		7,998			-		-		-		12,810			-			12,810
Issuance of RSUs		-			-		4,771		-		-			-			-
Stock based compensation		-			-		-		-		720			-			720
Net loss		-			-		-		-					(16,363	)		(16,363	)
Balance, September 30, 2024		11,788			-		6,529,792		7		121,536			(116,013	)		5,530
Balance		11,788			-		6,529,792		7		121,536			(116,013	)		5,530

The accompanying notes are an integral part of these condensed consolidated financial statements.

BIOFRONTERA INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In Thousands)

(Unaudited)

	2025			2024
	Nine Months Ended September 30,
	2025			2024
Cash flows from operating activities:

Net loss	$	(16,176	)	$	(16,363	)

Adjustments to reconcile net loss to cash flows used in operations:

Depreciation		64			62
Amortization of right-of-use assets		572			541
Amortization of acquired intangible assets		12			325
Realized/unrealized (gain)/ loss in investment, related party		(3	)		12
Loss on settlement of lease liability		7			-
Change in fair value of warrant liabilities		(417	)		(1,329	)
Stock-based compensation		662			720
Allowance for credit losses		(44	)		111
Loss on debt extinguishment		-			316
Non-cash interest expense		364			248

Changes in operating assets and liabilities:
Accounts receivable		2,365			177
Other receivables, related party		68			19
Prepaid expenses and other assets		(191	)		34
Other assets, related party		(733	)		5,159
Inventories		2,317			4,380
Accounts payable		1,782			(1,281	)
Accounts payable, related party , net		(3,358	)		(2,037	)
Operating lease liabilities		(546	)		(511	)
Accrued expenses and other liabilities		2,270			164

Cash flows used in operating activities		(10,985	)		(9,253	)

Cash flows from investing activities
Sales of equity investment, related party		-			57
Purchase of intangible assets		-			(50	)
Purchases of property and equipment		(3	)		(9	)

Cash flows used in investing activities		(3	)		(2	)

Cash flows from financing activities
Proceeds from issuance of Series C preferred stock		8,500			-
Proceeds from issuance of series B-1 preferred stock and warrants to purchase series B-3 preferred stock, net of issuance costs		-			7,662
Proceeds from issuance of series B-3 from exercise of warrants		-			7,438
Payment to extinguish line of credit		-			(357	)
Payment of principal short-term debt		-			(3,958	)

Cash flows provided by financing activities		8,500			10,785

Net increase (decrease) in cash and cash equivalents		(2,488	)		1,530
Cash, cash equivalents and restricted cash, at the beginning of the period		6,105			1,543

Cash, cash equivalents and restricted cash, at the end of the period	$	3,617		$	3,073

Supplemental disclosure of cash flow information
Interest paid	$	4		$	1,722
Income taxes paid, net	$	25		$	25

Supplemental non-cash financing activities
Addition of right-of-use assets in exchange for operating lease liabilities	$	98		$	27
Conversion of warrant liability to equity	$	-		$	5,372

The accompanying notes are an integral part of these condensed consolidated financial statements.

Biofrontera Inc.

Notes to Condensed Consolidated Financial Statements

(Unaudited)

1. Organization and Business Overview

Biofrontera Inc., a Delaware Corporation (the “Company,” “we,” “us,” “our,” or “Biofrontera”), is a United States-based biopharmaceutical company commercializing a portfolio of pharmaceutical products for the treatment of dermatological conditions with a focus on photodynamic therapy (“PDT”). The Company’s primary licensed products are used for the treatment of actinic keratoses, which are pre-cancerous skin lesions.

The Company includes its wholly owned subsidiary Biofrontera Discovery GmbH (“Discovery”), a limited liability company organized under the laws of Germany, formed on February 9, 2022, as a German presence to facilitate our relationship with Biofrontera Pharma GmbH (“Biofrontera Pharma”) and Biofrontera Bioscience GmbH (“Biofrontera Bioscience” and together with Biofrontera Pharma, the “Ameluz Licensor”) and manage our clinical trial work.

Our principal licensed product is Ameluz^®, which is a prescription drug approved for use in combination with the RhodoLED^®Lamps, for PDT (when used together, “Ameluz^® PDT”). In the United States, the PDT treatment is used for the lesion-directed and field-directed treatment of actinic keratoses of mild-to-moderate severity on the face and scalp. Prior to the closing of the Strategic Transaction on October 20, 2025, we were selling Ameluz^® for this indication in the United States under an exclusive license and supply agreement (as amended, the “Second A&R Ameluz LSA”) with the Ameluz Licensor, both of which are related parties.

Effective June 1, 2024, we assumed control of all clinical trials relating to Ameluz^®in the United States, allowing for more effective cost management and direct oversight of trial efficiency. Our research and development (“R&D”) program is focused on label expansion for Ameluz^® as well as supporting PDT growth by improving the capabilities of our RhodoLED^® Lamps to better fulfill the needs of dermatologists.

Strategic Transaction with Biofrontera AG

On June 30, 2025, the Company signed a binding agreement (the “Term Sheet”) with its former parent company Biofrontera AG and its subsidiaries, Biofrontera Pharma and Biofrontera Bioscience (together, the “Biofrontera Group”) pursuant to which the Company agreed to acquire all rights in the United States (the “U.S. Rights”) to Ameluz^® and RhodoLED^® (the “Strategic Transaction”). In connection with the Strategic Transaction, additional agreements were executed, and the transfer of the U.S. Rights was completed on October 20, 2025. As a result of these actions, the Company will pay a monthly earnout of 12% in years where Ameluz^® revenue in the United States is at or below $65.0 million and 15% in years where Ameluz^® revenue in the United States exceeds $65.0 million. The earnout replaces the transfer pricing model under the Company’s Second A&R Ameluz LSA effective as of February 13, 2024 by and among the Company, and the Biofrontera Group. See Note 11. Related Party Transactions and Note 17. Subsequent Events for additional information.

In exchange for the U.S. Rights, in addition to the aforementioned earnout and an agreement to transfer all costs associated with the U.S. business, Biofrontera AG received 3,019 shares of Series D Convertible Preferred Stock, par value $0.001 per share (the “Series D Preferred Stock”). See Note 11. Related Party Transactions and Note 17. Subsequent Events for additional information.

The transaction was funded through an $11 million investment by existing investors, $8.5 million of which was funded at the time the Term Sheet was executed and the remaining $2.5 million was funded on October 24, 2025, following the closing of the Strategic Transaction. See Note 12. Stockholders’ Equity and Note 17. Subsequent Events.

Liquidity and Going Concern

These consolidated financial statements have been prepared in accordance with U,S. generally accepted accounting principles (“U.S. GAAP”) assuming the Company will continue as a going concern. The going concern assumption contemplates the realization of assets and satisfaction of liabilities in the normal course of business.

Since we commenced operations in 2015, we have generated significant losses. The Company incurred net cash outflows from operations of $11.0 million and $9.3 million for the nine months ended September 30, 2025 and 2024, respectively. The Company had an accumulated deficit as of September 30, 2025 of $133.6 million. The Company’s primary sources of liquidity are its cash collected from the sales of its products, and cash flows from financing transactions, including $11.0 million received in a private placement of Series C Preferred Stock (received in two separate tranches of $8.5 million in July 2025 and $2.5 million in October 2025). As of September 30, 2025, we had cash and cash equivalents of $3.4 million, compared to $5.9 million as of December 31, 2024. These factors raise substantial doubt about the Company’s ability to continue as a going concern for a period of at least twelve months from the issuance date of this report.

The Company plans to address the conditions that raise substantial doubt regarding its ability to continue as a going concern by, among other things, utilizing external financing options, including a short-term line of credit, as well as finalizing the sale of its Xepi product line on November 6, 2025. See Note 17. Subsequent Events. However, there can be no assurance that the Company will be successful in obtaining sufficient funding on acceptable terms, if at all. If the Company is unable to raise additional capital when needed, it will not have sufficient cash resources and liquidity to fund its business operations and may be forced to delay or reduce continued commercialization efforts or R&D programs which could have a material adverse effect on the Company and its financial statements.

The consolidated financial statements do not include any adjustments to the carrying amounts and classification of assets, liabilities, and reported expenses that may be necessary if the Company were unable to continue as a going concern.

2. Summary of Significant Accounting Policies

Basis for Preparation of the Financial Statements

The accompanying unaudited interim condensed consolidated financial statements of the Company have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial reporting. Certain information and footnote disclosures normally included in the annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such rules and regulations. In the Company’s opinion, the unaudited condensed consolidated financial statements include all material adjustments, all of which are of a normal and recurring nature, necessary to present fairly the Company’s financial position as of September 30, 2025, the Company’s operating results for the three and nine months ended September 30, 2025 and 2024, and the Company’s cash flows for the nine months ended September 30, 2025 and 2024. The accompanying financial information as of December 31, 2024 is derived from audited financial statements. Interim results are not necessarily indicative of results for a full year. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on March 20, 2025.

All amounts shown in these financial statements and tables are in thousands and amounts in the notes are in millions, except percentages and per share and share amounts.

With the exception of the accounting policies below, there have been no new or material changes to the significant accounting policies discussed in the Company’s Form 10-K for the year ended December 31, 2024.

Reclassification of Prior Year Presentation

Certain prior period amounts have been reclassified for consistency with the current period presentation. The reclassification was limited to the condensed consolidated statements of cash flow and had no impact on the reported results of operations. Specifically, for prior year presentation, accounts payable-related parties of $2.0 million was reclassed from accounts payable to accounts payable, related party, net.

The Nasdaq Stock Market, LLC (“Nasdaq”) Compliance

On May 8, 2025, the Company received a letter from Nasdaq notifying the Company that the listing of the Common Stock was not in compliance with Nasdaq Listing Rule 5550(a)(2) as the closing bid price of the Common Stock was less than $1.00 per share for the previous 33 consecutive business days.

The notice had no present impact on the listing or trading of the Company’s securities on Nasdaq. Under Nasdaq Listing Rule 5810(c)(3)(A), the Company had a period of 180 calendar days, or until November 5, 2025, to regain compliance with the rule referred to in this paragraph. The Company has since then regained compliance with Listing Rule 5550(a)(2). See Note 17. Subsequent Events for additional information.

On May 21, 2025, the Company received a notice from Nasdaq notifying the Company that, because the Company’s stockholders’ equity as reported in its Quarterly Report on Form 10-Q for the period ended March 31, 2025 was $0.5 million, the Company was no longer in compliance with the continued listing requirement under Nasdaq Listing Rule 5550(b)(1), which requires that a listed company’s stockholders’ equity be at least $2.5 million. Additionally, as of the date of the notice and as of September 30, 2025, the Company did not meet either of the alternative requirements of maintaining a market value of listed securities of $35 million or achieving a net income from continuing operations of $0.5 million in the most recently completed fiscal year or in two of the last three most recently completed fiscal years.

The notice had no immediate effect on the listing or trading of the Company’s securities on Nasdaq. The Company submitted a plan to regain compliance with the Nasdaq Listing Rule 5550(b)(1) to Nasdaq and on July 24, 2025 was subsequently granted an extension of time to regain compliance with this rule on or before October 24, 2025. As of the date of this Report, the Company believes its stockholders’ equity exceeds $5 million, which exceeds the amount required for continued listing on Nasdaq under Nasdaq Listing Rule 5550(b)(1). Nasdaq will continue to monitor the Company’s ongoing compliance with the stockholders’ equity requirement and, if at the time of its next periodic report the Company does not evidence compliance, it may be subject to delisting. See Note 17. Subsequent Events for additional information.

Use of Estimates

The preparation of the consolidated financial statements in accordance with U.S. GAAP requires the use of estimates and assumptions by management that affect the reported amounts of assets and liabilities, as well as disclosure of contingent assets and liabilities, as reported on the balance sheet date, and the reported amounts of revenues and expenses arising during the reporting period. The main areas in which assumptions, estimates and the exercising of judgment are appropriate relate to realization and valuation of receivables and inventory, valuation of warrant liabilities, impairment assessment of intangibles and other long-lived assets, share-based payments, deferred tax asset valuations, and contingent liability recognition. Estimates are based on historical experience and other assumptions that are considered appropriate in the circumstances. They are continuously reviewed but may vary from the actual values.

Recently Issued Accounting Pronouncements

In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-09, Income Taxes (Topic 740) – Improvements to Income Tax Disclosures. The ASU requires that an entity disclose specific categories in the effective tax rate reconciliation as well as provide additional information for reconciling items that meet a quantitative threshold. Further, the ASU requires certain disclosures of state versus federal income tax expense and taxes paid. The amendments in this ASU are required to be adopted for fiscal years beginning after December 15, 2024. Early adoption is permitted and the amendments should be applied on a prospective basis. ASU 2023-09 did not have any impact on the interim disclosures in 2025. We are evaluating the effect that this guidance will have on our annual consolidated financial statements and related disclosures.

In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expense. The new guidance requires disaggregated information about certain income statement expense line items on an annual and interim basis. This ASU is effective for public business entities for annual reporting periods beginning afte

SEC Form 10-Q filed by Biofrontera Inc.