Biofrontera Inc Stock Price, News & Analysis

Biofrontera Inc. (Nasdaq: BFRI) announced a significant achievement with the Australian Patent Office granting a notice of allowance for their patent regarding innovative photodynamic therapy (PDT) protocols. This patent enhances the efficacy of Ameluz-PDT by combining reduced pain from daylight PDT with the effectiveness of conventional therapies. The innovation aims to improve treatment for skin diseases while minimizing patient discomfort. Hermann Luebbert emphasized the competitive advantage this patent offers, potentially leading to further protections of Ameluz in other regions, including the U.S.

Biofrontera (Nasdaq: BFRI) announced agreements with holders of existing warrants for 2,857,143 shares of common stock. The company has reduced the strike price from $5.25 to $1.62, prompting holders to exercise their warrants. Additionally, Biofrontera will issue new warrants for 4,285,715 shares at a strike price of $1.66, raising approximately $4.69 million. The company plans to file a registration statement within 30 days to register the resale of shares underlying the new warrants. This event is seen as a strategic move to bolster cash flow.

Biofrontera Inc. announced preliminary unaudited product revenues for Q2 and H1 2022, projecting revenues between $14.1 million and $14.3 million for the first half, a rise of 34% to 36% year-over-year and the highest in company history. However, Q2 revenues are expected to decrease by 21% to 25% compared to Q2 2021 due to a price increase implemented in April 2022. CEO Erica Monaco emphasized strong year-to-date performance and reaffirmed guidance for a 30% annual revenue growth. Final results are expected in August 2022.

WOBURN, Mass., May 31, 2022 (GLOBE NEWSWIRE) -- Biofrontera (Nasdaq: BFRI) announced its participation in The Benchmark Healthcare House Call Virtual 1x1 Conference on June 2, 2022. Erica Monaco, CEO, and Hermann Lübbert, Executive Chairman, will engage with registered investors through virtual meetings and small group sessions.

Biofrontera is a biopharmaceutical company focused on dermatological products, including treatments for actinic keratoses and impetigo. For further information, visit biofrontera-us.com.

Biofrontera Inc. (Nasdaq: BFRI) highlights data from the American Cancer Society showing approximately 3.4 million U.S. residents may be diagnosed with non-melanoma skin cancer (NMSC) in 2022. This supports the commercial opportunity for Ameluz^®, its flagship product. A recent market report forecasts the global NMSC market to grow by over $180 million with a CAGR of 5.8% until 2026. The company is focused on establishing Ameluz^® as the leading PDT drug for actinic keratosis, with multiple ongoing clinical studies to expand its market potential.

Biofrontera Inc. has successfully closed a $9.4 million private placement with a single institutional investor. This funding will primarily support the company's commercial strategy, aiming to strengthen customer relationships and enhance sales infrastructure.

CEO Erica Monaco emphasized the importance of the funds for expanding market presence and advancing clinical trials for their flagship product, Ameluz®, which treats actinic keratosis. The transaction involved the sale of 3,419,000 shares at $2.75 each, with warrants for more shares at an exercise price of $2.77.

Biofrontera, Inc. (Nasdaq: BFRI; BFRIW) has entered a securities purchase agreement with an institutional investor for 3,419,000 shares of common stock at $2.75 per share, plus warrants for an additional 3,419,000 shares. The total gross proceeds are projected to be approximately $9.4 million, with the offering expected to close by May 17, 2022.

Roth Capital Partners and The Benchmark Company are the exclusive placement agents. The company is obligated to file a registration statement for resale within 15 days of the deal's closing.

Biofrontera Inc. (BFRI) reported a 106% increase in total revenues for Q1 2022, amounting to $9.8 million, compared to Q1 2021. Cash reserves stood at $22.4 million as of March 31, 2022, down from $24.5 million at the end of 2021. The company aims for at least 30% revenue growth in 2022, driven by expanded sales efforts and market penetration. While net income rose to $5.6 million, adjusted EBITDA remained negative at $3.0 million. A dedicated key accounts team has been established to adapt to industry changes.