Biofrontera Stock Price, News & Analysis

Biofrontera Inc. (NASDAQ:BFRI) reported financial results for Q2 2024, showing significant growth. Total revenues increased 34% to $7.8 million compared to Q2 2023. The company's cash position improved to $4.4 million as of June 30, 2024. Biofrontera launched the FDA-approved RhodoLED® XL lamp in June and took control of all U.S. clinical trials for Ameluz®.

Despite revenue growth, the company reported a net loss of $257,000 for Q2 2024, a substantial improvement from the $9.8 million loss in Q2 2023. Adjusted EBITDA was negative $4.7 million, compared to negative $7.9 million in the prior-year quarter. The company raised an additional $8.0 million in May 2024 from warrant exercises and has paid down all outstanding debt.

Biofrontera has launched its FDA-approved RhodoLED XL lamp, a red light emitting LED device for photodynamic therapy (PDT) of actinic keratoses. Used with the Ameluz topical gel, also FDA-approved, the RhodoLED XL is designed to treat mild-to-moderate actinic keratoses on the face and scalp. The device features an expanded treatment area and advanced positioning sensors to optimize energy delivery. It was first shipped on June 10, 2024, and has received positive feedback from dermatology practices, including Cleaver Dermatology. This launch aligns with Biofrontera's commitment to innovation in dermatologic care.

Biofrontera Inc. (Nasdaq: BFRI) announced the results from its 2022 Annual Meeting of Stockholders held on December 12, 2022. Stockholders re-elected Loretta M. Wedge as a Class I director until the 2025 Annual Meeting. They approved an amendment to the 2021 Omnibus Incentive Plan, increasing share issuance by 2,589,800 shares. Additionally, Grant Thornton LLP was ratified as the independent accounting firm for the 2022 fiscal year. Detailed voting results are available in a Current Report on Form 8-K filed with the SEC.

Biofrontera (Nasdaq: BFRI) announced its participation in Benchmark’s 11th Annual Discovery One-on-One Investor Conference on December 1, 2022, in New York, NY. CEO Erica Monaco and Executive Chairman Hermann Lübbert will engage with registered investors through one-on-one meetings and small-group sessions. The company specializes in dermatological products, focusing on treatments for actinic keratoses and impetigo.

For more details, please visit Biofrontera's website.

Biofrontera Inc. (NASDAQ: BFRI) will engage in a Virtual Non-Deal Roadshow Series hosted by Renmark Financial Communications. The live events are scheduled for November 30, December 5, December 9, and December 19, 2022, aimed at discussing the latest investor presentation and company updates. Key speakers include Prof. Hermann Luebbert, Erica Monaco, and Fred Leffler, who will also participate in a live Q&A. Investors can register for each session and access replays through the company’s investor page post-event.

Biofrontera Inc. (Nasdaq: BFRI) reported third quarter revenues of $4.3 million, consistent with Q3 2021, and a 24% increase in revenues for the first nine months of 2022, totaling $18.5 million. The company raised $4.3 million from warrant exercises and strengthened its relationship with Biofrontera AG through an acquisition. Despite a net loss of $2.6 million for Q3 2022, significantly improved from $16.0 million in Q3 2021, adjusted EBITDA for the quarter was negative $5.0 million. The company anticipates revenue growth of 24% to 31% for 2022.

Biofrontera Inc. (Nasdaq: BFRI) will release its financial results for the three and nine months ending September 30, 2022, on November 14, 2022, prior to the U.S. market opening. A conference call is scheduled for the same day at 11:00 a.m. Eastern time to discuss these results and provide a business update. The call can be accessed via phone or a webcast, which will also be available for replay for 90 days. Biofrontera specializes in dermatological pharmaceuticals, notably in treating actinic keratoses and bacterial skin infections.

Biofrontera Inc. (Nasdaq: BFRI) announced the full exercise of options to purchase 2,623,365 ordinary shares of Biofrontera AG and acquired an additional 1,601,318 shares in a private exchange agreement. This brings Biofrontera Inc.'s total ownership to 4,224,683 shares, representing 7.45% of Biofrontera AG’s shares. CEO Erica Monaco emphasized the value of this transaction in strengthening the companies' relationship, noting that Biofrontera Inc. drives the majority of revenue from Biofrontera AG’s products in the dermatology market.

Biofrontera Inc. (Nasdaq: BFRI) has entered into private exchange agreements, issuing 3,148,042 new shares to holders of options to acquire shares of Biofrontera AG. This transaction reduces Biofrontera AG’s stake in Biofrontera Inc. from 34.63% to 29.96%, enhancing Biofrontera Inc.'s independence. The AG Options are immediately exercisable and will support ongoing clinical trials aimed at expanding the Ameluz® label in the U.S. market. The company plans to file a registration statement with the SEC for the shares' resale, further solidifying its market strategy.