Welcome to our dedicated page for Biofrontera news (Ticker: BFRI), a resource for investors and traders seeking the latest updates and insights on Biofrontera stock.
Biofrontera Inc. (Nasdaq: BFRI) is a U.S.-based biopharmaceutical company dedicated to the commercialization of innovative dermatological products. Specializing in the treatment of skin conditions such as actinic keratoses and impetigo, Biofrontera focuses on photodynamic therapy (PDT) and topical antibiotics.
One of the company's flagship products is Ameluz®, a prescription drug used in combination with the BF-RhodoLED® lamp series for PDT. Ameluz is approved for the treatment of actinic keratoses, pre-cancerous skin lesions that can develop into skin cancer if left untreated. Another key product in their portfolio is Xepi®, an antibiotic for treating impetigo, a bacterial skin infection.
In recent news, Biofrontera announced record high revenues for 2023, achieving approximately $34.3 million, up 19% compared to 2022. This growth was driven by increased sales of Ameluz and a stronger financial condition, supported by strategic partnerships and clinical trials. The company also reported a successful securities purchase agreement that raised up to $16 million, aimed at advancing product development and expanding indications for Ameluz.
Biofrontera's forward-looking strategy includes reducing the transfer price of Ameluz from 50% to 25% for 2024 and 2025, taking control of U.S. clinical trials, and making significant strides in regulatory approvals with the FDA. For instance, the FDA has commenced a substantive review of a supplementary New Drug Application to increase the approved dosage of Ameluz, indicating the potential for broader usage.
These developments underscore Biofrontera's commitment to enhancing patient care through advanced dermatological therapies and maintaining a robust growth trajectory in the competitive biopharmaceutical landscape.
Biofrontera Inc. (NASDAQ:BFRI) announced the completion of the last patient visit in a Phase I study for Ameluz® - PDT aimed at treating mild to severe actinic keratosis (AK). The study, conducted by Biofrontera Bioscience GmbH, explored the safety and tolerability of using three tubes of BF-200 ALA 10% gel in expanded treatment fields. Top line results are anticipated in Q4 2023. CEO Erica Monaco emphasized this milestone as a significant advancement, potentially allowing broader treatment areas and fewer office visits for patients. Actinic keratosis is a common pre-cancerous condition affecting approximately 58 million U.S. residents, highlighting the importance of effective treatment options.
Biofrontera Inc. (NASDAQ:BFRI) announced a significant investment in expanding its salesforce by almost 30%, thereby increasing coverage to 40 territories in 2023. This strategic move aims to enhance outreach for their FDA-approved therapy for actinic keratosis, Ameluz®-PDT, further penetrating dermatology markets. CEO Erica Monaco highlighted the company’s success in 2022, achieving record revenues and market share with a reduced sales team. The addition of 140 years of healthcare experience is expected to bolster growth and market presence. The company remains optimistic about future performance despite potential challenges outlined in their forward-looking statements.
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