Biofrontera Inc. - BFRI STOCK NEWS

Biofrontera (Nasdaq: BFRI) announced that its Ameluz® marketing campaign has received two awards from PM360: “Relaunch/Revitalization of the Year” and “Professional Website/Online Initiative of the Year.” The awards were presented at the 14th Annual Trailblazer Awards on September 22, 2022. The campaign, titled “Danger Lurks Below the Surface,” aimed to raise awareness of actinic keratoses (AK). CEO Erica Monaco emphasized the campaign's impact on revenue growth and brand awareness in the PDT market. The Ameluz campaign has also earned recognition from other industry awards.

Biofrontera (Nasdaq: BFRI) announced the appointment of Gerard DiGirolamo as National Sales Director, effective September 13, 2022. In this newly created role, DiGirolamo will oversee U.S. sales strategies and recruitment for the company’s dermatological products, including Ameluz® and BF-RhodoLED®.

With over 25 years of experience, he previously served as Vice President of Sales at Verrica Pharmaceuticals. His expertise in dermatology and established industry relationships are expected to enhance Biofrontera's commercial initiatives, including the launch of BF-RhodoLED XL®.

Biofrontera Inc. (Nasdaq: BFRI) announced the USPTO's notice of allowance for patent application No. 12/520,759, related to a novel nanoemulsion formulation. This patent covers compositions improving stability and cell penetration for dermatological treatments, enhancing the efficacy of Ameluz®. The company has also received a special designation for expedited review of a patent on novel photodynamic therapy (PDT) illumination protocols, further reinforcing its market position. This positions Biofrontera to broaden its offerings in dermatological treatments.

Biofrontera Inc. (Nasdaq: BFRI) announced that Leslie Hopkins, Associate Director of Marketing, was named a Trailblazer Brand Champion in Dermatology by PM360. The company’s Ameluz^® campaign also earned nominations for “Relaunch/Revitalization of the Year” and “Professional Website/Online Initiative of the Year.” This recognition highlights the innovative marketing efforts led by Hopkins in raising awareness of photodynamic therapy for actinic keratosis. The PM360 awards ceremony will take place on September 22 in New York City.

Biofrontera Inc. (Nasdaq: BFRI) reported Q2 2022 revenues of $4.5 million, down 24% year-over-year, while total revenues for H1 2022 reached $14.2 million, up 34%. The company raised $8.7 million through a private placement and an additional $4.3 million post-quarter from warrant exercises. Operating expenses increased to $10.7 million in Q2, leading to a net loss of $0.9 million. Cash and equivalents stood at $31.9 million as of June 30, 2022. The company maintains its 2022 revenue guidance, projecting at least a 30% increase over 2021.

Biofrontera Inc. (Nasdaq: BFRI) announced it will report its financial results for the second quarter ended June 30, 2022, before the U.S. markets open on August 12, 2022. A conference call is scheduled for the same day at 11:00 a.m. Eastern time to discuss the results, provide a business update, and answer questions. The company's focus is on the commercialization of dermatological products, particularly for treating actinic keratoses and impetigo.

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.