- Benchmark initiated coverage of Biofrontera Inc (NASDAQ:BFRI) with a Buy rating and $11 price target.
- The Company specializes in medical dermatology, which recently came public in the U.S. as a carve-out from Germany’s Biofrontera AG (NASDAQ:BFRA).
- Ameluz and Xepi are Biofrontera’s current lead products.
- Ameluz is poised for “significant growth” given a combination of superior efficacy, attractive reimbursement, and an expanding sales force, writes analyst Bruce Jackson.
- On Monday, Biofrontera enrolled the first subject in the Phase 2b study to evaluate the safety and efficacy of Ameluz in combination with the red-light lamp BF-RhodoLED for moderate-to-severe acne with photodynamic therapy.
- The study with four arms will include 126 adult patients.
- Price Action: BFRI shares are up 21.8% at $6.70 during the market session on the last check Wednesday.
Mid-Day Market Update: Crude Oil Rises 0.5%; Integrated Media Technology Shares Jump
Midway through trading Thursday, the Dow traded up 0.04% to 36,504.54 while the NASDAQ rose 0.59% to 15,859.87. The S&P also rose, gaining 0.14% to 4,799.86.
