Biofrontera Shares Are Trading Higher After Benchmark Initiates Coverage

Biofrontera Shares Are Trading Higher After Benchmark Initiates Coverage
  • Benchmark initiated coverage of Biofrontera Inc 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 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.

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