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Biofrontera Inc. (NASDAQ:BFRI), a pharmaceutical company incorporated in Delaware currently valued at $6.38 million, has received a notification from The Nasdaq Stock Market LLC on May 8, 2025, regarding non-compliance with the Nasdaq Listing Rule 5550(a)(2). According to InvestingPro analysis, the company is currently trading below its Fair Value, though facing significant operational challenges with a net loss of $17.76 million in the last twelve months. The rule requires that the closing bid price of the company’s common stock must be at least $1.00 per share. Biofrontera’s stock failed to meet this requirement for 33 consecutive business days.
The notification does not immediately affect the company’s listing on The Nasdaq Capital Market. Biofrontera has been granted a 180-day period, ending on November 5, 2025, to regain compliance. The stock has already declined 34% year-to-date and is trading near its 52-week low of $0.65, reflecting ongoing market concerns. InvestingPro subscribers can access 8 additional key insights about BFRI’s financial health and market position. The company must maintain a minimum closing bid price of $1.00 per share for at least 10 consecutive business days within this timeframe to meet the standard.
If Biofrontera cannot regain compliance by the deadline, it may be eligible for an extension. To qualify, the company must meet all other applicable Nasdaq Capital Market standards, except for the minimum bid price, and may need to implement measures such as a reverse stock split. While the company maintains a current ratio of 1.72 and holds more cash than debt on its balance sheet, InvestingPro’s comprehensive analysis indicates an overall Financial Health score of "FAIR," with detailed metrics available in the Pro Research Report. If Nasdaq determines that compliance is not achievable, or if other listing criteria are not met, Biofrontera’s securities may be delisted. The company would then have the right to appeal the decision to a Hearings Panel.
Biofrontera intends to monitor its stock’s closing bid price closely and is considering options to address the deficiency and regain compliance. However, there is no guarantee that the company will achieve compliance with Rule 5550(a)(2) or maintain compliance with other Nasdaq Capital Market listing requirements.
This news is based on information from a press release statement.
In other recent news, Biofrontera reported a 9.5% increase in total revenues for 2024, reaching $37.3 million, although its fourth-quarter revenue of $12.6 million fell short of expectations. Despite this, the company saw an 18.5% year-over-year increase in Q4 revenues. The company did, however, report a net loss of $17.8 million for the year, but improved its cash position to $5.9 million and adjusted EBITDA to -$15.3 million. Benchmark analysts maintained their Buy rating for Biofrontera, with a price target of $7, despite the revenue shortfall.
Biofrontera is optimistic about future growth, with expectations for reacceleration in 2025 due to new labeling that allows a higher dosage of Ameluz. The company also plans to file a supplemental New Drug Application for the treatment of superficial Basal Cell Carcinoma by the third quarter of 2025. The anticipated revenue growth is supported by strategic shifts, including a reduction in the transfer price of Ameluz and control over U.S. clinical trials. Additionally, Biofrontera achieved significant results in a Phase 3 study of Ameluz for treating superficial Basal Cell Carcinoma, with plans to expand indications for the product in the coming years.
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