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Biofrontera Inc. (NASDAQ:BFRI) announced today that it has filed a supplement to its Proxy Statement originally filed with the Securities and Exchange Commission on April 30, 2025. The supplement revises the initial disclosure regarding the implications for stockholders who do not vote on a proposal. This update is intended to clarify the original information provided to stockholders. The announcement comes as the company, currently valued at $5.4 million, faces significant challenges with its stock down nearly 40% year-to-date according to InvestingPro data.
The supplement is included as Exhibit 99.1 in the company’s current report on Form 8-K. Biofrontera encourages all stockholders to review both the Proxy Statement and the Supplement to ensure they are informed about the proposals to be voted on at the upcoming annual meeting. InvestingPro analysis reveals the company is rapidly burning through cash, with a negative free cash flow yield and EBITDA of -$16 million in the last twelve months.
Biofrontera Inc., incorporated in Delaware, is classified under the pharmaceutical preparations industry. The company’s principal executive offices are located in Woburn, Massachusetts. The company is recognized as an emerging growth company under the Securities Act of 1933 and the Securities Exchange Act of 1934.
This information is based on a press release statement from Biofrontera Inc.
In other recent news, Biofrontera Inc. reported a 9% increase in first-quarter 2025 revenues, reaching $8.6 million, although this fell short of some analyst projections. The company also saw a significant improvement in its net loss, which decreased to $4.2 million from $10.4 million the previous year. Biofrontera has secured a patent for a propylene glycol-free formulation of Ameluz, extending protection until 2043, which was recently listed in the FDA’s Orange Book. This development is expected to prevent generic competition while enhancing patient experience by reducing allergic reactions. Analyst Bruce Jackson from Benchmark revised the company’s stock price target to $2.75, down from $7.00, but maintained a Buy rating, citing potential alignment with average revenue projections for similar companies. Biofrontera plans to introduce new labeling for Ameluz, allowing increased dosage, which is anticipated to boost sales. The company is also pursuing new indications for Ameluz, including treatments for superficial basal cell carcinoma and actinic keratosis on the extremities, with market introductions expected in 2026 and 2027, respectively. These strategic moves are part of Biofrontera’s broader plan to strengthen its position in the dermatology market.
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