Street Calls of the Week
Biofrontera Inc. (NASDAQ:BFRI), a healthcare company currently trading at $0.90 per share with a market capitalization of $9.21 million, announced that stockholders approved all proposals at a special meeting held Tuesday, according to a statement based on a recent SEC filing. InvestingPro data shows the company has achieved 11.2% revenue growth over the last twelve months, though it faces profitability challenges.
Stockholders authorized an amendment to the company’s certificate of incorporation to allow a reverse split of common stock, if deemed necessary by the board, to maintain or regain compliance with the minimum closing bid price required for continued listing on The Nasdaq Stock Market LLC. The amendment also permits a decrease in the number of authorized shares in the same ratio as the reverse split. The proposal received 7,161,214 votes in favor, 1,239,537 against, and 3,110 abstentions.
Approval was also given for the issuance of shares of common stock related to the conversion of Series C Preferred Stock, as well as the removal of voting limitations on these shares. This proposal received 3,470,432 votes for, 389,984 against, 26,419 abstentions, and 2,933,376 broker non-votes.
A separate proposal for the issuance of common stock in connection with the conversion of Series D Preferred Stock, and the elimination of voting limitations for these shares, was approved with 5,053,120 votes for, 390,996 against, 26,369 abstentions, and 2,933,376 broker non-votes.
Stockholders also approved the adjournment of the special meeting to a later date if necessary to solicit additional votes for any of the above proposals. This measure received 7,371,647 votes in favor, 1,011,820 against, and 20,394 abstentions.
The company reported that proxies were solicited pursuant to Regulation 14A, with a quorum present for all proposals. The information is based on a press release statement included in the company’s recent SEC filing.
In other recent news, Biofrontera Inc. reported its financial results for the second quarter of 2025, noting a 15.4% increase in total revenues compared to the same period last year. Despite the revenue growth, the company experienced a net loss of $5.3 million. In another development, Biofrontera announced the completion of its Phase 2b clinical trial for Ameluz, a treatment for moderate to severe acne vulgaris. The trial involved the use of Ameluz in combination with the BF-RhodoLED lamp, applying treatments monthly for up to three sessions. This study was conducted as a multicenter, randomized, double-blind trial. These recent developments highlight significant progress in both Biofrontera’s financial performance and its clinical research efforts.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.