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Wednesday, May 25, 2022

Biofrontera Inc. (BFRI) stock soaring today; here is why?

Biofrontera Inc. (BFRI) stock gained in the current market after announcing the FDA approval for its contract lab. BFRI stock values at $4.88, gaining more than 31.89% from the previous close. BFRI stock closed at $3.70 at the end of the last trading session with a trading volume of around 2.14 million shares.


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Global Dermatology Drugs Industry Overview

Biofrontera Inc. (BFRI) is a dermatological company that operates in the United States. It is primarily concerned with treating disorders using photodynamic therapy (PDT) and topical antibiotics.

Aspects of the worldwide dermatology sector include selling pharmaceuticals to treat disorders such as dermatitis, rosacea, hyperhidrosis, acne medications, androgenic alopecia, microbial infections, and other skin types ailments. Dermatitis, psoriasis, acne medicines, and other pharmaceuticals are among the dermatological market sectors worldwide.

According to the latest data, the global dermatological pharmaceuticals market size is estimated to be over $49.5 billion in 2020. By 2022, it is predicted to have grown to $54.5 billion, with a compound annual growth rate of 10.1 percent from 2012. According to the forecasts, it is expected to reach around $76.12 billion by 2026, representing a compound annual growth rate of 8.7%.

BFRI: FDA Approved Biofrontera Contract Lab for Ameluz

The FDA has certified Biofrontera Pharma’s cGMP facility in Leverkusen, Germany, as a contract laboratory for Ameluz batch control and stability testing. This identification improves product production efficiency, quality control, and supply dependability.

The FDA approved Biofrontera Pharma GmbH’s impurity testing procedure to ensure the gel’s stability. That reduces reliance on third-party suppliers and the danger of manufacturing delays and downtime due to product testing in Leverkusen, Germany. The previous system relied on third-party vendors for quality control.

Conclusion

The approval for its contract lab for Ameluz is welcoming, and investors are investing in its stock, resulting in a massive surge in its stock. The approval by FDA shows that the company is going in the right direction with trials, and investors are expecting some good results in the future.

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