Biofrontera (BFRI) is the publicly traded subsidiary of German biopharmaceutical company Biofrontera AG that specializes in dermatology products. The company went public through a traditional IPO on Oct. 29, but its shares have been losing momentum since. So, will BFRI be able to leverage its unique product portfolio to boost its growth trajectory amid the current public health crisis? Read more to find out. Woburn, Mass.-based Biofrontera Inc. (BFRI) is a biopharmaceutical company that develops and sells dermatological products in the United States. It is the U.S. subsidiary of German biopharmaceutical company Biofrontera AG.
BFRI recently made its stock market debut through an initial public offering of 3.60 million units, each comprising one common stock and one stock warrant, at $5 per unit, raising $18 million in gross proceeds.
The stock began trading on the Nasdaq Stock Exchange on October 29. Shares of BFRI opened at $4.09 on its first trading day, 18.2% below its initial price target. The stock has since declined 1.8% in price.