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Biofrontera ( (DE:B8FK) ) has issued an update.
Biofrontera AG has entered into a binding agreement with Biofrontera Inc. to ensure the continuity of its U.S. operations. The agreement involves transferring all U.S. assets and liabilities related to Ameluz® to Biofrontera Inc., in exchange for a 10% equity stake and royalties on U.S. sales. This strategic move is expected to reduce Biofrontera AG’s operating expenses by offloading U.S.-related infrastructure and legal costs, despite a potential decrease in income due to changes in royalty structure.
More about Biofrontera
Biofrontera AG operates in the biotechnology industry, focusing on the commercialization of dermatological products. Its primary product, Ameluz®, is a photodynamic therapy used in dermatology, with a significant market focus in the United States.
YTD Price Performance: 6.05%
Average Trading Volume: 1,603
Technical Sentiment Signal: Strong Sell
Current Market Cap: €13.86M
See more data about B8FK stock on TipRanks’ Stock Analysis page.