Biofrontera Announces Key Agreements and $8M Funding Boost

Biofrontera (BFRI) has released an update.

Biofrontera Inc. has announced significant corporate developments, including a revised agreement to alter transfer pricing and responsibilities for ongoing clinical trials. Additionally, they secured $8 million in funding through a private placement with institutional investors, issuing new Series B-1 and Series B-3 Convertible Preferred Stocks along with warrants. This financial move aims to support the company’s operations and the advancement of their lead product, while also agreeing to add directors from Rosalind Advisors to their board. The private placement is expected to close with customary conditions, further bolstering Biofrontera’s strategic growth.

For further insights into BFRI stock, check out TipRanks’ Stock Analysis page.