Biofrontera Inc. (NASDAQ: BFRI) is a biopharmaceutical company that dabbles in the dermatology domain. The company specializes in the revolutionary and innovative area of photodynamic therapy. It enjoys strong sales given the popularity of its product, Ameluz, which is a prescription drug, used alongside the company’s RhodoLED lamp series. This star has a tremendous growth runway before it.
Recent Biofrontera Milestones and Achievements
Biofrontera Inc. (BFRI) had its IPO this year and has been on a roll ever since, achieving critical milestones in its short history. The company follows a data-driven sales strategy which is proving to be highly successful and gathering the company recognition from industrial giants. Biofrontera Inc. was listed, earlier during the year, by CIOCoverage Magazine as one of the most promising and high-growth life science companies to keep watch for in 2022. To add to shareholder’s delight, the company is continuously making new strides in photodynamic therapy, which could potentially position Biofrontera as a market-leading brand in dermatology.
BFRI Strength in the Market
In addition to recognition and milestones, BFRI has been taking the market by storm with its stellar performance. Its annual revenue figure of $24.1 million for 2021, is likely to grow to nearly $32 million by the end of this year, and as high as $45 million by next year. This is due to improving brand recognition for the Ameluz treatment, as well as tactical execution and sales momentum. The company is also strengthening its brand by simultaneously working on the protection of its intellectual property through patents, as well as educating the market on photodynamic treatment.
BFRI stock has excellent promise as well as all the substance to back up its ambitions. The industry recognizes it as an emerging champion owing to a reputation it has established through positive performance.