Biofrontera AG (BFRA) to Raise $18 Million in IPO

Biofrontera AG (BFRA) is planning to raise $18 million in an IPO on Wednesday, February 14th, IPO Scoop reports. The company plans to issue 1,500,000 shares at $11.00-$13.00 per share.

In the last twelve months, Biofrontera AG generated $12.3 million in revenue and had a net loss of $19.3 million.

Benchmark served as the underwriter for the IPO and Dawson James Securities and Lake Street Capital Markets were co-managers.

Biofrontera AG provided the following description of their company for its IPO: “(Note: Public offering “Our ordinary shares are listed on the Frankfurt Stock Exchange under the symbol “B8F” since 2012. On February 2, 2018, the closing price of our ordinary shares on the Frankfurt Stock Exchange was €6.21 ($7.70, based upon the noon buying rate of the Federal Reserve Bank of New York for the euro on January 26, 2018, which was €1.00 to $1.24.) We are an international biopharmaceutical company specializing in the development and commercialization of a platform of pharmaceutical products for the treatment of dermatological conditions and diseases caused primarily by exposure to sunlight that results in sun damage to the skin. Our approved products focus on the treatment of actinic keratoses, which are skin lesions that can sometimes lead to skin cancer, as well as the treatment of basal cell carcinoma in the EU. “.

Biofrontera AG was founded in 1997 and has 125 employees. The company is located at Hemmelrather Weg 201, D-51377 Leverkusen Germany and can be reached via phone at 011 49 214 876 00 or on the web at http://www.biofrontera.com.

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