BFRI Stock — Biofrontera Inc.: Cash, EV, Pipeline

Share price

$1.32

Market cap

$19.6M

Cash

$4.7M

Enterprise value

$14.9M

Balance sheet

Cash	$4.7M
Debt	$0.0M
Net cash	$4.7M
Enterprise value	$14.9M
Basic shares	14.2M shares
Fully diluted shares	62.2M shares
Fully diluted market cap	$82.0M
Cash per share	$0.33

Cash figures as of 2026-06-30. Database snapshot: 2026-09-21.

Price history

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Pipeline assets

Ameluz (in combination with RhodoLED Lamps)

Approved · Active Modality: photodynamic therapy (PDT) drug-device

Partnerships Former Ameluz Licensor (Biofrontera Pharma GmbH) Second A&R Ameluz LSA terminated; earnout replaces the prior transfer pricing model (25% of net revenue replaced by direct cost plus 12-15% earnout)

Indications

Actinic keratosis (AK) (Approved)
Superficial basal cell carcinoma (sBCC) (Stage not disclosed)
Moderate to severe acne (Phase 2)

Catalysts

— Q3 2026
— 2027

Status note Principal commercial product; prescription drug approved in the U.S. in October 2016 for PDT use with RhodoLED Lamps. sBCC sNDA submitted to FDA in Q4 2025. Moderate-to-severe acne Phase 2 completed (last patient out of treatment Q3 2025; data obtained Q1 2026) and the trial is being wound down, but the filing states no discontinuation of the acne program. FDA approved sNDAs increasing the maximally approved dosage from one to three tubes and a new propylene-glycol-free formulation.

Per-asset detail extracted from the 10-Q filed 2026-08-13. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	Photodynamic therapy (PDT) (ALA-PDT, Ameluz®-PDT)
Lead indication	Superficial Basal Cell Carcinoma
Lead phase	Phase 3
Active trials	1

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT03573401	Phase 3	Active, not recruiting	Sponsor	BFRI	—	Superficial Basal Cell Carcinoma	—

Sponsor-matched active trials from ClinicalTrials.gov (1 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 1 active trials for Biofrontera Inc. on ClinicalTrials.gov

No specialist-fund holders in 13F data for this company.

BFRI — Biofrontera Inc.

Balance sheet

Price history

Pipeline assets

Pipeline

Active clinical trials