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Biofrontera Stock Rallies On U.S. Patent for Illumination Therapy

Published 03/12/2021, 04:48 am
Updated 03/12/2021, 04:48 am
© Reuters.

© Reuters.

By Sam Boughedda

Investing.com — Biofrontera AG ADR (NASDAQ:BFRA) shares rose 37% Thursday after the company said the United States Patent and Trademark Office (USPTO) has issued a notice of allowance for its pain-reducing illumination therapy.

The notice is for the U.S. patent application titled "Illumination for Photodynamic Therapy," that Biofrontera says covers an " innovative, pain-reducing illumination protocol for photodynamic therapy (PDT)."

Photodynamic therapy is a treatment process that combines a drug and light to kill abnormal cells.

Biofrontera CEO Erica Monaco said the patent "strengthens Biofrontera's competitiveness" for an FDA-approved combination product and provides "an opportunity to pursue label expansion to include more patient-friendly protocols." 

The company's shares hit a high of $6.58 earlier in the session but now trade around $5.96.

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