Stock Groups

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

by Mike Robinson

[ad_1]

© Reuters.

Sam Boughedda

Investing.com — Biofrontera AG ADR (NASDAQ:) 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.

This notice refers to the U.S. Patent Application titled “Illumination for Photodynamic Treatment.” Biofrontera claims that it covers an “innovative, pain-reducing lighting protocol for photodynamic treatment (PDT).

Photodynamic therapy is an alternative treatment that uses light and drugs to destroy abnormal cells.

Erica Monaco, CEO of Biofrontera, stated that the patent “enhances Biofrontera’s competitiveness” in a FDA-approved mixture product. She also said it offers “an opportunity for label expansion to incorporate more patient-friendly protocols.” 

The shares traded at around $5.96 after they reached $6.58 during the earlier session.

Disclaimer: Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs include stocks, indexes and futures. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media does not accept any liability for trade losses you may incur due to the use of these data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.

[ad_2]