Biofrontera Inc (NASDAQ:BFRI) shares are trading significantly higher Wednesday after the company announced it received U.S. Food and Drug Administration approval for its cGMP laboratory in Germany.
The FDA has approved Biofrontera's German laboratory as a contract lab for batch control and stability testing of Ameluz. This recognition enables significant improvements in product manufacturing efficiency, quality control and reliability of supply.
The clearance will allow part of the necessary testing of production batches to be performed in the company's Germany-based facility, thereby reducing dependence on third-party suppliers and the risk of production downtime and product delays.
Biofrontera is a U.S.-based biopharmaceutical company commercializing a portfolio of pharmaceutical products for the treatment of dermatological conditions.
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BFRI 52-Week Range: $2.20 - $14.63
According to data from Benzinga Pro, the stock was up 42.3% at $5.27 at time of publication.
Photo: chezbeate from Pixabay.
