16th Feb 2016 14:14
LONDON (Alliance News) - Biofrontera AG said Tuesday that it has raised EUR4.4 million in a placing of 4.48 billion shares at EUR1.90, which it will use to cover its operating expenses and further develop marketing for its key product Ameluz.
Shares in Biofrontera were down 7.1% at EUR1.90 Tuesday afternoon.
Ameluz is currently approved for the treatment of actinic keratosis in the EU.
Biofrontera plans to put the EUR4.4 million into supporting the product's regulatory approval and commercialisation in the US, as well as extending its approval in the EU to include the treatment of basal cell carcinoma.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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