Lake Street is pleased to announce that it served as lead book-running manager for Biofrontera AG (Nasdaq: BFRA) in its public offering of 3,214,250 American Depository Shares at a public offer price of $6.68 per ADS for gross proceeds of approximately $8.9 million. The Company intends to use the net proceeds of this offering to conduct clinical studies aimed at improving the market positioning of Biofrontera’s lead product Ameluz®, in particular to seek FDA or other applicable regulatory approval for the extension of the indications in the United States to basal cell carcinoma, acne and actinic keratoses on body areas other than the face and scalp, as well as to complete the development of a larger BF-RhodoLED® lamp, invest in the procurement of the necessary materials for it and to seek any FDA or other regulatory approvals required to launch the new lamp, as well as for general corporate purposes.
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