Biofrontera (NASDAQ:BFRI) stock is getting a boost on Thursday thanks to an update from the United States Patent and Trademark Office (USPTO).
According to a news release, the USPTO has granted Biofrontera approval for its “Illumination for Photodynamic Therapy” patent. This patent covers “pain-reducing illumination protocol for photodynamic therapy (PDT).”
Biofrontera notes that its patent has to do with combing patterns of varying illumination intensities with Ameluz. The company believes this could become “a new standard-of-care in PDT.”
Hermann Lübbert, CEO of Biofrontera, said the following in the press release sending BFRI stock higher today.
“This patented illumination protocol is an important part of Biofrontera’s patent strategy to further protect our FDA-approved combination product, Ameluz® together with our PDT-lamp BF-RhodoLED® and its successor model RhodoLED® XL in the USA. Patent protection on either part of the FDA-combination approval increases our competitive advantage and is likely to hinder generic competition in the US market.”
Biofrontera also announced a couple of other pieces of news worth noting today. One is the departure timing of its CEO. The other is the closing of a $15 million private placement.
BFRI stock is seeing heavy trading today alongside its patent news. As of this writing, more than 51 million shares of the stock have changed hands. That’s a massive leap over the company’s daily average trading volume of about 19.6 million shares.
BFRI stock is up 37% as of Thursday afternoon.
Investors looking for more stock market news today don’t need to go anywhere.
We’ve got all the latest stock happenings that traders need to know about for Thursday. Among that is the news moving shares of Aurinia Pharma (NASDAQ:AUPH), Square (NYSE:SQ), and C3.ai (NYSE:AI) today. You can learn all about that by checking out the links below!
More Thursday Stock Market News
- AUPH Stock: The Novartis Takeover Talk That Has Aurinia Pharma Shares Taking Off Today
- SQ Stock Alert: Square Afterpay Merger Announcement Sends Shares Lower
- AI Stock Alert: 5 Reasons Why C3.ai Shares Are Plunging Today
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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