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Bullish Case: BFRI's strategic partnerships, recent funding secured, and restructuring efforts indicate potential for operational efficiency and expansion in dermatologic market, posit for upside as the company progresses towards profitability.


Bearish Case: Despite recent funding, BFRI's short cash runway and past negative free cash flow may lead to future dilution, with a high risk for continued downward pressure on its stock price.


Potential Outcomes:

1) FDA approval of Ameluz for new indications (40% probability);

2) Excessive cash burn leading to financial distress (35% probability);

3) Successful capital raise with dilution (25% probability).


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March 28, 2024


Biofrontera Forecast

BFRI        Biofrontera
Price Forecast: BULLISH    Price Action: MEAN REVERTING (?)






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