Investing.com — Biofrontera AG ADR (NASDAQ:BFRA) shares rose 37% Thursday after the company said the United States Patent and Trademark Office (USPTO) has issued a notice of allowance for its pain-reducing illumination therapy.
The notice is for the U.S. patent application titled “Illumination for Photodynamic Therapy,” that Biofrontera says covers an ” innovative, pain-reducing illumination protocol for photodynamic therapy (PDT).”
Photodynamic therapy is a treatment process that combines a drug and light to kill abnormal cells.
Biofrontera CEO Erica Monaco said the patent “strengthens Biofrontera’s competitiveness” for an FDA-approved combination product and provides “an opportunity to pursue label expansion to include more patient-friendly protocols.”
The company’s shares hit a high of $6.58 earlier in the session but now trade around $5.96.