Biofrontera (BFRI) 10-Q 15 May 24 2024 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2024	May 15, 2024
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2024
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Entity File Number	001-40943
Entity Registrant Name	Biofrontera Inc.
Entity Central Index Key	0001858685
Entity Tax Identification Number	47-3765675
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	120 Presidential Way
Entity Address, Address Line Two	Suite 330
Entity Address, City or Town	Woburn
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01801
City Area Code	(781)
Local Phone Number	245-1325
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		5,089,413
Entity Information, Former Legal or Registered Name	Not Applicable
Common stock, par value $0.001 per share [Member]
Title of 12(b) Security	Common stock, par value $0.001 per share
Trading Symbol	BFRI
Security Exchange Name	NASDAQ
Warrants to purchase common stock [Member]
Title of 12(b) Security	Warrants to purchase common stock
Trading Symbol	BFRIW
Security Exchange Name	NASDAQ

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 3,817	$ 1,343
Accounts receivable, net	3,520	5,162
Inventories, net	6,905	10,908
Prepaid expenses and other current assets	560	425
Total current assets	20,155	23,075
Property and equipment, net	120	134
Operating lease right-of-use assets	1,416	1,612
Intangible asset, net	2,556	2,629
Other assets	328	482
Total assets	24,575	27,932
Current liabilities:
Operating lease liabilities	690	691
Accrued expenses and other current liabilities	4,230	4,487
Short term debt	2,355	3,904
Total current liabilities	14,036	18,088
Long-term liabilities:
Warrant liabilities	11,731	4,210
Operating lease liabilities, non-current	621	804
Other liabilities	33	37
Total liabilities	26,421	23,139
Commitments and contingencies (Note 17)
Stockholders’ equity:
Preferred Stock, $0.001 par value, 19,978,828 shares authorized, zero shares issued and outstanding as of March 31, 2024 and December 31, 2023
Common Stock, $0.001 par value, 15,000,000 shares authorized; 5,089,413 and 1,517,628 shares issued and outstanding as of March 31, 2024 and December 31, 2023	5	2
Additional paid-in capital	104,666	104,441
Accumulated deficit	(110,087)	(99,650)
Total stockholders’ equity	(5,416)	4,793
Total liabilities, mezzanine equity and stockholders’ equity	24,575	27,932
Series B1 Preferred Stock [Member]
Mezzanine equity:
Series B-1 Convertible Preferred Stock, $0.001 par value, 6,586 share authorized, 4,806 and zero shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively	3,570
Related Party [Member]
Current assets:
Investment, related party	23	78
Other receivables, related party	171
Other assets, related party	5,159	5,159
Current liabilities:
Accounts payable, related parties	4,044	5,698
Nonrelated Party [Member]
Current liabilities:
Accounts payable, related parties	$ 2,717	$ 3,308

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2024	Dec. 31, 2023
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	19,978,828	19,978,828
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	15,000,000	15,000,000
Common stock, shares issued	5,089,413	1,517,628
Common stock, shares outstanding	5,089,413	1,517,628
Series B1 Preferred Stock [Member]
Convertible preferred stock par value	$ 0.001	$ 0.001
Convertible preferred authorized	6,586	6,586
Convertible preferred stock issued	4,806	0
Convertible preferred stock outstanding	4,806	0
Series B2 Preferred Stock [Member]
Convertible preferred stock par value	$ 0.001	$ 0.001
Convertible preferred authorized	6,586	6,586
Convertible preferred stock issued	0	0
Convertible preferred stock outstanding	0	0
Series B3 Preferred Stock [Member]
Convertible preferred stock par value	$ 0.001	$ 0.001
Convertible preferred authorized	8,000	8,000
Convertible preferred stock issued	0	0
Convertible preferred stock outstanding	0	0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Defined Benefit Plan Disclosure [Line Items]
Products revenues, net	$ 7,901	$ 8,715
Revenues, related party	11	18
Total revenues, net	7,912	8,733
Operating expenses
Selling, general and administrative, related party	(4)	27
Research and development	17
Change in fair value of contingent consideration		(200)
Total operating expenses	13,379	14,225
Loss from operations	(5,467)	(5,492)
Other income (expense)
Change in fair value of warrant liabilities	(3,429)	1,028
Change in fair value of investment, related party	3	(2,941)
Loss on debt extinguishment	(316)
Interest expense, net	(1,407)	(35)
Other income (expense), net	180	(33)
Total other income (expense)	(4,969)	(1,981)
Loss before income taxes	(10,436)	(7,473)
Income tax expense	1	5
Net loss	(10,437)	(7,478)
Related Party [Member]
Operating expenses
Cost of revenues	3,946	4,547
Nonrelated Party [Member]
Operating expenses
Cost of revenues	170	51
Selling, general and administrative	$ 9,250	$ 9,800

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Loss per common share, basic	$ (2.88)	$ (5.60)
Loss per common share, diluted	$ (2.88)	$ (5.60)
Weighted average common shares outstanding, basic	3,623,593	1,334,950
Weighted average common shares outstanding, diluted	3,623,593	1,334,950

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Mezzanine and Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Preferred Stock [Member] Series B1 Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance at Dec. 31, 2022		$ 1	$ 103,396	$ (79,519)	$ 23,878
Balance, shares at Dec. 31, 2022		1,334,950
Stock based compensation			351		351
Net loss				(7,478)	(7,478)
Balance at Mar. 31, 2023		$ 1	103,747	(86,997)	16,751
Balance, shares at Mar. 31, 2023		1,334,950
Balance at Dec. 31, 2023		$ 2	104,441	(99,650)	4,793
Balance, shares at Dec. 31, 2023		1,517,628
Issuance of Series B Preferred Stock and Warrants	$ 3,570
Exercise of pre-funded warrants		$ 1	(1)
Exercise of pre-funded warrants, shares		1,055,000
Issuance of series b preferred stock and warrants	6,586
Conversion of Series B-1 Preferred into common stock		$ 2	(2)
Conversion of Series B-1 Preferred into common stock, shares	(1,780)	2,516,785
Stock based compensation			228		228
Net loss				(10,437)	(10,437)
Balance at Mar. 31, 2024	$ 3,570	$ 5	$ 104,666	$ (110,087)	$ (5,416)
Balance, shares at Mar. 31, 2024	4,806,000	5,089,413

Condensed Consolidated Statem_4

Condensed Consolidated Statements Of Cash Flows - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities:
Net income (loss)	$ (10,437,000)	$ (7,478,000)
Adjustments to reconcile net income (loss) to cash flows used in operations:
Depreciation	21,000	22,000
Amortization of right-of-use assets	179,000	139,000
Amortization of acquired intangible assets	107,000	105,000
Realized/unrealized (gain)/ loss in investment, related party	(3,000)	2,941,000
Change in fair value of contingent consideration		(200,000)
Change in fair value of warrant liabilities	3,429,000	(1,028,000)
Stock-based compensation	228,000	351,000
Allowance for credit losses	66,000	14,000
Loss on debt extinguishment	316,000
Non-cash interest expense	151,000	89,000
Changes in operating assets and liabilities:
Accounts receivable	1,576,000	(381,000)
Other receivables, related party	(165,000)	2,720,000
Prepaid expenses and other assets	(119,000)	(830,000)
Inventories	4,003,000	499,000
Accounts payable and related party payables	(2,250,000)	(792,000)
Operating lease liabilities	(166,000)	(134,000)
Accrued expenses and other liabilities	(261,000)	274,000
Cash flows used in operating activities	(3,325,000)	(3,689,000)
Cash flows from investing activities
Sales of equity investment, related party	57,000
Purchases of property and equipment	(57,000)	(14,000)
Cash flows provided by (used) in investing activities		(14,000)
Cash flows from financing activities
Proceeds from issuance of series B-1 preferred stock and warrants to purchase series B-3 preferred stock in a private placement, net of issuance costs	7,662,000
Payment of principal short-term debt	(1,506,000)
Payments to extinguish line of credit	(357,000)
Cash flows provided by financing activities	5,799,000
Net increase (decrease) in cash and cash equivalents	2,474,000	(3,703,000)
Cash, cash equivalents and restricted cash, at the beginning of the period	1,543,000	17,408,000
Cash, cash equivalents and restricted cash, at the end of the period	4,017,000	13,705,000
Supplemental disclosure of cash flow information
Interest paid	1,173,000
Income taxes paid, net		$ 22,000

Organization and Business Overv

Organization and Business Overview	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Business Overview	1. Organization and Business Overview Biofrontera Inc., a Delaware Corporation (the “Company” or “Biofrontera”), is a U.S.-based biopharmaceutical company commercializing a portfolio of pharmaceutical products for the treatment of dermatological conditions with a focus on photodynamic therapy (“PDT”) and topical antibiotics. The Company’s licensed products are used for the treatment of actinic keratoses, which are pre-cancerous skin lesions as well as impetigo, a bacterial skin infection. The Company includes its wholly owned subsidiary Bio-FRI GmbH (“Bio-FRI”), a limited liability company organized under the laws of Germany, formed on February 9, 2022, as a German presence to facilitate our relationship with Biofrontera Pharma GmbH (“Biofrontera Pharma”) and Biofrontera Bioscience GmbH (“Biofrontera Bioscience,” and, together with Biofrontera Pharma, the “Ameluz Licensor”), both of which are related parties as they are wholly owned subsidiaries of Biofrontera AG, a company holding more than five percent of the Company’s common stock. Our principal licensed product is Ameluz ® ® ® ® Our second prescription drug licensed product is Xepi® (ozenoxacin cream, 1%), a topical non-fluorinated quinolone that inhibits bacterial growth. Currently, no antibiotic resistance against Xepi® is known and it has been specifically approved by the FDA for the treatment of impetigo, a common skin infection, due to Staphylococcus aureus or Streptococcus pyogenes. It is approved for use in the United States in adults and children 2 months and older. Our exclusive license and supply agreement, as amended (“Xepi LSA”) with Ferrer Internacional S.A. (“Ferrer”), assumed by the Company on March 25, 2019 through our acquisition of Cutanea Life Sciences, Inc. (“Cutanea”), enables the Company to market and sell this product in the United States. The Company has generated limited revenue from sales of Xepi during the current reporting periods and recent developments with the third-party manufacturer that was providing our supply of Xepi® have resulted in further delays of our commercialization of the product. However, Ferrer is in the process of qualifying a new contract manufacturer. Once Cambrex is qualified, we expect the supply of Xepi® will meet the future market demand. Liquidity and Going Concern Since we commenced operations in 2015, we have generated significant losses. We incurred net cash outflows from operations of $ 3.3 3.7 110.1 7.3 Note 13. Mezzanine Equity and Stockholders’ Equity 3.8 1.3 Pursuant to the requirements of the Financial Accounting Standards Board’s (the “FASB”) Accounting Standards Codification (“ASC”) Topic 205-40, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern, management must evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern for one year from the date the consolidated financial statements included in this Form 10-Q are issued. This evaluation does not take into consideration the potential mitigating effect of management’s plans that have not been fully implemented or are not within control of the Company as of the date the financial statements are issued. When substantial doubt exists under this methodology, management evaluates whether the mitigating effect of its plans sufficiently alleviates substantial doubt about the Company’s ability to continue as a going concern. The mitigating effect of management’s plans, however, is only considered if both (1) it is probable that the plans will be effectively implemented within one year after the date that the financial statement are issued, and (2) it is probable that the plans, when implemented, will mitigate the relevant conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern within one year after the date that the consolidated financial statements are issued. In an effort to alleviate these conditions, management’s plans include adhering to the 2024 budget approved by the Board of Directors (the “Board”), which includes significant sales and marketing, medical affairs, and dermatology community outreach efforts as we seek to expand the commercialization of Ameluz® in the United States while decreasing discretionary expenses by approximately $ 5.5 On February 19, 2024, the Company entered into the Second Amended and Restated License and Supply Agreement (“Second A&R Ameluz LSA”) with the Ameluz Licensor, effective as of February 13, 2024. The terms of the Second A&R Ameluz LSA is expected to significantly reduce our cost of inventory in the future. The Company will begin to see gross margins of its primary product, Ameluz®, of approximately 75% as opposed to the prior 50% beginning with inventory purchases after the execution date. This will reduce our cash needs for inventory which will be partially offset by increased R&D costs, resulting in expected net savings of $ 1.5 In addition, on February 19, 2024, the Company entered into securities purchase agreements (collectively, the “Preferred Purchase Agreement”) with healthcare-focused institutional investors resulting in net proceeds of $ 7.3 8,000 1,000 7.4 Note 13. Mezzanine Equity and Stockholder’s Equity . Based on management’s plans described above, combined with the impact of the Second A&R Ameluz LSA and Preferred Purchase Agreement, the Company’s management believes that the Company will have sufficient liquidity and probable financing to meet its funding requirements for at least one year from the date the financial statements in this Form 10-Q are issued. However, this will depend on several factors, including executing on its sales plan within the time period needed and controlling our operating costs, as well as other possible challenges and unforeseen circumstances. A lack of execution or unforeseen circumstances may require the Company to raise additional capital or debt which may not be available on acceptable terms, or at all which could result in a material adverse effect on the Company, as well as its business, financial condition, results of operations, growth prospects and financial statements. The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the ordinary course of business. The financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might result from the outcome of the uncertainties described above.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis for Preparation of the Financial Statements The accompanying unaudited interim condensed consolidated financial statements of the Company have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial reporting. Certain information and footnote disclosures normally included in the annual financial statements prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) have been condensed or omitted pursuant to such rules and regulations. In the Company’s opinion, the unaudited condensed consolidated financial statements include all material adjustments, all of which are of a normal and recurring nature, necessary to present fairly the Company’s financial position as of March 31, 2024, the Company’s operating results for the three months ended March 31, 2024 and 2023, and the Company’s cash flows for the three months ended March 31, 2024 and 2023. The accompanying financial information as of December 31, 2023 is derived from audited financial statements. Interim results are not necessarily indicative of results for a full year. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on March 15, 2024. All amounts shown in these financial statements and tables are in thousands and amounts in the notes are in millions, except percentages and per share and share amounts. Reverse Stock Split On July 3, 2023, the Company effected a 1-for-20 0.001 All information included in these consolidated financial statements has been adjusted, on a retrospective basis, to reflect the Reverse Stock Split as if it had been effective from the beginning of the earliest period presented, unless otherwise stated. All outstanding securities entitling their holders to purchase shares of Common Stock or acquire shares of Common Stock, including stock options, restricted stock units, and warrants, were adjusted as a result of the Reverse Stock Split, as required by the terms of those securities. With the exception of the accounting policies below, there have been no new or material changes to the significant accounting policies discussed in the Company’s Form 10-K for the year ended December 31, 2023. Mezzanine equity Where ordinary or preferred shares are determined to be conditionally redeemable upon the occurrence of certain events that are not solely within the control of the issuer, and upon such event, the shares would become redeemable at the option of the holders, they are classified as ‘mezzanine equity’ (temporary equity). The purpose of this classification is to convey that such a security may not be permanently part of equity and could result in a demand for cash, securities or other assets of the entity in the future. Use of Estimates The preparation of the financial statements in accordance with U.S. GAAP requires the use of estimates and assumptions by management that affect the reported amounts of assets and liabilities, as well as disclosure of contingent assets and liabilities, as reported on the balance sheet date, and the reported amounts of revenues and expenses arising during the reporting period. The main areas in which assumptions, estimates and the exercising of judgment are appropriate relate to, valuation allowances for receivables and inventory, valuation of contingent consideration and warrant liabilities, realization of intangible and other long-lived assets, product sales allowances and reserves, share-based payments and income taxes including deferred tax assets and liabilities. Estimates are based on historical experience and other assumptions that are considered appropriate in the circumstances. They are continuously reviewed but may vary from the actual values. Recently Issued Accounting Pronouncements In August 2020, the FASB issued ASU 2020-06, Debt- Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity In November 2023, the FASB issued ASU 2023-07, Improvements to Reportable Segment Disclosures In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740) – Improvements to Income Tax Disclosures

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	3. Fair Value Measurements The following table presents information about the Company’s assets that are measured at fair value on a recurring basis at March 31, 2024 and December 31, 2023 and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value: Schedule of Fair Value Hierarchy Valuation Inputs (in thousands) Level March 31, 2024 December 31, 2023 Assets: Investment, related party 1 $ 23 $ 78 Liabilities: Warrant liability – 2022 Purchase Warrants 3 $ 162 $ 328 Warrant liability - 2022 Inducement Warrants 3 $ 204 $ 412 Warrant liability – 2023 Purchase Warrants 3 $ 1,717 $ 3,470 Warrant liability - 2024 Preferred Warrants 3 $ 9,648 $ - Warrant liability 3 $ 9,648 $ - Total Liabilities $ 11,731 $ 4,210 Investment, related party A s of March 31, 2024 and December 31, 2023, the Company held as an investment, 63,415 177,465 a company who holds a greater than five percent of our Common Stock Note 12. Related Party Transactions. Warrant Liabilities The warrant liabilities are comprised of (i) outstanding warrants to purchase 170,950 shares of Common Stock originally issued in a private placement on May 16, 2022, as amended on November 2, 2023 to extend the expiration date until November 2, 2028 and revise the exercise price to $ 3.55 , 214,286 shares of Common Stock issued on July 26, 2022, as amended on November 2, 2023 to extend the expiration date until November 2, 2028 and revise the exercise price to $ 3.55 , 1,807,500 five years 3.55 8,000 0.001 The 2022 Purchase Warrants, the 2022 Inducement Warrants and the 2023 Purchase Warrants were accounted for as liabilities as these warrants provide for a redemption right in the case of a fundamental transaction which fails the requirement of the indexation guidance under ASC 815-40. The 2024 Preferred Warrants are also accounted for as liabilities as they are redeemable in the event of a change in control, which is not solely within the control of the Company. The resulting warrant liabilities are re-measured at each balance sheet date until their exercise or expiration, and any change in fair value is recognized in the Company’s consolidated statement of operations. The warrant liabilities are measured at fair value at inception and on a recurring basis, with changes in fair value presented within the consolidated statement of operations. The fair value for the Level 3 2024 Preferred Warrants was estimated utilizing a probability weighted average approach, which incorporated two scenarios. In scenario one, the warrant value was based on the underlying value of the convertible preferred stock, using an option-pricing model backsolve that solved for the value of our publicly traded equity on the valuation date to obtain the valuation date fair value of the Series B-3 Convertible Preferred Stock, then applied the Series B-3 Convertible Preferred Stock value into the Black-Scholes-Merton (“BSM”) model equation to determine the value of the Series B-3 convertible warrants. In scenario two, the warrant value is based on the underlying value of the publicly traded common equity value. scenario two assumes the preferred stock will be converted into Common Stock prior to a liquidity event. A simple BSM model was utilized to value the warrant under scenario two, using the closing price of our Common Stock. The BSM model used the following inputs and assumptions (i) expected stock price volatility of 79.3% to 105%; (ii) risk-free interest rate of 5.39%; to 5.41% (iii) expected life of the warrants of .21 to .11 years and (iv) dividend yield of 0.0%. The fair value for the Level 3 2022 Purchase Warrants, 2022 Inducement Warrants and the 2023 Purchase Warrants was estimated using a BSM model. Certain inputs utilized in our BSM model may fluctuate in future periods based upon factors which are outside of the Company’s control. A significant change in one or more of these inputs used in the calculation of the fair value may cause a significant change to the fair value of our warrant liabilities which could also result in material non-cash gain or loss being reported in our consolidated statement of operations. The fair value of these warrants was determined using the BSM option pricing model based on the following assumptions for the period indicated. March 31, 2024 Stock price $ 1.54 Expiration term (in years) 4.59 Volatility 100 % Risk-free Rate 4.20 % Dividend yield 0 % The following table presents the changes in the Level 3 warrant liabilities measured at fair value (in thousands): Schedule of Changes in Fair Value Warrant Liabilities Three Months Ended March 31, 2024 2023 Fair value at beginning of period $ 4,210 $ 2,843 Issuance of new warrants 4,092 - Exercise of warrants - - Change in fair value of warrant liabilities 3,429 (1,028 ) Fair value at end of period $ 11,731 $ 1,815

Revenue

Revenue	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue	4. Revenue We generate revenue primarily through the sales of our licensed products Ameluz®, BF-RhodoLED® lamps and Xepi®. Revenue from the sales of our BF-RhodoLED® lamp and Xepi® are relatively insignificant compared with the revenues generated through our sales of Ameluz®. Related party revenue relates to an agreement with Biofrontera Bioscience for BF-RhodoLED® leasing and installation service. Refer to Note 12, Related Party Transactions An analysis of the changes in product revenue allowances and reserves is summarized as follows: Schedule of Revenue Allowance and Accrual Activities (in thousands): Returns Co-pay assistance program Prompt pay discounts Government and payor rebates Total Balance at December 31, 2022 $ 48 $ 9 $ 5 $ 20 $ 82 Provision related to current period sales 1 62 3 33 99 Credit or payments made during the period - (71 ) (2 ) (39 ) (112 ) Balance at March 31, 2023 $ 49 $ - $ 6 $ 14 $ 69 Balance at December 31, 2023 $ 52 $ - $ 6 $ 54 $ 112 Balance $ 52 $ - $ 6 $ 54 $ 112 Provision related to current period sales - - - 53 53 Credit or payments made during the period - - - (25 ) (25 ) Balance at March 31, 2024 $ 52 - 6 82 140 Balance $ 52 - 6 82 140

Investment, Related Party

Investment, Related Party	3 Months Ended
	Mar. 31, 2024
Investments, All Other Investments [Abstract]
Investment, Related Party	5. Investment, Related Party A s of March 31, 2024 and December 31, 2023, our investments in equity securities consisted solely of 63,415 177,465 Note 12. Related Party Transactions 0.1 Gain/(loss) on investment, related party, was comprised of the following: Schedule of Unrealized Gains and Losses on Investments in Equity Securities Three months ended March 31, (in thousands) 2024 2023 Net gain (loss) recognized during the period on equity securities $ 3 $ (2,941 ) Less: Net realized loss on equity securities sold (98 ) - Unrealized gain/(loss) recognized during the reporting period on equity securities still held at the reporting date $ 101 $ (2,941 )

Accounts Receivable, net

Accounts Receivable, net	3 Months Ended
	Mar. 31, 2024
Credit Loss [Abstract]
Accounts Receivable, net	6. Accounts Receivable, net Accounts receivables are mainly attributable to the sale of Ameluz ® In determining the reserve percentages for each pool of trade accounts receivables, we considered our historical experience with certain customers, regulatory and legal environments and other relevant current and future forecasted macroeconomic factors. If we become aware of any customer-specific factors that impact credit risk, specific allowances for these known troubled accounts are recorded. The allowance for credit losses was $ 0.3 0.2

Inventories

Inventories	3 Months Ended
	Mar. 31, 2024
Inventory Disclosure [Abstract]
Inventories	7. Inventories Inventories are comprised of Ameluz ® ® ® There was no provision for obsolescence recorded for the three months ended March 31, 2024 and 2023. As of December 31, 2023, in connection with the voluntary recall by the Ameluz Licensor, we recorded an inventory write-off of $ 5.2 million with a corresponding asset for the anticipated replacement from the licensor to other assets, related party, as the recalled lots of Ameluz products will be replaced by the Ameluz Licensor at no additional cost in accordance with the Ameluz LSA. See Note 12. Related Party Transactions

Intangible Asset, Net

Intangible Asset, Net	3 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Asset, Net	8. Intangible Asset, Net Intangible asset, net consists of the following: Schedule of Intangible Asset Net (in thousands) March 31, 2024 December 31, 2023 Capitalized software $ 49 $ 15 Xepi® license $ 4,600 $ 4,600 Less: Accumulated amortization (2,093 ) (1,986 ) Intangible asset, net $ 2,556 $ 2,629 The Xepi ® 4.6 11 0.1 The Company capitalizes the application development phase costs of internal use software in accordance with ASC 350-40, “ Intangibles-Goodwill and Other-Internal Use Software.”

Cash Balances and Statement of

Cash Balances and Statement of Cash Flows Reconciliation	3 Months Ended
	Mar. 31, 2024
Cash and Cash Equivalents [Abstract]
Cash Balances and Statement of Cash Flows Reconciliation	9. Cash Balances and Statement of Cash Flows Reconciliation The Company maintains its cash balances at financial institutions that are insured by the Federal Deposit Insurance Corporation (“FDIC”). At March 31, 2024, approximately $ 3.7 Restricted cash consists primarily of deposits of cash collateral held in accordance with the terms of our corporate credit cards. Long-term restricted cash was recorded in other assets in the consolidated balance sheet. The following table provides a reconciliation of cash, cash equivalents, and restricted cash that sum to the total shown in the statements of cash flows: Schedule of Reconciliation of Cash, Cash Equivalents, and Restricted Cash (in thousands) March 31, 2024 December 31, 2023 Cash and cash equivalents $ 3,817 $ 1,343 Long-term restricted cash 200 200 Total cash, cash equivalents, and restricted cash shown on the consolidated statements of cash flows $ 4,017 $ 1,543 Long-term restricted cash was recorded in other assets in the consolidated balance sheet.

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	3 Months Ended
	Mar. 31, 2024
Payables and Accruals [Abstract]
Accrued Expenses and Other Current Liabilities	10. Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consist of the following: Schedule of Accrued Expenses and Other Current Liabilities (in thousands) March 31, 2024 December 31, 2023 Legal settlement $ - $ 403 Employee compensation and benefits 2,968 2,185 Professional fees 530 1,064 Distribution and Storage 97 118 Product revenue allowances and reserves 176 149 Other 459 568 Total $ 4,230 $ 4,487

Debt

Debt	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Debt	11. Debt Line of Credit Effective as of January 4, 2024, we voluntarily terminated the Loan and Security Agreement with Midcap Business Credit LLC (the “Loan Agreement”), paying a total of approximately $ 0.4 million, consisting of (1) the outstanding principal of and interest balance due under the Loan Agreement, aggregating approximately $ 0.2 million, and (2) early termination fees of approximately $ 0.2 million. As a result of the termination of the Loan Agreement, the Company recognized a $ 0.3 Loan Facilities On December 21, 2023, we entered into credit facilities with two different lenders (the “Loans”), each pursuant to a Business Loan and Security Agreement providing for a term loan in the principal amount of $ 2,000,000 102,857 July 5, 2024 0.3 1.2 0.2 2.5 0.1 Each of the Loans is secured by a security interest in substantially all of the Company’s assets (the “Collateral”). The Company will pay interest in the aggregate amount of $ 880,000 44 5.0 Each of the Business Loan and Security Agreements includes limitations on the Company’s ability to sell, lease, transfer, or otherwise dispose of its assets outside the ordinary course of its business; or to create, incur, allow or suffer to exist any lien on any of its assets other than liens in favor of either lender and certain other permitted liens. Each of the Business Loan and Security Agreements also contains customary representations and warranties and customary events of default, upon the occurrence of which, after any applicable grace period, the applicable lender would have the ability to accelerate its loan and exercise remedies with respect to the Collateral. Interest expense is recognized using the effective interest method, such that a constant effective interest rate is applied to the carrying amount of the debt at the beginning of each period until maturity.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2024
Related Party Transactions [Abstract]
Related Party Transactions	12. Related Party Transactions License and Supply Agreement Under the Ameluz LSA, the Company obtained an exclusive, non-transferable license to use Biofrontera Pharma’s technology to market and sell the licensed products, Ameluz® and BF-RhodoLED® and must purchase the licensed products exclusively from Biofrontera Pharma. On February 19, 2024, we entered into (i) update the price we pay per unit (the “Transfer Price”) that covers the cost of goods, royalties on sales, and services, including all regulatory efforts, agency fees, pharmacovigilance, and patent administration, as follows: ● Twenty-five ● Thirty ● Thirty-two ● Thirty-five ● The Transfer Price for sales related to acne, another indication currently in development, will remain at 25 (ii) provide for the transfer of responsibilities for clinical trials relating to Ameluz ® Also, in connection with the Second A&R Ameluz LSA, the Company entered into a Release of Claims, with the Ameluz Licensor, dated February 13, 2024, pursuant to which the Company agreed to release the Ameluz Licensor from all claims and liabilities arising out of or relating to any failure by the Ameluz Licensor to perform certain obligations under the Second A&R Ameluz LSA with respect to clinical trials that the Company will assume responsibility for under the Second A&R Ameluz LSA. Purchases of the licensed products during the three months ended March 31, 2024 and 2023 were $ 0.3 million and $ 4.6 million, respectively. Amounts due and payable to Biofrontera Pharma as of March 31, 2024 and December 31, 2023 were $ 4.0 million and $ 8.5 million, respectively, which were recorded net in accounts payable or accounts receivable, related parties in the consolidated balance sheets. On February 9, 2024, Biofrontera was notified that the Ameluz Licensor had initiated a voluntary recall of a limited number of lots of Ameluz® due to a manufacturing defect in the impacted product’s packaging, which is provided by an unaffiliated supplier. In its communications, the Ameluz Licensor confirmed that the recalled product is not likely to cause adverse health consequences. Pursuant to the Ameluz LSA, the Company will not bear any financial responsibility for the costs associated with this recall. As such, the Company does not anticipate a material financial impact on its business as a result of the recall. As of December 31, 2023, in connection with the voluntary recall by the Ameluz Licensor, the Company recorded an inventory write-off of $ 5.2 Service Agreements In December 2021, we entered into an Amended and Restated Master Contract Services Agreement (the “Services Agreement”), which provides for the execution of statements of work, by and among the Company, Biofrontera AG, Biofrontera Pharma and Biofrontera Bioscience, primarily for regulatory support and pharmacovigilance. The Services Agreement enables us to continue relying on Biofrontera AG and its subsidiaries for various services it has historically provided to us for as long as we deem necessary. We currently have statements of work in place regarding pharmacovigilance, regulatory affairs, medical affairs, information technology, and investor relations services and are continuously assessing the other services historically provided to us by Biofrontera AG to determine (i) if they will be needed, and (ii) whether they can or should be obtained from other third-party providers. As of March 31, 2024, we have migrated away from Biofrontera AG to third party providers for most of our significant information technology services. Expenses related to the Services Agreement were negligible for the three months ended March 31, 2024 and 2023, which were recorded in selling, general and administrative, related party. Amounts due to Biofrontera AG related to the Services Agreement were $ 0.1 Clinical Lamp Lease Agreement On August 1, 2018, the Company executed a clinical lamp lease agreement with Biofrontera Bioscience to provide lamps and associated services. Total revenue related to the clinical lamp lease agreement was minimal for the three months ended March 31, 2024 and 2023, and was recorded as revenues, related party. Amounts due from Biofrontera Bioscience for clinical lamp and other reimbursements were approximately $ 0.2 Others The Company recorded a receivable of $ 2.8 50 he Company has a contractual right to repayment of its share of the settlement payments, plus interest and other miscellaneous settlement costs, from Biofrontera AG under the Settlement Allocation Agreement entered into on December 9, 2021 and as amended on March 31, 2022, which provides that the settlement payments would first be made by the Company and then reimbursed by Biofrontera AG for its share. no 2.8 As of March 31, 2024, our investment, related party was valued at a negligible amount and consisted of 63,415 0.1 177,465 Note 5. Investment, Related Party.

Mezzanine Equity and Stockholde

Mezzanine Equity and Stockholders’ Equity	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Mezzanine Equity and Stockholders’ Equity	13. Mezzanine Equity and Stockholders’ Equity Under the Company’s Certificate of Amendment to the Amended and Restated Certificate of incorporation, effective July 3, 2023, the Company is authorized to issue 15,000,000 shares of Common Stock and 20,000,000 shares of preferred stock, par value $ .001 per share. Note 18. Subsequent Events 15,000,000 35,000,000 On February 19, 2024, the Company entered into the Preferred Purchase Agreement, pursuant to which the Company agreed to issue and sell, in a private placement (the “Offering”), (i) 6,586 0.001 8,000 0.001 8.0 1,000 0.125 11,309,019 0.7074 1,413.6 7.3 The aggregate exercise price of the Preferred Warrants is approximately $ 8.0 8,000 5 days following the date of completion of (A) the Company’s public announcement of (I) at least which announcement shall be made promptly after certification by the Company’s Board ; SEC Note 18. Subsequent Events- Preferred Warrants Expedited Expiration Date Subject to certain conditions, the shares of the Series B-1 Preferred Stock issued in the Offering are immediately convertible, and the Series B-3 Preferred Stock issuable upon exercise of the Preferred Warrants will not become convertible until the Company’s stockholders approve (i) an increase to the Company’s authorized share capital, and (ii) to the extent required under the Nasdaq listing rules: (a) the issuance of all Common Stock issuable upon conversion of the issued Series B-1 Preferred Stock and the Series B-3 Preferred Stock or (b) the Series B-3 Preferred Stock upon exercise of the Preferred Warrants (collectively, the “Stockholder Approval”). Pursuant to the Preferred Purchase Agreement and as soon as practicable following the date of the Stockholder Approval, the Company shall appoint two independent directors designated by Rosalind Advisors, Inc to the Company’s Board. On February 22, 2024, concurrent with the closing of the Offering, each purchaser delivered a notice of initial conversion requesting that the Company convert the Series B-1 Preferred Stock they had acquired in the Offering up to the number of shares equal to 9.99% of the outstanding Common Stock (the “Cap”) for each purchaser. As a result of this conversion, the Company issued 2,516,785 shares of the Company’s common stock to the purchasers, and as of February 22, 2024, the total number of the Company’s outstanding shares of common stock was 5,089,413 and the total number of the Company’s outstanding shares of Series B-1 Convertible Preferred Stock was 4,806 , with 6,793,893 shares of common stock issuable upon conversion of the Series B-1 Preferred Stock. Upon obtaining the Stockholder Approval, there will be 11,309,019 shares of common stock issuable upon conversion of all of the Series B-3 Convertible Preferred Stock, that may be acquired upon exercise of the Warrants. Note 18. Subsequent Events . Mezzanine Classification Series B-1 Preferred Stock is redeemable at the option of the holder and Series B-2 and B-3 Preferred Stock is redeemable in the event of a change in control. ASC 480-10-S99-3A(2) of the SEC’s Accounting Series Release No. 268 (“ASR 268”) requires preferred securities that are redeemable for cash or other assets to be classified outside of permanent equity if they are redeemable (i) at a fixed or determinable price on a fixed or determinable date, (ii) at the option of the holder, or (iii) upon the occurrence of an event that is not solely within the control of the issuer. Preferred securities that are mandatorily redeemable are required to be classified by the issuer as liabilities whereas under ASR 268, an issuer should classify a preferred security whose redemption is contingent on an event not entirely in control of the issuer as mezzanine equity. The Series B-1 Preferred Stock is redeemable at the option of the holder, B-2 and B-3 are redeemable, upon a change in control that is not solely within control of the Company, and accordingly, the Company determined that mezzanine treatment is appropriate for the Series B Preferred Stock and has presented it as such in our consolidated balance sheets and consolidated statements of changes in stockholders’ equity and mezzanine equity as of and for the period ending March 31, 2024 and December 31, 2023. Series B Preferred Stock is not considered mandatorily redeemable. Amendment to Articles of Incorporation – Series B Preferred Stock Pursuant to the terms of the Preferred Purchase Agreement, on February 20, 2024, the Company filed the Certificate of Designation with the Delaware Secretary of State designating 6,586 6,586 8,000 0.001 Series B Preferred Stock Rights: Voting Rights Conversion Note 18. Subsequent Events-Special Meeting of Stockholders. Liquidation (any such event, a “ Liquidation Liquidation Preference Series B Liquidation Amount Following the Stockholder Approval, upon any Liquidation, the assets of the Company available for distribution to its stockholders shall be distributed among the holders of the shares of Series B Preferred Stock and Common Stock, pro rata based on the number of shares held by each such holder, treating for this purpose all shares of Series B Preferred Stock as if they had been converted to Common Stock pursuant to the terms of the Certificate of Designation immediately prior to such Liquidation, without regard to any limitations on conversion set forth in the Certificate of Designation or otherwise. See Note 18. Subsequent Events-Special Meeting of Stockholders. Redemption Note 18. Subsequent Events-Special Meeting of Stockholders. Participation Right Common Stock: The holders of Common Stock are entitled to one vote for each share held. Common Stockholders are not entitled to receive dividends, unless declared by the Board. The Company has not declared dividends since inception. In the event of liquidation of the Company, dissolution or winding up, the holders of Common Stock are entitled to share ratably in all assets remaining after payment of liabilities. The Common Stock has no preemptive or conversion rights or other subscription rights. There are no redemption or sinking fund provisions applicable to the Common Stock. The outstanding shares of Common Stock are fully paid and non-assessable. Issuance of Common Stock Pursuant to the Exercise of 2023 Pre-Funded Warrants and Conversion of Series B-1 Preferred Stock On January 8, 2024 and February 2, 2024, an investor exercised 167,000 888,000 pre-funded warrants to purchase the Company’s common stock, par value $ 0.001 1,055,000 .0001 On February 22, 2024, concurrent with the closing of the Offering, 2,516,785 1,780

Equity Incentive Plans and Shar

Equity Incentive Plans and Share-Based Payments	3 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Equity Incentive Plans and Share-Based Payments	14. Equity Incentive Plans and Share-Based Payments 2021 Omnibus Incentive Plan In 2021, our Board adopted and our shareholders approved, the 2021 Omnibus Incentive Plan (“2021 Plan”). Under the original 2021 Plan, 137,500 shares are reserved and authorized for awards and the maximum contractual term is 10 years for stock options issued under the 2021 Plan. On December 12, 2022, the 2021 Plan was amended by our stockholders and the number of shares authorized for awards under the 2021 Plan was increased from 137,500 266,990 . As of March 31, 2024, there were 151,900 shares available for future awards under the amended 2021 Plan. Non-qualified stock options We maintain the 2021 Plan for the benefit of our officers, directors and employees. Employee stock options granted under the 2021 Plan generally vest in equal annual installments over three years and are exercisable for a period of up to ten years from the grant date. Non-employee director options vest in equal monthly installments following the date of grant and will be fully vested on the one-year anniversary of the date of grant. All stock options are exercisable at a price as set by the Company at the time of the grant but shall not be less than the market value of the common shares underlying the option on the grant date. The Company recognizes the grant-date fair value of share-based awards granted as compensation expense on a straight-line basis over the requisite service period. The fair value of stock options is estimated at the time of grant using the BSM option pricing model, which requires the use of inputs and assumptions such as the fair value of the underlying stock, exercise price of the option, expected term, risk-free interest rate, expected volatility and dividend yield. The Company elects to account for forfeitures as they occur. The fair value of each option was estimated on the date of the grant using the BSM option pricing model. There were no equity grants during the three months ended March 31, 2024. Share-based compensation expense related to stock options of approximately $ 0.1 0.3 Options outstanding and exercisable under the employee share option plan as of March 31, 2024 and a summary of option activity during the nine months then ended is presented below. Schedule of Stock Option Activity Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (1) Outstanding at December 31, 2023 99,486 $ 39.36 Granted - $ - Exercised - $ - Canceled or forfeited (10,076 ) $ 8.56 Outstanding at March 31, 2024 89,410 $ 42.83 8.50 $ - Exercisable at March 31, 2024 30,302 $ 63.37 8.00 $ - (1) The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying options and the fair value of the Common Stock for the options that were in the money at March 31, 2024. As of March 31, 2024, there was $ 0.7 1.68 Share-Based Compensation (RSUs) Restricted Stock Units (“RSUs”) will vest annually over two years, subject to the recipient’s continued service with the Company through the applicable vesting dates. The fair value of each RSU is determined based on the closing market price of the Company’s Common Stock on the grant date. Share-based compensation expense was $ 0.1 Schedule of Restricted Stock Units Shares Weighted Average Remaining Contractual Term Weighted Average Grant Date Fair Value Outstanding at December 31, 2023 4,771 $ 52.20 Awarded - $ - Vested - $ - Canceled or forfeited - 0.14 $ - Outstanding at March 31, 2024 4,771 0.14 $ 52.20 As of March 31, 2024, there was minimal unrecognized compensation cost related to unvested RSUs, which is expected to be recognized over a weighted-average period of approximately 0.14 years.

Interest Expense, net

Interest Expense, net	3 Months Ended
	Mar. 31, 2024
Interest Expense, net	15. Interest Expense, net Interest expense, net consists of the following: Schedule of Interest Expense (in thousands) 2024 2023 Three Months Ended March 31, (in thousands) 2024 2023 Interest expense $ (1,421 ) $ (2 ) Contract asset interest expense - (89 ) Interest income 14 56 Interest expense, net $ (1,407 ) $ (35 ) Interest expense is comprised primarily of interest on our short-term loans and line of credit, including amortization of deferred costs. Contract asset interest expense related to a $ 1.7 7.3 6 December 31, 2023 Interest income relates primarily to interest earned on funds deposited in our bank accounts.

Net Earnings (Loss) per Share

Net Earnings (Loss) per Share	3 Months Ended
	Mar. 31, 2024
Loss per common share:
Net Earnings (Loss) per Share	16. Net Earnings (Loss) per Share The Company uses the two-class method to calculate net income (loss) per share. No dividends were declared or paid for the three months ended March 31, 2024 and 2023. Undistributed earnings for each period are allocated equally to common shareholders and participating securities based on the contractual participation rights of the security to share in the current earnings as if all current period earnings had been distributed. Under the two-class method, the undistributed losses will be allocated entirely to the common stock shareholders. Basic net earnings (loss) per common share are calculated by dividing net income by the weighted average number of common shares outstanding during the period. Diluted net earnings per common share are calculated by dividing net income (loss) by the diluted weighted average number of common shares outstanding during the period. The diluted shares include the dilutive effect of stock-based awards based on the treasury stock method. In periods where a net loss is recorded, no effect is given to potentially dilutive securities, since the effect would be anti-dilutive. The following table sets forth the computation of the Company’s basic and diluted net earnings (loss) per share attributable to common stockholders (in thousands, except share and per share data): Schedule of Basic and Diluted Net Loss per Share Attributable to Common Stockholders 2024 2023 Three Months Ended March 31, 2024 2023 Net loss $ (10,437 ) $ (7,478 ) Weighted average common shares outstanding, basic and diluted 3,623,593 1,334,950 Net loss per share, basic and diluted $ (2.88 ) $ (5.60 ) The following table sets forth the securities that were anti-dilutive for diluted EPS for the periods presented but which could potentially dilute EPS in the future: Schedule of Anti-dilutive Securities Excluded from Computation of Earnings per Share March 31, 2024 2023 March 31, 2024 2023 Common stock warrants 2,269,356 459,856 Common stock options and RSUs 94,181 109,937 Unit Purchase Options 20,182 20,182 Shares related to Series B-1 convertible preferred stock 6,793,892 - Common Stock warrants include Purchase Warrants, Inducement Warrants and warrants issued in the Company’s initial public offering. The table does not include 11,309,019

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	17. Commitments and Contingencies Leases The Company leases its corporate headquarters under an operating lease that expires in August 2025. The Company has the option to extend the term of the lease for one five (5)-year period 0.1 The Company has also entered into a master lease agreement for its vehicles. After an initial non-cancelable twelve-month period, each vehicle is leased on a month-to-month basis. Based on historical retention experience of approximately three years, the vehicles have varying expiration dates through March 2027. Future lease payments under non-cancelable leases as of March 31, 2024 were as follows (in thousands): Schedule of Future Commitments and Sublease Income Years ending December 31, Future lease commitments Remainder of 2024 $ 573 2025 582 2026 238 2027 31 Thereafter - Total future minimum lease payments $ 1,424 Less imputed interest (113 ) Total lease liability $ 1,311 Schedule of Operating Lease Liability Reported as: Operating lease liability, current $ 690 Operating lease liability, non-current 621 Total $ 1,311 Ameluz LSA Sales Commitment If we fail to earn $ 150 Ameluz ® he RhodoLED ® In addition, starting in 2025, under the Second A&R Ameluz LSA, we agree to purchase the higher of a minimum quantity of tubes of Ameluz® per year or at least a minimum 75% of the annual average of audited Ameluz® tubes sold during the preceding four (4) full calendar years (“Annual Minimum Sales”). If we fail to achieve the respective Annual Minimum Sales for any calendar year, such failure will constitute a termination event, unless waived by the Ameluz Licensor. Ameluz Minimum Research and Development Costs (“Minimum R&D Costs”) During the years 2025 through 2030, we will be required to fund Minimum R&D Costs in an amount that is at least 85% of the difference between (i) the Transfer Price for product, effective February 13, 2024 and (ii) the Transfer Price for product as it would have been determined under the previous Ameluz LSA, dated October 8, 2021. If we fail to meet the minimum requirement, the difference shall be paid to Biofrontera Pharma on February 15, 2031, in either cash or our Common Stock, at our discretion. Licensing Agreement with Optical Tools On December 2, 2022, the Company entered into the technology transfer agreement with Optical Tools LLC (“Optical Tools”), Stephen Tobin and Paul Sowyrda (the “Agreement”). The Agreement allowed for the transfer of the assigned patents and trademarks, and upon notification by the Company to Optical Tools, the research and development of certain prototypes. The Company paid a licensing fee of $ 0.2 On May 28, 2023, the Company authorized Optical Tools to design, develop, manufacture, and deliver at least two portable photodynamic therapy lamp prototypes (“PDT Device”) using the technology in the assigned patents. The PDT Device provides illumination, based on different light profiles, to the external skin surface of the human body. The Company is to reimburse Optical Tools for all reasonable out-of-pocket, material and labor costs per the Agreement. As part of the Agreement, Optical Tools will be eligible to receive regulatory and sales milestone payments totaling up to $ 1.0 3 The Company did not make any milestone or royalty payments or accruals for such payments during the three months ended March 31, 2024 or 2023. Milestone payments with Ferrer Internacional S.A. Under the Xepi LSA, we are obligated to make payments to Ferrer upon the occurrence of certain milestones. Specifically, we must pay Ferrer i) $ 2,000,000 ® 25,000,000 4,000,000 ® 50,000,000 ® Legal proceedings At each reporting date, the Company evaluates whether or not a potential loss amount or a potential range of loss is probable and reasonably estimable under the provisions of FASB ASC Topic 450, Contingencies Legal Claim On September 13, 2023, Biofrontera was served with a complaint filed in United Stated District Court for the District of Massachusetts by DUSA Pharmaceuticals, Inc., Sun Pharmaceutical Industries, Inc., and Sun Pharmaceutical Industries LTD (collectively “DUSA” or “Plaintiffs”) in which DUSA alleges breach of contract, violation of the Lanham Act, and unfair trade practices. All claims stem from allegations that Biofrontera has promoted its Ameluz product in a manner that is inconsistent with its approved FDA labeling. Though this complaint was originally filed in the U.S. District Court for the District of Massachusetts, this matter has been transferred by agreement of the parties to the U.S. District Court for the District of New Jersey. The Company denies the Plaintiffs’ claims and intends to defend these matters vigorously. Based on the Company’s assessment of the facts underlying the above claims, the uncertainty of litigation and the preliminary stage of the case, the Company cannot estimate the possibility of a material loss, nor the potential range of loss that may result from this action. If the final resolution of the matter is adverse to the Company, it could have a material impact on the Company’s financial position, results of operations, or cash flows.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	18. Subsequent Events We have completed an evaluation of subsequent events after the balance sheet date of March 31, 2024 through the date this Quarterly Report on Form 10-Q was submitted to the SEC. Special Meeting of Stockholders On April 24, 2024, the Company held a Special Meeting of Stockholders, at which the stockholders approved an amendment to the Company’s Amended and Restated Certificate of Incorporation to increase the number of authorized shares of Common Stock from 15,000,000 35,000,000 Preferred Warrants Exercised On May 2, 2024, the Board certified and the Company publicly announced, that the Company has achieved certain milestones as described in the Preferred Warrants to purchase shares of Series B-3 Preferred Stock. Specifically, the Board certified that (i) at least 95% of the Company’s territory managers, medical science liaisons, and reimbursement employees are using the Company’s customer relationship management system routinely or on a performance improvement plan, and (ii) the Company’s revenue for the period starting on January 1, 2024 and ending April 30, 2024 excluding revenue from related parties (including Biofrontera AG) is at least 5% higher than the Company’s revenue excluding revenue from related parties (including Biofrontera AG) for the corresponding period of the same length, starting on January 1, 2023 (collectively, the “Milestones”). Because (i) the Board has certified, and the Company has publicly announced the Company’s achievement of the Milestones, (ii) the Company has completed the Authorized Share Increase on April 25, 2024, and (iii) the registration statement registering the resale of such shares filed with the SEC on May 2, 2024, became effective on May 9, 2024 an expiration date of May 14, 2024 has been triggered on with respect to the Preferred Warrants. On May 13 and 14, 2024, the Preferred Warrants were exercised (the “Exercise”) to purchase 7,998 0.001 7.4 Note 13. Mezzanine Equity and Stockholder’s Equity Settlement Agreement with Biofrontera AG On May 6, 2024, the Company (along with certain current directors) and Biofrontera AG entered into an amendment (the “Amendment”) to a Settlement Agreement, dated as of April 11, 2023, by and among the Company, Hermann Luebbert, John J. Borer, Loretta M. Wedge, Beth J. Hoffman, Kevin D. Weber, and Biofrontera AG, as previously amended on October 12, 2023. Pursuant to the Amendment, the search for an additional independent Class III director to be mutually selected by the Company and Biofrontera AG, which was to occur no earlier than January 1, 2024 and no later than September 1, 2024, will no longer be required. The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the Amendment, a copy of which is filed herewith as Exhibit 10.1 and incorporated herein by reference. Nasdaq Compliance As previously disclosed, the Company received a notice from the Listing Qualifications Staff of The Nasdaq Stock Market (“Nasdaq”) in November 2023 stating that, because the Company’s stockholders’ equity as reported in its Quarterly Report on Form 10-Q for the period ended September 30, 2023 was $1,038,000, the Company was no longer in compliance with Nasdaq’s continued listing requirement as set forth in Nasdaq Listing Rule 5550(b)(1), which requires that a listed company’s stockholders’ equity be at least $2,500,000 (the “Stockholders’ Equity Requirement”). Additionally, as of the date of the notice, the Company did not meet either of the alternative requirements of maintaining a market value of listed securities of $35 million or achieving a net income from continuing operations of $500,000 in the most recently completed fiscal year or in two of the last three most recently completed fiscal years. The Company submitted a compliance plan to Nasdaq in January 2024 that detailed the Company’s plan to regain compliance with the Stockholders’ Equity Requirement. Nasdaq accepted the plan and granted the Company an extension to evidence compliance. The Company has executed components of the plan by reducing costs and raising equity in 2024. As of the date of this filing, the Company has stockholders’ equity above the $ 2.5 Updates to Executive Employment Contracts On May 10, 2024, the Company entered into amended and restated employment agreements with Fred Leffler, the Company’s Chief Financial Officer, and Hermann Luebbert, its Chief Executive Officer and Chairman. The amended and restated agreements (a) provide for increases in the respective base salaries of Messrs. Leffler and Luebbert; and (b) permit future increases in their respective base salaries, provided that such increases are approved by the Company’s Board and/or its Compensation Committee, as applicable. In addition, a number of non-substantive revisions have been made to Mr. Luebbert’s previous employment agreement to conform to changes in his role with the Company. The foregoing description of the amended and restated employment agreements does not purport to be complete and is qualified in its entirety by reference to the copy of the amended and restated employment agreements filed as Exhibits 10.2 and 10.3 to this report and incorporated herein by reference.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Basis for Preparation of the Financial Statements	Basis for Preparation of the Financial Statements The accompanying unaudited interim condensed consolidated financial statements of the Company have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial reporting. Certain information and footnote disclosures normally included in the annual financial statements prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) have been condensed or omitted pursuant to such rules and regulations. In the Company’s opinion, the unaudited condensed consolidated financial statements include all material adjustments, all of which are of a normal and recurring nature, necessary to present fairly the Company’s financial position as of March 31, 2024, the Company’s operating results for the three months ended March 31, 2024 and 2023, and the Company’s cash flows for the three months ended March 31, 2024 and 2023. The accompanying financial information as of December 31, 2023 is derived from audited financial statements. Interim results are not necessarily indicative of results for a full year. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on March 15, 2024. All amounts shown in these financial statements and tables are in thousands and amounts in the notes are in millions, except percentages and per share and share amounts. Reverse Stock Split On July 3, 2023, the Company effected a 1-for-20 0.001 All information included in these consolidated financial statements has been adjusted, on a retrospective basis, to reflect the Reverse Stock Split as if it had been effective from the beginning of the earliest period presented, unless otherwise stated. All outstanding securities entitling their holders to purchase shares of Common Stock or acquire shares of Common Stock, including stock options, restricted stock units, and warrants, were adjusted as a result of the Reverse Stock Split, as required by the terms of those securities. With the exception of the accounting policies below, there have been no new or material changes to the significant accounting policies discussed in the Company’s Form 10-K for the year ended December 31, 2023.
Mezzanine equity	Mezzanine equity Where ordinary or preferred shares are determined to be conditionally redeemable upon the occurrence of certain events that are not solely within the control of the issuer, and upon such event, the shares would become redeemable at the option of the holders, they are classified as ‘mezzanine equity’ (temporary equity). The purpose of this classification is to convey that such a security may not be permanently part of equity and could result in a demand for cash, securities or other assets of the entity in the future.
Use of Estimates	Use of Estimates The preparation of the financial statements in accordance with U.S. GAAP requires the use of estimates and assumptions by management that affect the reported amounts of assets and liabilities, as well as disclosure of contingent assets and liabilities, as reported on the balance sheet date, and the reported amounts of revenues and expenses arising during the reporting period. The main areas in which assumptions, estimates and the exercising of judgment are appropriate relate to, valuation allowances for receivables and inventory, valuation of contingent consideration and warrant liabilities, realization of intangible and other long-lived assets, product sales allowances and reserves, share-based payments and income taxes including deferred tax assets and liabilities. Estimates are based on historical experience and other assumptions that are considered appropriate in the circumstances. They are continuously reviewed but may vary from the actual values.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In August 2020, the FASB issued ASU 2020-06, Debt- Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity In November 2023, the FASB issued ASU 2023-07, Improvements to Reportable Segment Disclosures In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740) – Improvements to Income Tax Disclosures

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value Hierarchy Valuation Inputs	The following table presents information about the Company’s assets that are measured at fair value on a recurring basis at March 31, 2024 and December 31, 2023 and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value: Schedule of Fair Value Hierarchy Valuation Inputs (in thousands) Level March 31, 2024 December 31, 2023 Assets: Investment, related party 1 $ 23 $ 78 Liabilities: Warrant liability – 2022 Purchase Warrants 3 $ 162 $ 328 Warrant liability - 2022 Inducement Warrants 3 $ 204 $ 412 Warrant liability – 2023 Purchase Warrants 3 $ 1,717 $ 3,470 Warrant liability - 2024 Preferred Warrants 3 $ 9,648 $ - Warrant liability 3 $ 9,648 $ - Total Liabilities $ 11,731 $ 4,210
The BSM model used the following inputs and assumptions (i) expected stock price volatility of 79.3% to 105%; (ii) risk-free interest rate of 5.39%; to 5.41% (iii) expected life of the warrants of .21 to .11 years and (iv) dividend yield of 0.0%.	The BSM model used the following inputs and assumptions (i) expected stock price volatility of 79.3% to 105%; (ii) risk-free interest rate of 5.39%; to 5.41% (iii) expected life of the warrants of .21 to .11 years and (iv) dividend yield of 0.0%.
Schedule of Changes in Fair Value Warrant Liabilities	The following table presents the changes in the Level 3 warrant liabilities measured at fair value (in thousands): Schedule of Changes in Fair Value Warrant Liabilities Three Months Ended March 31, 2024 2023 Fair value at beginning of period $ 4,210 $ 2,843 Issuance of new warrants 4,092 - Exercise of warrants - - Change in fair value of warrant liabilities 3,429 (1,028 ) Fair value at end of period $ 11,731 $ 1,815

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2024
Disaggregation of Revenue [Abstract]
Schedule of Revenue Allowance and Accrual Activities	An analysis of the changes in product revenue allowances and reserves is summarized as follows: Schedule of Revenue Allowance and Accrual Activities (in thousands): Returns Co-pay assistance program Prompt pay discounts Government and payor rebates Total Balance at December 31, 2022 $ 48 $ 9 $ 5 $ 20 $ 82 Provision related to current period sales 1 62 3 33 99 Credit or payments made during the period - (71 ) (2 ) (39 ) (112 ) Balance at March 31, 2023 $ 49 $ - $ 6 $ 14 $ 69 Balance at December 31, 2023 $ 52 $ - $ 6 $ 54 $ 112 Balance $ 52 $ - $ 6 $ 54 $ 112 Provision related to current period sales - - - 53 53 Credit or payments made during the period - - - (25 ) (25 ) Balance at March 31, 2024 $ 52 - 6 82 140 Balance $ 52 - 6 82 140

Investment, Related Party (Tabl

Investment, Related Party (Tables)	3 Months Ended
	Mar. 31, 2024
Investments, All Other Investments [Abstract]
Schedule of Unrealized Gains and Losses on Investments in Equity Securities	Gain/(loss) on investment, related party, was comprised of the following: Schedule of Unrealized Gains and Losses on Investments in Equity Securities Three months ended March 31, (in thousands) 2024 2023 Net gain (loss) recognized during the period on equity securities $ 3 $ (2,941 ) Less: Net realized loss on equity securities sold (98 ) - Unrealized gain/(loss) recognized during the reporting period on equity securities still held at the reporting date $ 101 $ (2,941 )

Intangible Asset, Net (Tables)

Intangible Asset, Net (Tables)	3 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Asset Net	Intangible asset, net consists of the following: Schedule of Intangible Asset Net (in thousands) March 31, 2024 December 31, 2023 Capitalized software $ 49 $ 15 Xepi® license $ 4,600 $ 4,600 Less: Accumulated amortization (2,093 ) (1,986 ) Intangible asset, net $ 2,556 $ 2,629

Cash Balances and Statement o_2

Cash Balances and Statement of Cash Flows Reconciliation (Tables)	3 Months Ended
	Mar. 31, 2024
Cash and Cash Equivalents [Abstract]
Schedule of Reconciliation of Cash, Cash Equivalents, and Restricted Cash	The following table provides a reconciliation of cash, cash equivalents, and restricted cash that sum to the total shown in the statements of cash flows: Schedule of Reconciliation of Cash, Cash Equivalents, and Restricted Cash (in thousands) March 31, 2024 December 31, 2023 Cash and cash equivalents $ 3,817 $ 1,343 Long-term restricted cash 200 200 Total cash, cash equivalents, and restricted cash shown on the consolidated statements of cash flows $ 4,017 $ 1,543

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	3 Months Ended
	Mar. 31, 2024
Payables and Accruals [Abstract]
Schedule of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities consist of the following: Schedule of Accrued Expenses and Other Current Liabilities (in thousands) March 31, 2024 December 31, 2023 Legal settlement $ - $ 403 Employee compensation and benefits 2,968 2,185 Professional fees 530 1,064 Distribution and Storage 97 118 Product revenue allowances and reserves 176 149 Other 459 568 Total $ 4,230 $ 4,487

Equity Incentive Plans and Sh_2

Equity Incentive Plans and Share-Based Payments (Tables)	3 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Stock Option Activity	Options outstanding and exercisable under the employee share option plan as of March 31, 2024 and a summary of option activity during the nine months then ended is presented below. Schedule of Stock Option Activity Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (1) Outstanding at December 31, 2023 99,486 $ 39.36 Granted - $ - Exercised - $ - Canceled or forfeited (10,076 ) $ 8.56 Outstanding at March 31, 2024 89,410 $ 42.83 8.50 $ - Exercisable at March 31, 2024 30,302 $ 63.37 8.00 $ - (1) The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying options and the fair value of the Common Stock for the options that were in the money at March 31, 2024.
Schedule of Restricted Stock Units	Schedule of Restricted Stock Units Shares Weighted Average Remaining Contractual Term Weighted Average Grant Date Fair Value Outstanding at December 31, 2023 4,771 $ 52.20 Awarded - $ - Vested - $ - Canceled or forfeited - 0.14 $ - Outstanding at March 31, 2024 4,771 0.14 $ 52.20

Interest Expense, net (Tables)

Interest Expense, net (Tables)	3 Months Ended
	Mar. 31, 2024
Schedule of Interest Expense	Interest expense, net consists of the following: Schedule of Interest Expense (in thousands) 2024 2023 Three Months Ended March 31, (in thousands) 2024 2023 Interest expense $ (1,421 ) $ (2 ) Contract asset interest expense - (89 ) Interest income 14 56 Interest expense, net $ (1,407 ) $ (35 )

Net Earnings (Loss) per Share (

Net Earnings (Loss) per Share (Tables)	3 Months Ended
	Mar. 31, 2024
Loss per common share:
Schedule of Basic and Diluted Net Loss per Share Attributable to Common Stockholders	The following table sets forth the computation of the Company’s basic and diluted net earnings (loss) per share attributable to common stockholders (in thousands, except share and per share data): Schedule of Basic and Diluted Net Loss per Share Attributable to Common Stockholders 2024 2023 Three Months Ended March 31, 2024 2023 Net loss $ (10,437 ) $ (7,478 ) Weighted average common shares outstanding, basic and diluted 3,623,593 1,334,950 Net loss per share, basic and diluted $ (2.88 ) $ (5.60 )
Schedule of Anti-dilutive Securities Excluded from Computation of Earnings per Share	The following table sets forth the securities that were anti-dilutive for diluted EPS for the periods presented but which could potentially dilute EPS in the future: Schedule of Anti-dilutive Securities Excluded from Computation of Earnings per Share March 31, 2024 2023 March 31, 2024 2023 Common stock warrants 2,269,356 459,856 Common stock options and RSUs 94,181 109,937 Unit Purchase Options 20,182 20,182 Shares related to Series B-1 convertible preferred stock 6,793,892 -

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Commitments and Sublease Income	Future lease payments under non-cancelable leases as of March 31, 2024 were as follows (in thousands): Schedule of Future Commitments and Sublease Income Years ending December 31, Future lease commitments Remainder of 2024 $ 573 2025 582 2026 238 2027 31 Thereafter - Total future minimum lease payments $ 1,424 Less imputed interest (113 ) Total lease liability $ 1,311
Schedule of Operating Lease Liability	Schedule of Operating Lease Liability Reported as: Operating lease liability, current $ 690 Operating lease liability, non-current 621 Total $ 1,311

Organization and Business Ove_2

Organization and Business Overview (Details Narrative) - USD ($)			3 Months Ended
	May 15, 2024	Feb. 19, 2024	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Net cash provided by (used in) operating activities			$ (3,325,000)	$ (3,689,000)
Accumulated deficit			110,087,000		$ 99,650,000
Proceeds from issuance of private placement			7,300,000
Cash and cash equivalents, at carrying value			3,817,000	1,300,000	$ 1,343,000
Discretionary expenses			5,500,000
Research and development cost			$ 17,000
Second Amended And Restated License And Supply Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development cost		$ 1,500,000
Securities Purchase Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Net proceeds		$ 7,300,000
Number of warrants issued		8,000
Securities Purchase Agreement [Member] | Subsequent Event [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Proceeds from warrant exercises	$ 7,400,000
Securities and Purchase Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Warrant, exercise price per share		$ 1,000

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details Narrative) - $ / shares	Jul. 03, 2023	Mar. 31, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
Reverse stock split	1-for-20
Common stock, par value	$ 0.001	$ 0.001	$ 0.001

Schedule of Fair Value Hierarch

Schedule of Fair Value Hierarchy Valuation Inputs (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Liabilities	$ 11,731	$ 4,210
Fair Value, Inputs, Level 1 [Member] | Related Party [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment, related party	23	78
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Liabilities	11,731	4,210	$ 1,815	$ 2,843
Fair Value, Inputs, Level 3 [Member] | 2022 Common Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Liabilities	162	328
Fair Value, Inputs, Level 3 [Member] | 2022 Inducement Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant liability - 2022 Inducement Warrants	204	412
Fair Value, Inputs, Level 3 [Member] | 2023 Common Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Liabilities	1,717	3,470
Fair Value, Inputs, Level 3 [Member] | 2024 Preferred Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Liabilities	$ 9,648

Schedule of Fair Value Warrant

Schedule of Fair Value Warrant by Using Black-Scholes Pricing Model Assumptions (Details) - Fair Value, Inputs, Level 3 [Member]	Mar. 31, 2024 $ / shares
Measurement Input, Share Price [Member] | 2022 Common Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stock price	$ 1.54
Measurement Input, Share Price [Member] | 2022 Inducement Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stock price	1.54
Measurement Input, Share Price [Member] | 2023 Common Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Stock price	$ 1.54
Measurement Input, Expected Term [Member] | 2022 Common Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Expiration term (in years)	4 years 7 months 2 days
Measurement Input, Expected Term [Member] | 2022 Inducement Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Expiration term (in years)	4 years 7 months 2 days
Measurement Input, Expected Term [Member] | 2023 Common Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Expiration term (in years)	4 years 7 months 2 days
Measurement Input, Option Volatility [Member] | 2022 Common Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant outstanding, measurement input	100
Measurement Input, Risk Free Interest Rate [Member] | 2022 Common Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant outstanding, measurement input	4.20
Measurement Input, Expected Dividend Payment [Member] | 2022 Common Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrant outstanding, measurement input	0

Schedule of Changes in Fair Val

Schedule of Changes in Fair Value Warrant Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value at beginning of period	$ 4,210
Change in fair value of warrant liabilities	3,429	$ (1,028)
Fair value at end of period	11,731
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value at beginning of period	4,210	2,843
Issuance of new warrants	4,092
Exercise of warrants
Change in fair value of warrant liabilities	3,429	(1,028)
Fair value at end of period	$ 11,731	$ 1,815

Fair Value Measurements (Detail

Fair Value Measurements (Details Narrative) - $ / shares	Mar. 31, 2024	Dec. 31, 2023	Feb. 20, 2024	Feb. 19, 2024	Nov. 02, 2023	Nov. 02, 2022	Jul. 26, 2022	May 16, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in equity securities, shares	63,415	177,465
Preferred stock, par or stated value per share	$ 0.001	$ 0.001
Series B3 Preferred Stock [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Class of warrant or right, number of securities called by warrants or rights				8,000
Authorized and unissued preferred stock			8,000
Preferred stock, par or stated value per share				$ 0.001
Fair Value, Inputs, Level 3 [Member] | 2022 Common Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Class of warrant or right, exercise price of warrants or rights						$ 3.55
Fair Value, Inputs, Level 3 [Member] | 2022 Inducement Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Class of warrant or right, number of securities called by warrants or rights							214,286
Class of warrant or right, exercise price of warrants or rights					$ 3.55
Fair Value, Inputs, Level 3 [Member] | 2023 Common Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Class of warrant or right, number of securities called by warrants or rights					1,807,500
Class of warrant or right, exercise price of warrants or rights					$ 3.55
Warrants expiring term					5 years
Fair Value, Inputs, Level 3 [Member] | 2024 Preferred Warrants [Member] | Series B3 Preferred Stock [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Authorized and unissued preferred stock					8,000
Preferred stock, par or stated value per share					$ 0.001
Fair Value, Inputs, Level 3 [Member] | Private Placement [Member] | 2022 Common Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Class of warrant or right, number of securities called by warrants or rights								170,950

Schedule of Revenue Allowance a

Schedule of Revenue Allowance and Accrual Activities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue [Line Items]
Balance	$ 112	$ 82
Provision related to current period sales	53	99
Credit or payments made during the period	(25)	(112)
Balance	140	69
Returns [Member]
Disaggregation of Revenue [Line Items]
Balance	52	48
Provision related to current period sales		1
Credit or payments made during the period
Balance	52	49
Co-pay Assistance Program [Member]
Disaggregation of Revenue [Line Items]
Balance		9
Provision related to current period sales		62
Credit or payments made during the period		(71)
Balance
Prompt Pay Discounts [Member]
Disaggregation of Revenue [Line Items]
Balance	6	5
Provision related to current period sales		3
Credit or payments made during the period		(2)
Balance	6	6
Government and Payor Rebates [Member]
Disaggregation of Revenue [Line Items]
Balance	54	20
Provision related to current period sales	53	33
Credit or payments made during the period	(25)	(39)
Balance	$ 82	$ 14

Schedule of Unrealized Gains an

Schedule of Unrealized Gains and Losses on Investments in Equity Securities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Investments, All Other Investments [Abstract]
Net gain (loss) recognized during the period on equity securities	$ 3	$ (2,941)
Less: Net realized loss on equity securities sold	(98)
Unrealized gain/(loss) recognized during the reporting period on equity securities still held at the reporting date	$ 101	$ (2,941)

Investment, Related Party (Deta

Investment, Related Party (Details Narrative) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]
Proceeds from sale of equity securities	$ 57
Biofrontera AG [Member]
Defined Benefit Plan Disclosure [Line Items]
Investment in equity securities, shares	63,415		177,465

Accounts Receivable, net (Detai

Accounts Receivable, net (Details Narrative) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Credit Loss [Abstract]
Allowance for doubtful accounts	$ 0.3	$ 0.2

Inventories (Details Narrative)

Inventories (Details Narrative) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2023
Ameluz [Member]
Inventory [Line Items]
Inventory write down	$ 0	$ 5.2

Schedule of Intangible Asset Ne

Schedule of Intangible Asset Net (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Capitalized software	$ 49	$ 15
Xepi® license	4,600	4,600
Less: Accumulated amortization	(2,093)	(1,986)
Intangible asset, net	$ 2,556	$ 2,629

Intangible Asset, Net (Details

Intangible Asset, Net (Details Narrative) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Xepi license fair value	$ 4,600		$ 4,600
Xepi license useful life	11 years
Amortization expense	$ 107	$ 105

Schedule of Reconciliation of C

Schedule of Reconciliation of Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 3,817	$ 1,343	$ 1,300
Long-term restricted cash	200	200
Total cash, cash equivalents, and restricted cash shown on the consolidated statements of cash flows	$ 4,017	$ 1,543

Cash Balances and Statement o_3

Cash Balances and Statement of Cash Flows Reconciliation (Details Narrative) $ in Millions	Mar. 31, 2024 USD ($)
Cash and Cash Equivalents [Abstract]
FDIC, excess amount	$ 3.7

Schedule of Accrued Expenses an

Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Payables and Accruals [Abstract]
Legal settlement		$ 403
Employee compensation and benefits	2,968	2,185
Professional fees	530	1,064
Distribution and Storage	97	118
Product revenue allowances and reserves	176	149
Other	459	568
Total	$ 4,230	$ 4,487

Debt (Details Narrative)

Debt (Details Narrative) - USD ($)			3 Months Ended
	Jan. 04, 2024	Dec. 21, 2023	Mar. 31, 2024	Mar. 31, 2023
Line of Credit Facility [Line Items]
Repayment of line of credit, principal			$ 357,000
Interest expense			1,421,000	$ 2,000
Loan Agreement [Member] | MidCap Business Credit LLC [Member]
Line of Credit Facility [Line Items]
Repayment of line of credit, principal	$ 400,000
Line of credit, interest	200,000
Payment for termination fee	$ 200,000
Loss related to prepayment fees and deferred financing costs			300,000
Business Loan and Security Agreement [Member] | Secured Promissory Note [Member]
Line of Credit Facility [Line Items]
Interest expense aggregate amount			$ 880,000
Loan interest rate			44%
Business Loan and Security Agreement [Member] | Secured Promissory Note [Member] | Agile Lending LLC [Member]
Line of Credit Facility [Line Items]
Loans default interest rate			5%
Business Loan and Security Agreement [Member] | Secured Promissory Note [Member] | Cedar Advance LLC [Member]
Line of Credit Facility [Line Items]
Loans default interest rate			5%
Business Loan and Security Agreement [Member] | Agile Lending LLC [Member] | Secured Promissory Note [Member]
Line of Credit Facility [Line Items]
Principal amount		$ 2,000,000
Loan periodic payment		$ 102,857
Loan maturity date		Jul. 05, 2024
Stock issuance costs		$ 300,000
Interest expense			$ 1,200,000
Discount amortization			200,000
Principal outstanding amount			2,500,000
Unamortized issuance cost			100,000
Business Loan and Security Agreement [Member] | Cedar Advance LLC [Member] | Secured Promissory Note [Member]
Line of Credit Facility [Line Items]
Principal amount		2,000,000
Loan periodic payment		$ 102,857
Loan maturity date		Jul. 05, 2024
Stock issuance costs		$ 300,000
Interest expense			1,200,000
Discount amortization			200,000
Principal outstanding amount			2,500,000
Unamortized issuance cost			$ 100,000

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)				3 Months Ended		12 Months Ended
	Mar. 31, 2024	Feb. 19, 2024	Dec. 31, 2023	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Feb. 29, 2024
Related Party Transaction [Line Items]
Amount due from Bioscience	$ 3,520,000		$ 5,162,000	$ 3,520,000		$ 5,162,000
Legal settlements receivable percentage			50%			50%
Investment in equity securities, shares	63,415		177,465
Biofrontera AG [Member]
Related Party Transaction [Line Items]
Legel settlement			$ 2,800,000			$ 2,800,000	$ 2,800,000
Investment in equity securities, shares	63,415		177,465	63,415		177,465
Biofrontera Pharma GmbH [Member]
Related Party Transaction [Line Items]
Interest income				$ 0		$ 0
License and Supply Agreement [Member]
Related Party Transaction [Line Items]
Related party costs				300,000	$ 4,600,000
Accounts payable related parties	$ 4,000,000		$ 8,500,000	4,000,000		8,500,000
Service Agreements [Member] | Biofrontera AG [Member]
Related Party Transaction [Line Items]
Accounts payable related parties	100,000		100,000	100,000		100,000
Clinical Lamp Lease Agreement [Member] | Biofrontera Pharma GmbH [Member]
Related Party Transaction [Line Items]
Amount due from Bioscience	$ 200,000		$ 200,000	$ 200,000		200,000
Share Purchase and Transfer Agreement [Member]
Related Party Transaction [Line Items]
Number of shares in equity securities investment value						$ 100,000
Investment in equity securities, shares						177,465
Ameluz LSA [Member]
Related Party Transaction [Line Items]
Transfer Price percentage for sales related to acne		25%
Inventory write-off						$ 5,200,000
Through 2025 [Member] | Ameluz LSA [Member]
Related Party Transaction [Line Items]
Transfer price percentage		25%
2026 to 2028 [Member] | Ameluz LSA [Member]
Related Party Transaction [Line Items]
Transfer price percentage		30%
2029 to 2031 [Member] | Ameluz LSA [Member]
Related Party Transaction [Line Items]
Transfer price percentage		32%
2032 and After [Member] | Ameluz LSA [Member]
Related Party Transaction [Line Items]
Transfer price percentage		35%

Mezzanine Equity and Stockhol_2

Mezzanine Equity and Stockholders’ Equity (Details Narrative) - USD ($) $ / shares in Units, $ in Millions					3 Months Ended
	Feb. 22, 2024	Feb. 19, 2024	Feb. 02, 2024	Jan. 08, 2024	Mar. 31, 2024	Apr. 24, 2024	Feb. 20, 2024	Dec. 31, 2023	Jul. 03, 2023
Class of Stock [Line Items]
Common stock shares authorized					15,000,000			15,000,000	15,000,000
Preferred stock shares, authorized					19,978,828			19,978,828	20,000,000
Common stock, par value					$ 0.001			$ 0.001	$ 0.001
Preferred stock par or stated value per share					$ 0.001			$ 0.001
Aggregate offering price					$ 7.3
Common stock, shares outstanding	5,089,413				5,089,413			1,517,628
Preferred stock, shares outstanding					0			0
Stock option exercised
Common Stock [Member]
Class of Stock [Line Items]
Number of shares issued for conversion	2,516,785
Common Stock [Member] | Purchaser [Member]
Class of Stock [Line Items]
Stock issued during period, shares, new issues	2,516,785
Common Stock [Member] | Investor [Member]
Class of Stock [Line Items]
Stock issued during period, shares, new issues			1,055,000	1,055,000
Shares issued price per share			$ 0.0001	$ 0.0001
2023 Pre-funded Warrant [Member] | Investor [Member]
Class of Stock [Line Items]
Common stock, par value			$ 0.001	$ 0.001
Stock option exercised			888,000	167,000
Series B1 Preferred Stock [Member]
Class of Stock [Line Items]
Convertible preferred stock, shares issued upon conversion		6,586
Preferred stock par or stated value per share		$ 0.001
Sale of stock, price per share		1,000
Authorized and unissued preferred stock							6,586
Convertible preferred stock par value					$ 0.001			$ 0.001
Number of shares converted	1,780
Series B3 Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock par or stated value per share		$ 0.001
Exercisable shares		8,000
Aggregate offering price		$ 8
Preferred stock convertible conversion price		$ 0.125
Preferred stock convertible shares issuable		11,309,019
Authorized and unissued preferred stock							8,000
Convertible preferred stock par value					0.001			0.001
Series B Preferred Stock [Member]
Class of Stock [Line Items]
Aggregate offering price		$ 7.3
Preferred stock convertible conversion price		$ 0.7074
Preferred stock convertible shares issuable		1,413.6
Series B-1 Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares outstanding	4,806
Stock issuable upon conversion	6,793,893
Series B-3 Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Stock issuable upon conversion	11,309,019
Series B2 Preferred Stock [Member]
Class of Stock [Line Items]
Authorized and unissued preferred stock							6,586
Convertible preferred stock par value					$ 0.001			$ 0.001
Subsequent Event [Member] | Minimum [Member]
Class of Stock [Line Items]
Common stock shares authorized						15,000,000
Subsequent Event [Member] | Maximum [Member]
Class of Stock [Line Items]
Common stock shares authorized						35,000,000

Schedule of Stock Option Activi

Schedule of Stock Option Activity (Details)	3 Months Ended
	Mar. 31, 2024 USD ($) $ / shares shares
Share-Based Payment Arrangement [Abstract]
Number of Shares Outstanding, Beginning Balance | shares	99,486
Weighted Average Exercise Price, Beginning Balance | $ / shares	$ 39.36
Number of Shares Outstanding, Granted | shares
Weighted Average Exercise Price, Granted | $ / shares
Number of Shares Outstanding, Exercised | shares
Weighted Average Exercise Price, Exercised | $ / shares
Number of Shares Outstanding, Canceled or forfeited | shares	(10,076)
Weighted Average Exercise Price, Canceled or forfeited | $ / shares	$ 8.56
Number of Shares Outstanding, Ending Balance | shares	89,410
Weighted Average Exercise Price, Ending Balance | $ / shares	$ 42.83
Weighted Average Remaining Contractual Life (in Years), Outstanding	8 years 6 months
Aggregate Intrinsic Value, Outstanding, Balance | $		[1]
Number of Shares Execisable, Ending Balance | shares	30,302
Weighted Average Exercise Price Options Exercisable, Ending Balance | $ / shares	$ 63.37
Weighted Average Remaining Contractual Life (in Years), Exercisable	8 years
Aggregate Intrinsic Value, Exercisable, Balance | $		[1]
[1]The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying options and the fair value of the Common Stock for the options that were in the money at March 31, 2024.

Schedule of Restricted Stock Un

Schedule of Restricted Stock Units (Details) - Restricted Stock Units (RSUs) [Member]	3 Months Ended
	Mar. 31, 2024 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares outstanding, beginning balance | shares	4,771
Number of shares weighted average grant date fair value, beginning balance | $ / shares	$ 52.20
Number of shares outstanding, Awarded | shares
Number of shares weighted average grant date fair value, Awarded | $ / shares
Number of shares outstanding, Vested | shares
Number of shares weighted average grant date fair value,Vested | $ / shares
Number of shares outstanding, Canceled or forfeited | shares
Weighted Average Remaining Contractual Life (in Years) Outstanding, Balance	1 month 20 days
Number of shares weighted average grant date fair value, Canceled or forfeited | $ / shares
Number of shares outstanding, ending balance | shares	4,771
Weighted Average Remaining Contractual Life (in Years) Outstanding, Balance	1 month 20 days
Number of shares weighted average grant date fair value, outstanding ending balance | $ / shares	$ 52.20

Equity Incentive Plans and Sh_3

Equity Incentive Plans and Share-Based Payments (Details Narrative) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2021	Dec. 12, 2022	Dec. 11, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized compensation cost	$ 0.7
Weighted average period for recognition of compensation cost	1 year 8 months 4 days
Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Weighted average period for recognition of compensation cost	1 month 20 days
Selling, General and Administrative Expenses [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share based compensation expenses	$ 0.1	$ 0.3
Selling, General and Administrative Expenses [Member] | Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share based compensation expenses	$ 0.1	$ 0.1
2021 Omnibus Incentive Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares reserved and authorized for awards			137,500	266,990	137,500
Maximum contractual term			10 years
Shares available for future grant	151,900

Schedule of Interest Expense (D

Schedule of Interest Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Interest expense	$ (1,421)	$ (2)
Contract asset interest expense		(89)
Interest income	14	56
Interest expense, net	$ (1,407)	$ (35)

Interest Expense, net (Details

Interest Expense, net (Details Narrative) - Maruho Co, Ltd. [Member] - Share Purchase Agreement [Member] $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)
Contract asset	$ 1.7
Startup cost financing	$ 7.3
Debt instrument stated percentage	6%
Debt maturity date	Dec. 31, 2023

Schedule of Basic and Diluted N

Schedule of Basic and Diluted Net Loss per Share Attributable to Common Stockholders (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Loss per common share:
Net loss	$ (10,437)	$ (7,478)
Weighted average common shares outstanding, basic	3,623,593	1,334,950
Weighted average common shares outstanding, diluted	3,623,593	1,334,950
Net loss per share, basic	$ (2.88)	$ (5.60)
Net loss per share, diluted	$ (2.88)	$ (5.60)

Schedule of Anti-dilutive Secur

Schedule of Anti-dilutive Securities Excluded from Computation of Earnings per Share (Details) - shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares related to Series B-1 convertible preferred stock	6,793,892
Common Stock Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares related to Series B-1 convertible preferred stock	2,269,356	459,856
Common Stock Options and RSUs [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares related to Series B-1 convertible preferred stock	94,181	109,937
Unit Purchase Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares related to Series B-1 convertible preferred stock	20,182	20,182

Net Earnings (Loss) per Share_2

Net Earnings (Loss) per Share (Details Narrative) - shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive for diluted EPS	6,793,892
Series B-3 Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive for diluted EPS	11,309,019

Schedule of Future Commitments

Schedule of Future Commitments and Sublease Income (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Remainder of 2024	$ 573
2025	582
2026	238
2027	31
Thereafter
Total future minimum lease payments	1,424
Less imputed interest	(113)
Total lease liability	$ 1,311

Schedule of Operating Lease Lia

Schedule of Operating Lease Liability (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Operating lease liability, current	$ 690	$ 691
Operating lease liability, non-current	621	$ 804
Total lease liability	$ 1,311

Commitments and Contingencies_2

Commitments and Contingencies (Details Narrative) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2022
Product Liability Contingency [Line Items]
Lease option to extend	option to extend the term of the lease for one five (5)-year period
Licensing Agreement [Member]
Product Liability Contingency [Line Items]
Licensing fee			$ 200,000
Licensing Agreement [Member] | Maximum [Member]
Product Liability Contingency [Line Items]
Sales milestone payments	$ 1,000,000
Royalties percentage related to royalties	3%
Ameluz LSA [Member]
Product Liability Contingency [Line Items]
Revenue from sales	$ 150,000,000
Xepi L S A [Member]
Product Liability Contingency [Line Items]
Contractual obligation	2,000,000	$ 4,000,000
Xepi L S A [Member] | Maximum [Member]
Product Liability Contingency [Line Items]
Revenue from sales	25,000,000	$ 50,000,000
Facility Leases [Member]
Product Liability Contingency [Line Items]
Security deposit	$ 100,000

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands			3 Months Ended
	May 14, 2024	May 13, 2024	Mar. 31, 2024	May 15, 2024	Apr. 24, 2024	Dec. 31, 2023	Jul. 03, 2023	Mar. 31, 2023	Dec. 31, 2022
Common stock shares authorized			15,000,000			15,000,000	15,000,000
Stockholders' equity			$ (5,416)			$ 4,793		$ 16,751	$ 23,878
Nasdaq Compliance [Member]
Subsequent event, description			the Company received a notice from the Listing Qualifications Staff of The Nasdaq Stock Market (“Nasdaq”) in November 2023 stating that, because the Company’s stockholders’ equity as reported in its Quarterly Report on Form 10-Q for the period ended September 30, 2023 was $1,038,000, the Company was no longer in compliance with Nasdaq’s continued listing requirement as set forth in Nasdaq Listing Rule 5550(b)(1), which requires that a listed company’s stockholders’ equity be at least $2,500,000 (the “Stockholders’ Equity Requirement”). Additionally, as of the date of the notice, the Company did not meet either of the alternative requirements of maintaining a market value of listed securities of $35 million or achieving a net income from continuing operations of $500,000 in the most recently completed fiscal year or in two of the last three most recently completed fiscal years.
Subsequent Event [Member] | Series B 3 Convertible Preferred Stock [Member]
Number of warrants issued	7,998	7,998
Warrant, exercise price per share	$ 0.001	$ 0.001
Proceeds from warrant exercises	$ 7,400	$ 7,400
Subsequent Event [Member] | Minimum [Member]
Common stock shares authorized					15,000,000
Subsequent Event [Member] | Minimum [Member] | Nasdaq Compliance [Member]
Stockholders' equity				$ 2,500
Subsequent Event [Member] | Maximum [Member]
Common stock shares authorized					35,000,000