Biofrontera (BFRI) 10-Q 14 Aug 24 2024 Q2 Quarterly report Financial data

Cover

Cover - $ / shares	6 Months Ended
	Jun. 30, 2024	Aug. 12, 2024
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2024
Document Fiscal Period Focus	Q2
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		5,543,518
Entity Information, Former Legal or Registered Name	Not Applicable
Entity Listing, Par Value Per Share	$ 0.001
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	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 4,379	$ 1,343
Accounts receivable, net	3,504	5,162
Inventories, net	3,946	10,908
Prepaid expenses and other current assets	473	425
Total current assets	17,471	23,075
Property and equipment, net	101	134
Operating lease right-of-use assets	1,230	1,612
Intangible asset, net	2,448	2,629
Other assets	324	482
Total assets	21,574	27,932
Current liabilities:
Operating lease liabilities	701	691
Accrued expenses and other current liabilities	3,593	4,487
Short term debt	296	3,904
Total current liabilities	9,268	18,088
Long-term liabilities:
Warrant liabilities	921	4,210
Operating lease liabilities, non-current	443	804
Other liabilities	31	37
Total liabilities	10,663	23,139
Commitments and contingencies (Note 18)
Stockholders’ equity:
Series B Convertible Preferred stock, $0.001 par value, 20,000,000 shares authorized, no Series B-1, 4,806 Series B-2 and 7,998 Series B-3 shares issued and outstanding as of June 30, 2024 and no shares issued and outstanding as of December 31, 2023
Common stock, $0.001 par value, 35,000,000 shares authorized; 5,094,184 and 1,517,628 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively	5	2
Additional paid-in capital	121,250	104,441
Accumulated deficit	(110,344)	(99,650)
Total stockholders’ equity	10,911	4,793
Total liabilities and stockholders’ equity	21,574	27,932
Related Party [Member]
Current assets:
Investment, related party	10	78
Other assets, related party	5,159	5,159
Current liabilities:
Accounts payable, related parties	2,265	5,698
Nonrelated Party [Member]
Current liabilities:
Accounts payable, related parties	$ 2,413	$ 3,308

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	35,000,000	35,000,000
Common stock, shares issued	5,094,184	1,517,628
Common stock, shares outstanding	5,094,184	1,517,628
Series B Convertible Preferred Stock [Member]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	20,000,000	20,000,000
Series B-1 Preferred Stock [Member]
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Series B2 Preferred Stock [Member]
Preferred stock, shares issued	4,806	0
Preferred stock, shares outstanding	4,806	0
Series B-3 Preferred Stock [Member]
Preferred stock, shares issued	7,998	0
Preferred stock, shares outstanding	7,998	0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Defined Benefit Plan Disclosure [Line Items]
Product revenues, net	$ 7,831	$ 5,830	$ 15,732	$ 14,544
Revenues, related party	8	18	18	36
Total revenues, net	7,839	5,848	15,750	14,580
Operating expenses
Selling, general and administrative, related party	32	92	29	119
Research and development	621	11	637	11
Change in fair value of contingent consideration		100		(100)
Total operating expenses	12,910	14,547	26,288	28,770
Loss from operations	(5,071)	(8,699)	(10,538)	(14,190)
Other income (expense)
Change in fair value of warrants	5,438	375	2,009	1,403
Change in fair value of investment, related party	(14)	(1,482)	(11)	(4,424)
Loss on debt extinguishment			(316)
Interest expense, net	(596)	(79)	(2,003)	(114)
Other income, net	6	62	186	30
Total other income (expense)	4,834	(1,124)	(135)	(3,105)
Loss before income taxes	(237)	(9,823)	(10,673)	(17,295)
Income tax expense	20	14	21	20
Net loss	$ (257)	$ (9,837)	$ (10,694)	$ (17,315)
Loss per common share:
Basic	$ (0.05)	$ (7.23)	$ (2.45)	$ (12.73)
Diluted	$ (0.05)	$ (7.23)	$ (2.45)	$ (12.73)
Weighted-average common shares outstanding:
Basic	5,091,353	1,360,739	4,357,474	1,359,894
Diluted	5,091,353	1,360,739	4,357,474	1,359,894
Related Party [Member]
Operating expenses
Cost of revenues	$ 4,092	$ 2,772	$ 8,038	$ 7,319
Nonrelated Party [Member]
Operating expenses
Cost of revenues	250	116	421	167
Selling, general and administrative	$ 7,915	$ 11,456	$ 17,163	$ 21,254

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	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
Issuance of shares for vested restricted stock units
Issuance of shares for vested restricted stock units, shares		8,588
Stock based compensation			610		610
Net loss				(17,315)	(17,315)
Balance at Jun. 30, 2023		$ 1	104,006	(96,834)	7,173
Balance, shares at Jun. 30, 2023		1,343,538
Balance at Mar. 31, 2023		$ 1	103,747	(86,997)	16,751
Balance, shares at Mar. 31, 2023		1,334,950
Issuance of shares for vested restricted stock units
Issuance of shares for vested restricted stock units, shares		8,588
Stock based compensation			259		259
Net loss				(9,837)	(9,837)
Balance at Jun. 30, 2023		$ 1	104,006	(96,834)	7,173
Balance, shares at Jun. 30, 2023		1,343,538
Balance at Dec. 31, 2023		$ 2	104,441	(99,650)	4,793
Balance, shares at Dec. 31, 2023		1,517,628
Conversion of Series B-1 Preferred into Series B-2 Preferred and common stock		$ 2	3,568		3,570
Conversion of Series B-1 Preferred into Series B-2 Preferred, shares	4,806	2,516,785
Issuance of Series B-3 upon exercise of warrants			12,810		12,810
Issuance of Series B-3 Preferred for warrants, shares	7,998
Issuance of shares for vested restricted stock units
Issuance of shares for vested restricted stock units, shares		4,771
Stock based compensation			432		432
Net loss				(10,694)	(10,694)
Exercise of pre-funded warrants		$ 1	(1)
Exercise of pre-funded warrants, shares		1,055,000
Balance at Jun. 30, 2024		$ 5	121,250	(110,344)	10,911
Balance, shares at Jun. 30, 2024	12,804	5,094,184
Balance at Mar. 31, 2024		$ 5	104,666	(110,087)	(5,416)
Balance, shares at Mar. 31, 2024		5,089,413
Conversion of Series B-1 Preferred into Series B-2 Preferred and common stock			3,570		3,570
Conversion of Series B-1 Preferred into Series B-2 Preferred, shares	4,806
Issuance of Series B-3 upon exercise of warrants			12,810		12,810
Issuance of Series B-3 Preferred for warrants, shares	7,998
Issuance of shares for vested restricted stock units
Issuance of shares for vested restricted stock units, shares		4,771
Stock based compensation			204		204
Net loss				(257)	(257)
Balance at Jun. 30, 2024		$ 5	$ 121,250	$ (110,344)	$ 10,911
Balance, shares at Jun. 30, 2024	12,804	5,094,184

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net loss	$ (10,694)	$ (17,315)
Adjustments to reconcile net loss to cash flows used in operations:
Depreciation	42	44
Amortization of right-of-use assets	358	265
Amortization of acquired intangible assets	216	209
Realized/unrealized (gain)/ loss in investment, related party	11	4,424
Change in fair value of contingent consideration		(100)
Change in fair value of warrant liabilities	(2,009)	(1,403)
Stock-based compensation	432	610
Allowance for credit losses	77	64
Loss on debt extinguishment	316
Non-cash interest expense	246	190
Changes in operating assets and liabilities:
Accounts receivable	1,581	1,491
Other receivables, related party	3	2,397
Prepaid expenses and other assets	(28)	(302)
Inventories	6,961	(7,617)
Accounts payable and related party payables	(4,330)	3,380
Operating lease liabilities	(334)	(255)
Accrued expenses and other liabilities	(893)	(107)
Cash flows used in operating activities	(8,045)	(14,025)
Cash flows from investing activities
Sales of equity investment, related party	57	178
Purchase of intangible assets	(50)
Purchases of property and equipment	(9)	(14)
Cash flows provided by (used) in investing activities	(2)	164
Cash flows from financing activities
Proceeds from issuance of series B-1 preferred stock and warrants to purchase series B-3 preferred stock, net of issuance costs	7,662
Proceeds from issuance of series B-3 from exercise of warrants	7,438
Proceeds from line of credit		5,700
Payment to extinguish line of credit	(357)
Payment of principal short-term debt	(3,660)	(4,594)
Cash flows provided by financing activities	11,083	1,106
Net increase (decrease) in cash and cash equivalents	3,036	(12,755)
Cash, cash equivalents and restricted cash, at the beginning of the period	1,543	17,408
Cash, cash equivalents and restricted cash, at the end of the period	4,579	4,653
Supplemental disclosure of cash flow information
Interest paid	1,701
Income taxes paid, net	21
Supplemental non-cash financing activities
Conversion of warrant liability to equity	$ 5,372

Organization and Business Overv

Organization and Business Overview	6 Months Ended
	Jun. 30, 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, Biofrontera Discovery GmbH (“Discovery”), formerly known as Bio-FRI GmbH, 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 ® ® ® ® ® In the United States, the PDT treatment is used for the lesion-directed and field-directed treatment of actinic keratoses of mild-to-moderate severity on the face and scalp. We are currently selling Ameluz ® Our second prescription drug licensed product is Xepi ® ® ® ® Liquidity and Going Concern Pursuant to the requirements of the Financial Accounting Standards Board’s 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 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 statements 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. Since we commenced operations in 2015, we have generated significant losses. We incurred net cash outflows from operations of $ 8.0 million and $ 14.0 million for the six months ended June 30, 2024 and 2023, respectively. The Company had an accumulated deficit as of June 30, 2024 of $ 110.3 million. The Company’s primary sources of liquidity are its cash collected from the sales of its products, and cash flows from financing transactions. As of June 30, 2024, we had cash and cash equivalents of $ 4.4 million, compared to $ 1.3 million as of December 31, 2023. These conditions and current cash flow projections raise substantial doubt about our ability to continue as a going concern for at least twelve months from the issuance date of this report. However, management believes that its plan alleviates the substantial doubt about the Company’s ability to continue as a going concern for at least one year from the date these financial statements are issued. 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 ® 5.5 million when compared to 2023. In addition, the terms of the Second A&R Ameluz LSA are expected to reduce our cost of inventory in the future (See Note 12 Related Party Transactions 2.7 The Company also has discretionary marketing, personnel, software, and other expenses budgeted in fiscal year 2024, which the Company has the ability and intent, commencing in January 2025, to reduce such spending and cash outflows by $ 5.8 Based on the plans described above, management believes that the Company will have sufficient liquidity to meet its funding requirements for at least one year from the date these financial statements are issued. However, this will depend on several factors, including executing on its sales plan and planned cost reductions within the time period needed, 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	6 Months Ended
	Jun. 30, 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 June 30, 2024, the Company’s operating results for the three and six months ended June 30, 2024 and 2023, and the Company’s cash flows for the six months ended June 30, 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. Research and Development Costs Research and development expenses include costs directly attributable to the clinical development of Ameluz ® Clinical trial costs are a significant component of our research and development expenses and include costs associated with third-party contractors. The Company outsources a substantial portion of its clinical trial activities, utilizing external entities such as Clinical Research Organizations (“CROs”), independent clinical investigators, and other third-party service providers to assist the Company with the execution of its clinical trials. We record accruals for estimated costs under these contracts. When evaluating the adequacy of the accrued liabilities, we analyze the progress of the studies or clinical trials, including the phase or completion of events, invoices received, contracted costs and purchase orders. Significant judgments and estimates are made in determining the accrued balances at the end of any reporting period based on the facts and circumstances known at that time. Although we do not expect the estimates to be materially different from the amounts actually incurred, if the estimates of the status and timing of services performed differs from the actual status and timing of services performed, we may report amounts that are too high or too low in any particular period. Actual results could differ from our estimates. If actual results in the future vary from the Company’s estimates, the Company will adjust these estimates and record any necessary adjustments in the period such variances become known. We estimate clinical trial and research agreement related expenses based on the services performed, pursuant to contracts with the CROs, independent clinical investigators, and other vendors that conduct clinical trials and research on our behalf. In accruing clinical and research related fees, we estimate the period over which services will be performed and activity expended in each period. If the actual timing of the performance of services or the level of effort varies from the estimate, we will adjust the accrual accordingly. Payments made under these arrangements in advance of the receipt of the related services are recorded as prepaid expenses until the services are rendered. 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, accrual of research and development expenses 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	6 Months Ended
	Jun. 30, 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 June 30, 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 June 30, December 31, Assets: Investment, related party 1 $ 10 $ 78 Liabilities: Warrant liability – 2022 Purchase Warrants 3 $ 72 $ 328 Warrant liability - 2022 Inducement Warrants 3 $ 90 $ 412 Warrant liability – 2023 Purchase Warrants 3 $ 759 $ 3,470 Warrant liability 3 $ 759 $ 3,470 Total Liabilities $ 921 $ 4,210 Investment, related party A s of June 30, 2024 and December 31, 2023, the Company held as an investment, 3,019 177,465 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 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 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 fair value for the Level 3 2022 Purchase Warrants, 2022 Inducement Warrants and the 2023 Purchase Warrants was estimated using a Black-Scholes-Merton (“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 three and six months ended June 30, 2024: fair value of the underlying common stock of $ 0.90 to $ 1.54 , expected volatility of 95 % to 100 %, risk free rate of 4.20 % to 4.35 %, remaining contractual term of 4.34 to 4.59 years and a dividend yield of 0 %. The expected life of the warrants is assumed to be equivalent to their remaining contractual term. The warrants to purchase 8,000 shares of Series B-3 Convertible Preferred Stock, par value $ 0.001 per share (the “2024 Preferred Warrants”), were also accounted for as liabilities, as they were redeemable in the event of a change in control, which was not solely within the control of the Company (see Note 13. Stockholders’ Equity and exercised prior to the end of the second quarter of 2024. 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 BSM model equation to determine the value of the Series B-3 convertible warrants. In scenario two, the warrant value was 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 as an input to the model. The BSM model used the following range of inputs and assumptions for the 2024 Preferred Warrants at the issuance date of February 22, 2024, for the three months ended March 31, 2024 and at the exercise date of May 13, 2024: (i) expected stock price volatility of 79.3 105 5.39 5.54 0.003 0.21 0.0 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 2024 2023 Six Months Ended June 30, 2024 2023 Fair value at beginning of period $ 4,210 $ 2,843 Issuance of new warrants 4,092 - Exercise of warrants (5,372 ) - Change in fair value of warrant liabilities (2,009 ) (1,403 ) Fair value at end of period $ 921 $ 1,440

Revenue

Revenue	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue	4. Revenue We generate revenue primarily through the sales of our licensed products Ameluz ® ® ® ® ® Related party revenue relates to an agreement with Biofrontera Bioscience for BF-RhodoLED ® 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 Government and payor rebates Total Balance at December 31, 2022 $ 48 $ 9 $ 5 $ 20 $ 82 Provision related to current period sales 3 62 3 134 202 Credit or payments made during the period - (71 ) (2 ) (59 ) (132 ) Balance at June 30, 2023 $ 51 $ - $ 6 $ 95 $ 152 Balance at December 31, 2023 $ 52 $ - $ 6 $ 54 $ 112 Balance $ 52 $ - $ 6 $ 54 $ 112 Provision related to current period sales 32 - - 112 144 Credit or payments made during the period (7 ) - (6 ) (90 ) (103 ) Balance at June 30, 2024 $ 77 $ - $ - $ 76 $ 153 Balance $ 77 $ - $ - $ 76 $ 153

Investment, Related Party

Investment, Related Party	6 Months Ended
	Jun. 30, 2024
Investments, All Other Investments [Abstract]
Investment, Related Party	5. Investment, Related Party A s of June 30, 2024 and December 31, 2023, our investments in equity securities consisted solely of 3,019 1 for 21 reverse stock split 177,465 Note 12. Related Party Transactions 0.1 0.2 Gain/(loss) on investment, related party, was comprised of the following: Schedule of Unrealized Gains and Losses on Investments in Equity Securities (in thousands) 2024 2023 2024 2023 Three Months Ended Six Months Ended (in thousands) 2024 2023 2024 2023 Net loss recognized during the period on equity securities $ (14 ) $ (1,482 ) $ (11 ) $ (4,424 ) Less: net realized loss on equity securities sold - 75 98 75 Unrealized gain (loss) recognized during the reporting period on equity securities still held at the reporting date $ (14 ) $ (1,407 $ 87 $ (4,349 )

Accounts Receivable, net

Accounts Receivable, net	6 Months Ended
	Jun. 30, 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 receivable, 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	6 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
Inventories	7. Inventories Inventories are comprised of Ameluz ® ® ® There was no 5.2 ® Note 12. Related Party Transactions ® Note: 19. Subsequent Events.

Intangible Asset, Net

Intangible Asset, Net	6 Months Ended
	Jun. 30, 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) June 30, December 31, Capitalized software $ 50 $ 15 Xepi ® $ 4,600 $ 4,600 Less: Accumulated amortization (2,202 ) (1,986 ) Intangible asset, net $ 2,448 $ 2,629 The Xepi ® 4.6 11 0.1 0.2 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	6 Months Ended
	Jun. 30, 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 June 30, 2024, approximately $ 4.0 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) June 30, December 31, Cash and cash equivalents $ 4,379 $ 1,343 Long-term restricted cash 200 200 Total cash, cash equivalents, and restricted cash shown on the consolidated statements of cash flows $ 4,579 $ 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	6 Months Ended
	Jun. 30, 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) June 30, December 31, Employee compensation and benefits 1,989 2,185 Professional fees 391 1,064 Research and development 376 - Product revenue allowances and reserves 188 149 Distribution and Storage 50 118 Legal settlement - 403 Other 599 568 Total $ 3,593 $ 4,487

Debt

Debt	6 Months Ended
	Jun. 30, 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 0.2 0.2 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 0.2 1.7 0.1 0.3 0.3 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 on each of the Loans, assuming all payments under the Loans are made on a timely basis. 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	6 Months Ended
	Jun. 30, 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 ® ® The Second A&R Ameluz LSA, among other things, amended the Ameluz LSA to: (i) update the price we pay per unit, based on certain percentages of the anticipated net selling price, (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 twenty-five (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 for which the Company assumed responsibility under the Second A&R Ameluz LSA. Purchases of the licensed products during the three and six months ended June 30, 2024 were $ 0.8 1.1 10.4 13.7 2.2 8.5 On February 9, 2024, Biofrontera was notified that the Ameluz Licensor had initiated a voluntary recall of a limited number of lots of Ameluz ® 5.2 ® Note: 1 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, 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. W $ 0.1 , which were recorded in selling, general and administrative, related party. Amounts due to Biofrontera AG related to the Services Agreement were negligible and $ 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. Due to the Second A&R Ameluz LSA, this agreement is no longer effective as of June 30, 2024. Total revenue related to the clinical lamp lease agreement was minimal for the three and six months ended June 30, 2024 and 2023, and was recorded as revenues, related party. Amounts due from Biofrontera Bioscience for clinical lamp and other reimbursements were negligible and $ 0.2 Others The Company receives expense reimbursement from Biofrontera AG and Biofrontera Bioscience on a quarterly basis for costs incurred on behalf of these entities, which are netted against expenses incurred within selling, general and administrative expenses. Total expense reimbursements were $ 0.2 0.3 0.2 0.4 The Company recorded a receivable of $ 2.8 50 he Company had 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 June 30, 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 June 30, 2024, our investment, related party was valued at a negligible amount and consisted of 3,019 as adjusted for a reverse stock split on May14, 2024) 0.1 177,465 Note 5. Investment, Related Party.

Stockholders_ Equity

Stockholders’ Equity	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Stockholders’ Equity	13. Stockholders’ Equity Under the Company’s Certificate of Second Amendment to the Amended and Restated Certificate of Incorporation (“Certificate”), effective April 25, 2024, the Company is authorized to issue 35,000,000 20,000,000 .001 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 On February 22, 2024, concurrent with the closing of the Offering, in exchange for the conversion of 1,780 2,516,785 4,806 6,793,893 Note 14. Redeemable Preferred Stock. On May 13 and 14, 2024, of the 8,000 7,998 were exercised to purchase shares of the Company’s Series B-3 Convertible Preferred stock, par value $ 0.001 per share, for net proceeds of $ 7.4 million, net of fees paid to the placement agent, while two warrants expired due to non-issuance of fractional shares. All 2024 Preferred Warrants issued in the Offering have now been exercised or expired, with 11,306,192 7,998 shares of Series B-3 Convertible Preferred Stock. Pursuant to the Preferred Purchase Agreement, the Company is entitled to appoint two independent directors designated by Rosalind Advisors, Inc to the Company’s Board. 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 0.7074 Liquidation Following the Stockholder Approval, in the event of any voluntary or involuntary liquidation, dissolution or winding up of the Company, including a change of control transaction, or Deemed Liquidation Event, as defined in the Certificate of Designation (any such event, a “ Liquidation 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. As of June 30, 2024, there were 5,094,184 shares of Common Stock outstanding. 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

Redeemable Preferred Stock

Redeemable Preferred Stock	6 Months Ended
	Jun. 30, 2024
Redeemable Preferred Stock
Redeemable Preferred Stock	14. Redeemable Preferred Stock Prior to the Stockholder Approval, Series B-1 Preferred Stock was redeemable at the option of the holder and Series B-2 and B-3 Preferred Stock were 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 was redeemable at the option of the holder, B-2 and B-3 were redeemable, upon a change in control that was not solely within control of the Company. Prior to the Stockholder Approval, the Series B Preferred Stock was considered senior to the Common Stock and all other series of the Company with respect to dividend rights and rights on the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Company. As such, the Company determined that mezzanine treatment was appropriate for the Series B Preferred Stock at issuance in February 2024 and as of March 31, 2024, and the Series B Preferred Stock was presented as such in our consolidated balance sheets and consolidated statements of changes in stockholders’ equity and mezzanine equity for periods prior to the Stockholder Approval. The Series B Preferred Stock was not considered mandatorily redeemable. Upon the Stockholder Approval, each share of Series B-1 Preferred Stock automatically converted into either Common Stock or, to the extent the conversion would cause a holder to exceed its beneficial ownership limitation, shares of Series B-2 Preferred Stock, thereby removing the redemption feature at the option of the holder (which was only present for Series B-1) and eliminating one of the requirements for classification as mezzanine equity. Following the Stockholder Approval, upon any liquidation, the assets of the Corporation available for distribution to its stockholders will 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 filed on February 20, 2024. Accordingly, the Series B Preferred stock is classified as permanent equity on our consolidated balance sheets and consolidated statements of change in stockholders’ equity as of June 30, 2024, due to the limited exception under ASC 480-10-S99-3A(3)(f).

Equity Incentive Plans and Shar

Equity Incentive Plans and Share-Based Payments	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Equity Incentive Plans and Share-Based Payments	15. 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 which the maximum contractual term is 10 3,483,010 266,990 3,750,000 3,636,788 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 and six months ended June 30, 2024. Share-based compensation expense related to stock options of approximately $ 0.2 million and $ 0.3 million was recorded in selling, general and administrative expenses, with a negligible amount recorded as research and development on the accompanying consolidated statement of operations for the three and six months ended June 30, 2024, respectively. Share-based compensation expense of $ 0.2 0.4 respectively, was recorded in selling, general and administrative expenses. Options outstanding and exercisable under the employee share option plan as of June 30, 2024, and a summary of option activity during the six 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 $ 39.26 Granted - $ - Exercised - $ - Canceled or forfeited (11,954 ) $ 11.58 Outstanding at June 30, 2024 87,532 $ 42.64 8.26 $ - Exercisable at June 30, 2024 39,809 $ 58.47 7.86 $ - (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 June 30, 2024. As of June 30, 2024, there was $ 0.6 1.51 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 for the RSUs was negligible and $ 0.1 0.1 0.2 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 (4,771 ) - $ 52.20 Canceled or forfeited - - $ - Outstanding at June 30, 2024 - - $ - As of June 30, 2024, there was no

Interest Expense, net

Interest Expense, net	6 Months Ended
	Jun. 30, 2024
Interest Expense, net	16. Interest Expense, net Interest expense, net consists of the following: Schedule of Interest Expense (in thousands) 2024 2023 2024 2023 Three Months Ended Six Months Ended (in thousands) 2024 2023 2024 2023 Interest expense $ (620 ) $ (32 ) $ (2,041 ) $ (33 ) Contract asset interest expense - (89 ) - (179 ) Interest income 24 42 38 98 Interest expense, net $ (596 ) $ (79 ) $ (2,003 ) $ (114 ) 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	6 Months Ended
	Jun. 30, 2024
Loss per common share:
Net Earnings (Loss) per Share	17. 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 and six months ended June 30, 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 2024 2023 Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Net loss $ (257 ) $ (9,837 ) $ (10,694 ) $ (17,315 ) Weighted average common shares outstanding, basic and diluted 5,091,353 1,360,739 4,357,474 1,359,894 Net loss per share, basic and diluted $ (0.05 ) $ (7.23 ) $ (2.45 ) $ (12.73 ) 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 June 30, 2024 2023 Common stock warrants 2,269,356 1,877,630 Common stock options and RSUs 87,532 106,034 Unit Purchase Options 20,182 20,182 Shares related to Series B-2 convertible preferred stock 6,793,893 - Shares related to Series B-3 convertible preferred stock 11,306,191 - Total 20,477,154 2,003,846 Anti-dilutive securities 20,477,154 2,003,846 Common Stock warrants include Purchase Warrants, Inducement Warrants and warrants issued in the Company’s initial public offering.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	18. 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 June 30, 2024 were as follows (in thousands): Schedule of Future Commitments and Sublease Income Years ending December 31, Future lease commitments Remainder of 2024 $ 382 2025 582 2026 238 2027 31 Thereafter - Total future minimum lease payments $ 1,233 Less imputed interest (89 ) Total lease liability $ 1,144 Schedule of Operating Lease Liability Reported as: Operating lease liability, current $ 701 Operating lease liability, non-current 443 Total $ 1,144 Ameluz LSA Sales Commitment The term shall renew automatically for a period of five years, in perpetuity, so long as we have earned revenues from Ameluz product and lamps equal to or greater than $ 150 If we fail to earn $ 150 Ameluz ® he RhodoLED ® L s 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 ® ® Ameluz ® 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 and six months ended June 30, 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 ® Research and Development Arrangements In the course of normal business operations, the Company enters into agreements with contract research organizations (“CROs”) to assist in the performance of research and development activities. Expenditures to CROs represent a significant cost in clinical development for the Company. The Company may be obligated to make future payments should certain developments be achieved. Costs for certain research and development activities are recognized based on the terms of the individual arrangements, which may differ from the timing of receipt of invoices and payment of invoices and are reflected in the financial statements as a prepaid or accrued expense. The Company could also enter into additional contract research agreements in the future, which may require upfront payments and long-term commitments of cash. 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 Claims On September 13, 2023, Biofrontera was served with a complaint filed by DUSA Pharmaceuticals, Inc., Sun Pharmaceutical Industries, Inc. (“Sun”), and Sun Pharmaceutical Industries LTD 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 ® On June 26, 2024 and June 27, 2024, Sun filed two additional complaints against Biofrontera, Biofrontera AG, Biofrontera Pharma, and Biofrontera Bioscience with the United States District Court for the District of Massachusetts and the International Trade Commission, respectively, both alleging infringement of two patents held by Sun. The Company denies these 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	6 Months Ended
	Jun. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	19. Subsequent Events We have completed an evaluation of subsequent events after the balance sheet date of June 30, 2024 through the date this Quarterly Report on Form 10-Q was submitted to the SEC, and determined that the following material subsequent event required disclosure. As of July 23, 2024, we have received the full amount of replacement inventory for the recalled Ameluz® (See Note 12 Related Party Transactions

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 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 June 30, 2024, the Company’s operating results for the three and six months ended June 30, 2024 and 2023, and the Company’s cash flows for the six months ended June 30, 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.
Research and Development Costs	Research and Development Costs Research and development expenses include costs directly attributable to the clinical development of Ameluz ® Clinical trial costs are a significant component of our research and development expenses and include costs associated with third-party contractors. The Company outsources a substantial portion of its clinical trial activities, utilizing external entities such as Clinical Research Organizations (“CROs”), independent clinical investigators, and other third-party service providers to assist the Company with the execution of its clinical trials. We record accruals for estimated costs under these contracts. When evaluating the adequacy of the accrued liabilities, we analyze the progress of the studies or clinical trials, including the phase or completion of events, invoices received, contracted costs and purchase orders. Significant judgments and estimates are made in determining the accrued balances at the end of any reporting period based on the facts and circumstances known at that time. Although we do not expect the estimates to be materially different from the amounts actually incurred, if the estimates of the status and timing of services performed differs from the actual status and timing of services performed, we may report amounts that are too high or too low in any particular period. Actual results could differ from our estimates. If actual results in the future vary from the Company’s estimates, the Company will adjust these estimates and record any necessary adjustments in the period such variances become known. We estimate clinical trial and research agreement related expenses based on the services performed, pursuant to contracts with the CROs, independent clinical investigators, and other vendors that conduct clinical trials and research on our behalf. In accruing clinical and research related fees, we estimate the period over which services will be performed and activity expended in each period. If the actual timing of the performance of services or the level of effort varies from the estimate, we will adjust the accrual accordingly. Payments made under these arrangements in advance of the receipt of the related services are recorded as prepaid expenses until the services are rendered.
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, accrual of research and development expenses 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)	6 Months Ended
	Jun. 30, 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 June 30, 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 June 30, December 31, Assets: Investment, related party 1 $ 10 $ 78 Liabilities: Warrant liability – 2022 Purchase Warrants 3 $ 72 $ 328 Warrant liability - 2022 Inducement Warrants 3 $ 90 $ 412 Warrant liability – 2023 Purchase Warrants 3 $ 759 $ 3,470 Warrant liability 3 $ 759 $ 3,470 Total Liabilities $ 921 $ 4,210
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 2024 2023 Six Months Ended June 30, 2024 2023 Fair value at beginning of period $ 4,210 $ 2,843 Issuance of new warrants 4,092 - Exercise of warrants (5,372 ) - Change in fair value of warrant liabilities (2,009 ) (1,403 ) Fair value at end of period $ 921 $ 1,440

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [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 Government and payor rebates Total Balance at December 31, 2022 $ 48 $ 9 $ 5 $ 20 $ 82 Provision related to current period sales 3 62 3 134 202 Credit or payments made during the period - (71 ) (2 ) (59 ) (132 ) Balance at June 30, 2023 $ 51 $ - $ 6 $ 95 $ 152 Balance at December 31, 2023 $ 52 $ - $ 6 $ 54 $ 112 Balance $ 52 $ - $ 6 $ 54 $ 112 Provision related to current period sales 32 - - 112 144 Credit or payments made during the period (7 ) - (6 ) (90 ) (103 ) Balance at June 30, 2024 $ 77 $ - $ - $ 76 $ 153 Balance $ 77 $ - $ - $ 76 $ 153

Investment, Related Party (Tabl

Investment, Related Party (Tables)	6 Months Ended
	Jun. 30, 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 (in thousands) 2024 2023 2024 2023 Three Months Ended Six Months Ended (in thousands) 2024 2023 2024 2023 Net loss recognized during the period on equity securities $ (14 ) $ (1,482 ) $ (11 ) $ (4,424 ) Less: net realized loss on equity securities sold - 75 98 75 Unrealized gain (loss) recognized during the reporting period on equity securities still held at the reporting date $ (14 ) $ (1,407 $ 87 $ (4,349 )

Intangible Asset, Net (Tables)

Intangible Asset, Net (Tables)	6 Months Ended
	Jun. 30, 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) June 30, December 31, Capitalized software $ 50 $ 15 Xepi ® $ 4,600 $ 4,600 Less: Accumulated amortization (2,202 ) (1,986 ) Intangible asset, net $ 2,448 $ 2,629

Cash Balances and Statement o_2

Cash Balances and Statement of Cash Flows Reconciliation (Tables)	6 Months Ended
	Jun. 30, 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) June 30, December 31, Cash and cash equivalents $ 4,379 $ 1,343 Long-term restricted cash 200 200 Total cash, cash equivalents, and restricted cash shown on the consolidated statements of cash flows $ 4,579 $ 1,543

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	6 Months Ended
	Jun. 30, 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) June 30, December 31, Employee compensation and benefits 1,989 2,185 Professional fees 391 1,064 Research and development 376 - Product revenue allowances and reserves 188 149 Distribution and Storage 50 118 Legal settlement - 403 Other 599 568 Total $ 3,593 $ 4,487

Equity Incentive Plans and Sh_2

Equity Incentive Plans and Share-Based Payments (Tables)	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Stock Option Activity	Options outstanding and exercisable under the employee share option plan as of June 30, 2024, and a summary of option activity during the six 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 $ 39.26 Granted - $ - Exercised - $ - Canceled or forfeited (11,954 ) $ 11.58 Outstanding at June 30, 2024 87,532 $ 42.64 8.26 $ - Exercisable at June 30, 2024 39,809 $ 58.47 7.86 $ - (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 June 30, 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 (4,771 ) - $ 52.20 Canceled or forfeited - - $ - Outstanding at June 30, 2024 - - $ -

Interest Expense, net (Tables)

Interest Expense, net (Tables)	6 Months Ended
	Jun. 30, 2024
Schedule of Interest Expense	Interest expense, net consists of the following: Schedule of Interest Expense (in thousands) 2024 2023 2024 2023 Three Months Ended Six Months Ended (in thousands) 2024 2023 2024 2023 Interest expense $ (620 ) $ (32 ) $ (2,041 ) $ (33 ) Contract asset interest expense - (89 ) - (179 ) Interest income 24 42 38 98 Interest expense, net $ (596 ) $ (79 ) $ (2,003 ) $ (114 )

Net Earnings (Loss) per Share (

Net Earnings (Loss) per Share (Tables)	6 Months Ended
	Jun. 30, 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 2024 2023 Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Net loss $ (257 ) $ (9,837 ) $ (10,694 ) $ (17,315 ) Weighted average common shares outstanding, basic and diluted 5,091,353 1,360,739 4,357,474 1,359,894 Net loss per share, basic and diluted $ (0.05 ) $ (7.23 ) $ (2.45 ) $ (12.73 )
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 June 30, 2024 2023 Common stock warrants 2,269,356 1,877,630 Common stock options and RSUs 87,532 106,034 Unit Purchase Options 20,182 20,182 Shares related to Series B-2 convertible preferred stock 6,793,893 - Shares related to Series B-3 convertible preferred stock 11,306,191 - Total 20,477,154 2,003,846 Anti-dilutive securities 20,477,154 2,003,846

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Commitments and Sublease Income	Future lease payments under non-cancelable leases as of June 30, 2024 were as follows (in thousands): Schedule of Future Commitments and Sublease Income Years ending December 31, Future lease commitments Remainder of 2024 $ 382 2025 582 2026 238 2027 31 Thereafter - Total future minimum lease payments $ 1,233 Less imputed interest (89 ) Total lease liability $ 1,144
Schedule of Operating Lease Liability	Schedule of Operating Lease Liability Reported as: Operating lease liability, current $ 701 Operating lease liability, non-current 443 Total $ 1,144

Organization and Business Ove_2

Organization and Business Overview (Details Narrative) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
	Feb. 19, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Net Cash Provided by (Used in) Operating Activities				$ 8,045	$ 14,025
Retained Earnings (Accumulated Deficit)		$ 110,344		110,344		$ 99,650
Cash and Cash Equivalents, at Carrying Value		4,379		4,379		$ 1,343
Discretionary expenses				5,500
Research and development cost		621	$ 11	637	$ 11
Decrease on cash flow spending		$ 5,800		$ 5,800
Second Amended And Restated License And Supply Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Research and development cost	$ 2,700

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details Narrative) - $ / shares	May 14, 2024	Jul. 03, 2023	Jun. 30, 2024	Apr. 25, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
Reverse stock split	1 for 21 reverse stock split	1-for-20
Common stock, par value		$ 0.001	$ 0.001	$ 0.001	$ 0.001

Schedule of Fair Value Hierarch

Schedule of Fair Value Hierarchy Valuation Inputs (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Liabilities	$ 921	$ 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	10	78
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Liabilities	921	4,210	$ 1,440	$ 2,843
Fair Value, Inputs, Level 3 [Member] | 2022 Purchase Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Liabilities	72	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	90	412
Fair Value, Inputs, Level 3 [Member] | 2023 Purchase Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Liabilities	$ 759	$ 3,470

Schedule of Changes in Fair Val

Schedule of Changes in Fair Value Warrant Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 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	$ (5,438)	$ (375)	(2,009)	$ (1,403)
Fair value at end of period	921		921
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			(5,372)
Change in fair value of warrant liabilities			(2,009)	(1,403)
Fair value at end of period	$ 921	$ 1,440	$ 921	$ 1,440

Fair Value Measurements (Detail

Fair Value Measurements (Details Narrative)	6 Months Ended	12 Months Ended
	Jun. 30, 2024 $ / shares shares	Dec. 31, 2023 shares	Feb. 19, 2024 $ / shares shares	Nov. 02, 2023 $ / shares shares	Nov. 02, 2022 $ / shares	Jul. 26, 2022 shares	May 16, 2022 shares
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investment in equity securities, shares | shares	3,019	177,465
Series B-3 Preferred Stock [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Class of warrant or right, number of securities called by warrants or rights | shares			8,000
Preferred Stock, Par or Stated Value Per Share			$ 0.001
Fair Value, Inputs, Level 3 [Member] | Measurement Input, Share Price [Member] | 2023 Purchase Warrants [Member] | Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Share Price	$ 0.90
Fair Value, Inputs, Level 3 [Member] | Measurement Input, Share Price [Member] | 2023 Purchase Warrants [Member] | Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Share Price	$ 1.54
Fair Value, Inputs, Level 3 [Member] | Measurement Input, Option Volatility [Member] | 2023 Purchase Warrants [Member] | Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant outstanding, measurement input	95
Fair Value, Inputs, Level 3 [Member] | Measurement Input, Option Volatility [Member] | 2023 Purchase Warrants [Member] | Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant outstanding, measurement input	100
Fair Value, Inputs, Level 3 [Member] | Measurement Input, Option Volatility [Member] | 2024 Preferred Warrants [Member] | Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant outstanding, measurement input	79.3
Fair Value, Inputs, Level 3 [Member] | Measurement Input, Option Volatility [Member] | 2024 Preferred Warrants [Member] | Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant outstanding, measurement input	105
Fair Value, Inputs, Level 3 [Member] | Measurement Input, Risk Free Interest Rate [Member] | 2023 Purchase Warrants [Member] | Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant outstanding, measurement input	4.20
Fair Value, Inputs, Level 3 [Member] | Measurement Input, Risk Free Interest Rate [Member] | 2023 Purchase Warrants [Member] | Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant outstanding, measurement input	4.35
Fair Value, Inputs, Level 3 [Member] | Measurement Input, Risk Free Interest Rate [Member] | 2024 Preferred Warrants [Member] | Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant outstanding, measurement input	5.39
Fair Value, Inputs, Level 3 [Member] | Measurement Input, Risk Free Interest Rate [Member] | 2024 Preferred Warrants [Member] | Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant outstanding, measurement input	5.54
Fair Value, Inputs, Level 3 [Member] | Measurement Input, Expected Term [Member] | 2023 Purchase Warrants [Member] | Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expiration term (in years)	4 years 4 months 2 days
Fair Value, Inputs, Level 3 [Member] | Measurement Input, Expected Term [Member] | 2023 Purchase Warrants [Member] | Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expiration term (in years)	4 years 7 months 2 days
Fair Value, Inputs, Level 3 [Member] | Measurement Input, Expected Term [Member] | 2024 Preferred Warrants [Member] | Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expiration term (in years)	1 day
Fair Value, Inputs, Level 3 [Member] | Measurement Input, Expected Term [Member] | 2024 Preferred Warrants [Member] | Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expiration term (in years)	2 months 15 days
Fair Value, Inputs, Level 3 [Member] | Measurement Input, Expected Dividend Payment [Member] | 2023 Purchase Warrants [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant outstanding, measurement input	0
Fair Value, Inputs, Level 3 [Member] | Measurement Input, Expected Dividend Payment [Member] | 2024 Preferred Warrants [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrant outstanding, measurement input	0
Fair Value, Inputs, Level 3 [Member] | 2022 Purchase Warrants [Member]
Fair Value Measurement Inputs and Valuation Techniques [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 Measurement Inputs and Valuation Techniques [Line Items]
Class of warrant or right, number of securities called by warrants or rights | shares						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 Measurement Inputs and Valuation Techniques [Line Items]
Class of warrant or right, number of securities called by warrants or rights | shares				1,807,500
Class of warrant or right, exercise price of warrants or rights				$ 3.55
Expiration term (in years)				5 years
Fair Value, Inputs, Level 3 [Member] | Private Placement [Member] | 2022 Purchase Warrants [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Class of warrant or right, number of securities called by warrants or rights | shares							170,950

Schedule of Revenue Allowance a

Schedule of Revenue Allowance and Accrual Activities (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Balance	$ 112	$ 82
Provision related to current period sales	144	202
Credit or payments made during the period	(103)	(132)
Balance	153	152
Returns [Member]
Disaggregation of Revenue [Line Items]
Balance	52	48
Provision related to current period sales	32	3
Credit or payments made during the period	(7)
Balance	77	51
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	(6)	(2)
Balance		6
Government and Payor Rebates [Member]
Disaggregation of Revenue [Line Items]
Balance	54	20
Provision related to current period sales	112	134
Credit or payments made during the period	(90)	(59)
Balance	$ 76	$ 95

Schedule of Unrealized Gains an

Schedule of Unrealized Gains and Losses on Investments in Equity Securities (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Investments, All Other Investments [Abstract]
Net loss recognized during the period on equity securities	$ (14)	$ (1,482)	$ (11)	$ (4,424)
Less: net realized loss on equity securities sold		75	98	75
Unrealized gain (loss) recognized during the reporting period on equity securities still held at the reporting date	$ (14)	$ (1,407)	$ 87	$ (4,349)

Investment, Related Party (Deta

Investment, Related Party (Details Narrative) - USD ($) $ in Thousands			6 Months Ended
	May 14, 2024	Jul. 03, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]
Reverse stock split	1 for 21 reverse stock split	1-for-20
Proceeds from sale of equity securities			$ 57	$ 178
Biofrontera AG [Member]
Defined Benefit Plan Disclosure [Line Items]
Investment in equity securities, shares			3,019		177,465

Accounts Receivable, net (Detai

Accounts Receivable, net (Details Narrative) - USD ($) $ in Millions	Jun. 30, 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		6 Months Ended	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2023	Dec. 31, 2023
Ameluz [Member]
Inventory [Line Items]
Inventory write down	$ 0	$ 0	$ 0	$ 5.2

Schedule of Intangible Asset Ne

Schedule of Intangible Asset Net (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Capitalized software	$ 50	$ 15
Xepi® license	4,600	4,600
Less: Accumulated amortization	(2,202)	(1,986)
Intangible asset, net	$ 2,448	$ 2,629

Intangible Asset, Net (Details

Intangible Asset, Net (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Xepi license fair value	$ 4,600		$ 4,600		$ 4,600
Xepi license useful life	11 years		11 years
Amortization expense	$ 100	$ 100	$ 216	$ 209

Schedule of Reconciliation of C

Schedule of Reconciliation of Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 4,379	$ 1,343
Long-term restricted cash	200	200
Total cash, cash equivalents, and restricted cash shown on the consolidated statements of cash flows	$ 4,579	$ 1,543

Cash Balances and Statement o_3

Cash Balances and Statement of Cash Flows Reconciliation (Details Narrative) $ in Millions	Jun. 30, 2024 USD ($)
Cash and Cash Equivalents [Abstract]
FDIC, excess amount	$ 4

Schedule of Accrued Expenses an

Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Payables and Accruals [Abstract]
Employee compensation and benefits	$ 1,989	$ 2,185
Professional fees	391	1,064
Research and development	376
Product revenue allowances and reserves	188	149
Distribution and Storage	50	118
Legal settlement		403
Other	599	568
Total	$ 3,593	$ 4,487

Debt (Details Narrative)

Debt (Details Narrative) - USD ($)			3 Months Ended		6 Months Ended
	Jan. 04, 2024	Dec. 21, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Line of Credit Facility [Line Items]
Repayment of line of credit, principal					$ 357,000
Interest expense			$ 620,000	$ 32,000	2,041,000	$ 33,000
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, Borrowings					880,000
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			200,000		1,700,000
Discount amortization			100,000		300,000
Principal outstanding amount			300,000		300,000
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			200,000		1,700,000
Discount amortization			100,000		300,000
Principal outstanding amount			$ 300,000		$ 300,000

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)		3 Months Ended		6 Months Ended		12 Months Ended
	Feb. 19, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Feb. 29, 2024
Related Party Transaction [Line Items]
Amount due from Bioscience		$ 3,504,000		$ 3,504,000		$ 5,162,000
Legal settlements receivable percentage						50%
Investment in equity securities, shares				3,019		177,465
Biofrontera AG [Member]
Related Party Transaction [Line Items]
Legel settlement						$ 2,800,000	$ 2,800,000
Investment in equity securities, shares		3,019		3,019		177,465
Biofrontera Pharma GmbH [Member]
Related Party Transaction [Line Items]
Interest income		$ 0	$ 0	$ 0	$ 0
Biofrontera AG and Biofrontera Bioscience [Member]
Related Party Transaction [Line Items]
Reimbursements expense		200,000	200,000	300,000	400,000
License and Supply Agreement [Member]
Related Party Transaction [Line Items]
Related party costs		800,000	10,400,000	1,100,000	13,700,000
Accounts payable related parties		2,200,000		2,200,000		$ 8,500,000
Service Agreements [Member] | Biofrontera AG [Member]
Related Party Transaction [Line Items]
Accounts payable related parties		100,000		100,000		100,000
Expenses related to service			$ 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
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%

Stockholders_ Equity (Details N

Stockholders’ Equity (Details Narrative) - USD ($) $ / shares in Units, $ in Millions							6 Months Ended
	May 14, 2024	May 13, 2024	Feb. 22, 2024	Feb. 19, 2024	Feb. 02, 2024	Jan. 08, 2024	Jun. 30, 2024	Apr. 25, 2024	Feb. 20, 2024	Dec. 31, 2023	Jul. 03, 2023
Class of Stock [Line Items]
Common stock shares, authorized							35,000,000	35,000,000		35,000,000
Preferred stock shares, authorized								20,000,000
Common stock, par value							$ 0.001	$ 0.001		$ 0.001	$ 0.001
Stock option exercised
Common Stock [Member]
Class of Stock [Line Items]
Number of shares issued for conversion			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 B-1 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
Number of shares converted			1,780
Preferred stock, shares outstanding							0			0
Authorized and unissued preferred stock									6,586
Series B-3 Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock par or stated value per share				$ 0.001
Number of warrants purchase				8,000
Proceeds from issuance of private placement				$ 8
Preferred stock convertible conversion price				$ 0.125
Preferred stock convertible shares issuable				11,309,019
Preferred stock, shares outstanding							7,998			0
Authorized and unissued preferred stock									8,000
Convertible preferred stock par value									$ 0.001
Series B Preferred Stock [Member]
Class of Stock [Line Items]
Proceeds from issuance of private placement				$ 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
Series B2 Convertiable Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares outstanding			6,793,893
2024 Preferred Warrants [Member]
Class of Stock [Line Items]
Number of warrants purchase	8,000	8,000
Series B-3 Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Number of warrants purchase	7,998	7,998
Preferred stock, shares outstanding							7,998
Warrant preferred warrants, par value	$ 0.001	$ 0.001
Proceeds from warrant exercises	$ 7.4	$ 7.4
Stock issued during period, shares, new issues							11,306,192
Series B2 Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares outstanding							4,806			0
Authorized and unissued preferred stock									6,586

Schedule of Stock Option Activi

Schedule of Stock Option Activity (Details)	6 Months Ended
	Jun. 30, 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	$ 39.26
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	(11,954)
Weighted Average Exercise Price, Canceled or forfeited | $ / shares	$ 11.58
Number of Shares Outstanding, Ending Balance | shares	87,532
Weighted Average Exercise Price, Ending Balance | $ / shares	$ 42.64
Weighted Average Remaining Contractual Life (in Years), Outstanding	8 years 3 months 3 days
Aggregate Intrinsic Value, Outstanding, Balance | $		[1]
Number of Shares Execisable, Ending Balance | shares	39,809
Weighted Average Exercise Price Options Exercisable, Ending Balance | $ / shares	$ 58.47
Weighted Average Remaining Contractual Life (in Years), Exercisable	7 years 10 months 9 days
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 June 30, 2024.

Schedule of Restricted Stock Un

Schedule of Restricted Stock Units (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of shares outstanding, beginning balance	4,771
Weighted average remaining contractual life (in years) outstanding, balance
Number of shares weighted average grant date fair value, beginning balance	$ 52.20
Number of shares outstanding, Awarded
Number of shares weighted average grant date fair value, Awarded
Number of shares outstanding, Vested	(4,771)
Number of shares weighted average grant date fair value,Vested	$ 52.20
Number of shares outstanding, canceled or forfeited
Number of shares weighted average grant date fair value, canceled or forfeited
Number of shares outstanding, ending balance		4,771
Number of shares weighted average grant date fair value, outstanding ending balance		$ 52.20

Equity Incentive Plans and Sh_3

Equity Incentive Plans and Share-Based Payments (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2021	Jun. 12, 2024	Jun. 11, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized compensation cost	$ 600,000		$ 600,000
Compensation cost recognized, weighted average period			1 year 6 months 3 days
Unrecognized compensation cost	0		$ 0
Selling, General and Administrative Expenses [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share based compensation expenses	200,000	$ 200,000	300,000	$ 400,000
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	$ 100,000	$ 100,000	$ 100,000	$ 200,000
2021 Omnibus Incentive Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Maximum contractual term					10 years
Number of shares reserved and authorized for awards					3,483,010	3,750,000	266,990
Shares available for future grant	3,636,788		3,636,788

Schedule of Interest Expense (D

Schedule of Interest Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Interest expense	$ (620)	$ (32)	$ (2,041)	$ (33)
Contract asset interest expense		(89)		(179)
Interest income	24	42	38	98
Interest expense, net	$ (596)	$ (79)	$ (2,003)	$ (114)

Interest Expense, net (Details

Interest Expense, net (Details Narrative) - Maruho Co, Ltd. [Member] - Share Purchase Agreement [Member] $ in Millions	6 Months Ended
	Jun. 30, 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		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Loss per common share:
Net loss	$ (257)	$ (9,837)	$ (10,694)	$ (17,315)
Weighted average common shares outstanding, basic	5,091,353	1,360,739	4,357,474	1,359,894
Weighted average common shares outstanding, diluted	5,091,353	1,360,739	4,357,474	1,359,894
Net loss per share, basic	$ (0.05)	$ (7.23)	$ (2.45)	$ (12.73)
Net loss per share, diluted	$ (0.05)	$ (7.23)	$ (2.45)	$ (12.73)

Schedule of Anti-dilutive Secur

Schedule of Anti-dilutive Securities Excluded from Computation of Earnings per Share (Details) - shares	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities	20,477,154	2,003,846
Common Stock Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities	2,269,356	1,877,630
Common Stock Options and Restricted Stock Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities	87,532	106,034
Unit Purchase Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities	20,182	20,182
Series B2 Convertiable Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities	6,793,893
Series B-3 Convertible Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities	11,306,191

Schedule of Future Commitments

Schedule of Future Commitments and Sublease Income (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Remainder of 2024	$ 382
2025	582
2026	238
2027	31
Thereafter
Total future minimum lease payments	1,233
Less imputed interest	(89)
Total lease liability	$ 1,144

Schedule of Operating Lease Lia

Schedule of Operating Lease Liability (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Operating lease liability, current	$ 701	$ 691
Operating lease liability, non-current	443	$ 804
Total lease liability	$ 1,144

Commitments and Contingencies_2

Commitments and Contingencies (Details Narrative) - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 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 LSA [Member]
Product Liability Contingency [Line Items]
Contractual obligation	2,000,000	$ 4,000,000
Xepi LSA [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