BFRI - Biofrontera Palatin surge amid social media chatter

Biofrontera (NASDAQ:BFRI) and Palatin Technologies (NYSE:PTN) have gained ~30.9% and ~36.5%, respectively, in the pre-market as the two biopharma companies have become the latest to spark investor interest on social media platforms. About 2.9M and 4.4M shares of Biofrontera (BFRI) and Palatin (PTN) have changed hands so far compared to their 65-day averages of ~17.2M and ~3.5M, respectively. Both stocks defied the market selloff on Friday when the emergence of a new COVID-19 variant from South Africa spooked investors. Biofrontera (BFRI), focused on therapeutics for dermatological conditions, went public about a month ago, targeting $18M in gross proceeds. Meanwhile, Palatin (PTN) exceeded Street expectations with its recent financials for the first quarter of fiscal 2022. Earlier today, 180 Life Sciences (NASDAQ:ATNF) and Vaxart (NASDAQ:VXRT) also made sizable gains in the pre-market amid social media interest.

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Biofrontera, Palatin surge amid social media chatter