H.C. Wainwright has assumed coverage on Inflarx NV (NASDAQ:IFRX) with a Buy rating and a $6.00 price target, according to a research note released Tuesday.
The firm highlighted Inflarx’s lead assets vilobelimab and INF904. Vilobelimab is an intravenously administered anti-C5a monoclonal antibody, while INF904 is an oral small molecule inhibitor of C5aR.
Vilobelimab, marketed as GOHIBIC, has received approval in the European Union under exceptional circumstances for treating SARS-CoV-2-induced ARDS patients on systemic corticosteroids and invasive mechanical ventilation with or without extracorporeal membrane oxygenation.
In the United States, GOHIBIC has not received full approval but has been authorized for emergency use by the FDA for COVID-19 treatment in hospitalized adults when started within 48 hours of receiving invasive mechanical ventilation or ECMO.
INF904 has completed Phase 1 single ascending dose/multiple ascending dose studies and is currently in a Phase 2a basket study evaluating its efficacy in chronic spontaneous urticaria and hidradenitis suppurativa.
In other recent news, InflaRx N.V. has announced that it received a written notice from Nasdaq regarding its share price. The notice indicates that the company’s share price has fallen below the minimum $1.00 per share requirement necessary for continued listing. This development is based on the company’s common shares closing below this threshold for the last 30 consecutive business days. The notice was dated July 11, highlighting a violation of Nasdaq Listing Rule 5450(a)(1). While the company has not provided further details on its response to this notice, the announcement underscores a significant regulatory requirement that InflaRx needs to address. Investors are likely to monitor how the company plans to comply with Nasdaq’s listing standards. This situation is part of the ongoing developments surrounding InflaRx’s market performance.
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