Inflarx Stock Price, News & Analysis

InflaRx N.V. (Nasdaq: IFRX) is a clinical-stage biopharmaceutical company focused on anti-inflammatory therapeutics that target the complement system, specifically the complement activation factor C5a and its receptor, C5aR. According to company disclosures, C5a is described as a powerful inflammatory mediator involved in the progression of a wide variety of inflammatory diseases. InflaRx applies proprietary anti-C5a and anti-C5aR technologies to discover, develop and commercialize highly potent and specific inhibitors of this pathway.

InflaRx was founded in 2007. The group reports offices and subsidiaries in Jena and Munich, Germany, as well as Ann Arbor, Michigan, USA. InflaRx GmbH (Germany) and InflaRx Pharmaceuticals Inc. (USA) are wholly owned subsidiaries of InflaRx N.V. The company’s ordinary shares trade on Nasdaq under the ticker symbol IFRX.

Therapeutic focus and technology platform

InflaRx states that it is pioneering anti-inflammatory therapeutics by targeting C5a and C5aR. Its programs are designed to inhibit C5a-induced signaling while leaving the formation of the membrane attack complex (C5b-9) intact as part of the innate immune defense. The company highlights its proprietary anti-C5a monoclonal antibody technology and small-molecule C5a receptor inhibition as the core of its research and development efforts.

The company’s disclosures describe two main product candidates within this complement-focused platform: vilobelimab, an intravenously delivered monoclonal antibody against C5a, and izicopan (also referenced as INF904), an orally administered small molecule inhibitor of C5a-induced signaling via the C5a receptor. Both programs are positioned by InflaRx as highly specific inhibitors of the C5a/C5aR axis.

Izicopan (INF904): oral C5aR inhibitor

InflaRx describes izicopan (INF904) as an orally administered, small molecule inhibitor of the C5a receptor (C5aR1) that has shown anti-inflammatory therapeutic effects in several pre-clinical disease models and in human studies. Company materials report that pharmacokinetic and pharmacodynamic data support what InflaRx characterizes as best-in-class potential, with a high degree of blockade of C5a-induced neutrophil activation over a multi-day dosing period.

According to InflaRx, izicopan has been evaluated in a first-in-human study and in a Phase 2a basket study in patients with hidradenitis suppurativa (HS) and chronic spontaneous urticaria (CSU). The company reports that in these studies, izicopan was well tolerated and that no safety signals of concern were observed across the dosing ranges studied. InflaRx also reports that Phase 2a data in HS showed rapid and clinically meaningful reductions in abscesses and nodules and draining tunnels, improvements in HS clinical response measures, and reductions in patient-reported pain scores over a four-week treatment period, with responses that continued to deepen during a subsequent off-treatment observation period.

In CSU, InflaRx reports that Phase 2a data showed substantial reductions in the 7-day Urticaria Activity Score (UAS7), particularly in patients with severe disease at baseline, as well as improved disease control as measured by the Urticaria Control Test (UCT7). The company states that the level of activity observed in its analyses exceeded average historically reported placebo levels and was generally within the range of existing approved CSU therapies, while emphasizing that these comparisons are based on separate studies and are not derived from head-to-head trials.

Company communications describe izicopan as having characteristics that support its exploration across multiple inflammation and immunology (I&I) indications, including HS and CSU, and refer to it as a potential “pipeline-in-a-product” within the C5aR inhibitor class.

Vilobelimab and GOHIBIC (vilobelimab)

InflaRx reports that it has developed vilobelimab, a novel, intravenously delivered, first-in-class anti-C5a monoclonal antibody. The antibody is described as selectively binding to free C5a and effectively blocking its biological activity, while leaving formation of the membrane attack complex intact. Company disclosures state that vilobelimab has demonstrated disease-modifying clinical activity and tolerability in multiple clinical studies.

InflaRx also refers to GOHIBIC (vilobelimab) in its communications. The company reports that GOHIBIC (vilobelimab) is approved in the European Union under exceptional circumstances for the treatment of adults with SARS-CoV-2-induced acute respiratory distress syndrome (ARDS) who are receiving systemic corticosteroids as part of standard of care and receiving invasive mechanical ventilation with or without extracorporeal membrane oxygenation. InflaRx further notes that GOHIBIC (vilobelimab) is the first treatment approved in the EU for SARS-CoV-2-induced ARDS under these conditions.

Beyond ARDS, InflaRx has reported clinical development of vilobelimab in other indications. Company updates describe a Phase 3 trial in pyoderma gangrenosum (PG) that was stopped early for futility with respect to its prespecified primary endpoint, followed by post-hoc analyses that, according to the company, suggested signals of efficacy in ulcer volume reduction and related measures. InflaRx has indicated that it anticipates discussions with the U.S. Food and Drug Administration (FDA) regarding a potential development path forward in PG, and that any further development in this indication would likely be pursued in collaboration with a partner.

Strategic focus and pipeline prioritization

In recent communications, InflaRx has outlined a strategy focused on what it characterizes as capital-efficient execution and near-term value creation centered on izicopan. The company has announced that it intends to prioritize izicopan as its leading pipeline asset, with a goal of progressing toward Phase 2b readiness in hidradenitis suppurativa and broadening signal-finding activities in additional inflammation and immunology indications.

To support this focus, InflaRx has reported measures to reduce spending and streamline its organizational structure, including a workforce reduction and substantial reductions in commercial spending related to GOHIBIC (vilobelimab). The company states that it plans to maintain the operational capability needed to support ongoing clinical work, including a BARDA-funded Phase 2 platform study in ARDS, and to keep GOHIBIC (vilobelimab) available for ordering in the United States under its emergency use authorization on what it describes as a reactive basis.

InflaRx also reports that it is engaged in ongoing discussions with potential collaborators to support development of izicopan across HS, CSU and other I&I indications, and that it continues to evaluate partnering opportunities for vilobelimab and GOHIBIC in various geographies. The company has additionally highlighted a co-development agreement in China under which a partner is developing an anti-C5a antibody (BDB-001) based on the vilobelimab cell line, with InflaRx entitled to receive royalties on net sales of products containing BDB-001.

Regulatory and listing status

InflaRx files reports with the U.S. Securities and Exchange Commission as a foreign private issuer on Form 20-F and Form 6-K. The company’s SEC filings include financial statements, management’s discussion and analysis of financial condition and results of operations, and updates on clinical and corporate developments.

In 2025, InflaRx reported that it had received a notice from Nasdaq regarding non-compliance with the minimum bid price requirement and an associated compliance period. The company later disclosed that it had received written notice from Nasdaq indicating that it had regained compliance with the minimum bid price requirement after its ordinary shares closed at or above the required threshold for the specified number of consecutive business days. These notices, as described in the company’s Form 6-K filings, did not have an immediate effect on the listing or trading of the company’s ordinary shares.

Geographic footprint and corporate structure

InflaRx describes itself as having offices and subsidiaries in Germany and the United States. The group’s presence includes Jena and Munich in Germany and Ann Arbor in the United States. InflaRx GmbH and InflaRx Pharmaceuticals Inc. are identified as wholly owned subsidiaries of InflaRx N.V. This structure supports the company’s research, development and corporate activities related to its complement-focused biopharmaceutical programs.

Business model characteristics

Based on its public disclosures, InflaRx operates as a clinical-stage biopharmaceutical company. Its activities are centered on the discovery, development and potential commercialization of therapies that inhibit C5a and C5aR in inflammatory and autoimmune conditions. The company’s revenue disclosures indicate that, to date, revenues have been primarily related to GOHIBIC (vilobelimab) sales, while a substantial portion of expenses relates to research and development, sales and marketing, and general and administrative activities associated with its pipeline and commercial efforts.

InflaRx’s communications emphasize continued investment in clinical trials for izicopan and vilobelimab, regulatory interactions, and potential collaborations or partnerships to advance its programs and, where applicable, to support commercialization in selected markets.

Key programs and indications mentioned by the company

• Izicopan (INF904): Oral C5aR inhibitor under development, with Phase 2a data reported in hidradenitis suppurativa and chronic spontaneous urticaria and plans described by the company to progress toward Phase 2b development in HS and further exploration in CSU and other I&I indications.
• Vilobelimab / GOHIBIC (vilobelimab): Intravenous anti-C5a monoclonal antibody that has been evaluated in multiple clinical settings, including ARDS and pyoderma gangrenosum, with GOHIBIC (vilobelimab) approved in the European Union under exceptional circumstances for adults with SARS-CoV-2-induced ARDS who meet specified treatment criteria.
• Collaborative programs: Anti-C5a antibody BDB-001 being developed by a partner in China using the vilobelimab cell line, with InflaRx entitled to royalties on net sales of BDB-001-containing products.

Risk and regulatory considerations

InflaRx’s press releases and SEC filings include forward-looking statements that outline risks and uncertainties related to clinical development, regulatory approvals or authorizations, manufacturing, commercialization, financing, and competitive dynamics in the field of C5a and C5aR inhibitors. The company refers readers to the “Risk Factors” section of its periodic SEC filings for a more detailed discussion of these risks.

FAQs about InflaRx N.V. (IFRX)

• What does InflaRx N.V. do?
  InflaRx N.V. is a biopharmaceutical company that focuses on discovering, developing and commercializing anti-inflammatory therapeutics targeting the complement system, specifically the complement activation factor C5a and its receptor C5aR. Its programs include an intravenous anti-C5a monoclonal antibody and an oral C5aR inhibitor.
• What are InflaRx’s main product candidates?
  According to company disclosures, InflaRx has developed vilobelimab, an intravenously delivered anti-C5a monoclonal antibody, and is developing izicopan (also referenced as INF904), an orally administered small molecule inhibitor of C5a-induced signaling via the C5a receptor. Both are designed to inhibit the C5a/C5aR axis.
• Which indications is InflaRx targeting with izicopan (INF904)?
  InflaRx reports that izicopan is being developed for inflammatory diseases including hidradenitis suppurativa and chronic spontaneous urticaria. Phase 2a data have been reported in both indications, and the company has described plans to progress toward Phase 2b development in HS and to explore further development in CSU and other inflammation and immunology indications.
• What is GOHIBIC (vilobelimab)?
  GOHIBIC (vilobelimab) is the name used by InflaRx for vilobelimab in the context of its approved indication in the European Union. The company states that GOHIBIC (vilobelimab) is approved in the EU under exceptional circumstances for adults with SARS-CoV-2-induced ARDS who are receiving systemic corticosteroids as part of standard of care and invasive mechanical ventilation with or without extracorporeal membrane oxygenation.
• On which exchange is InflaRx listed and what is its ticker symbol?
  InflaRx N.V. states that its ordinary shares are listed on Nasdaq under the ticker symbol IFRX. The company files periodic reports with the U.S. Securities and Exchange Commission as a foreign private issuer.
• Where is InflaRx based?
  InflaRx reports that it was founded in 2007 and that the group has offices and subsidiaries in Jena and Munich, Germany, as well as Ann Arbor, Michigan, USA. InflaRx GmbH and InflaRx Pharmaceuticals Inc. are wholly owned subsidiaries of InflaRx N.V.
• How does InflaRx describe the role of C5a in disease?
  Company materials describe C5a as a powerful inflammatory mediator involved in the progression of a wide variety of inflammatory diseases. InflaRx’s therapeutic approach is based on inhibiting C5a or its receptor C5aR to modulate inflammatory responses while leaving other components of the complement system, such as the membrane attack complex, intact.
• What recent strategic changes has InflaRx announced?
  InflaRx has announced a strategy to focus resources on izicopan, including measures to reduce spending, streamline its organizational structure and reduce commercial spending related to GOHIBIC (vilobelimab). The company reports that these actions are intended to extend its cash runway and support further development of izicopan in HS and other inflammation and immunology indications.
• How does InflaRx communicate clinical and financial updates?
  InflaRx issues press releases and files reports on Form 6-K and Form 20-F with the U.S. Securities and Exchange Commission. These documents include updates on clinical trial results, regulatory interactions, financial performance and other corporate developments.
• Does InflaRx collaborate with other companies on complement-targeted therapies?
  Yes. InflaRx reports a co-development agreement in China under which a partner uses the vilobelimab cell line to develop and manufacture the anti-C5a antibody BDB-001. InflaRx states that it is entitled to receive royalties on net sales of products containing BDB-001.