InflaRx Announces Publication of Phase 1 Data Demonstrating - GlobeNewswire
GlobeNewswire · Nov 6, 12:30 PM
InflaRx plans two phase 2 AAV trials starting in 2027 - Investing.com
Investing.com · Nov 3, 12:20 PM
Market reactionShares fell 13% on Nov 4.
InflaRx develops drugs blocking the immune protein C5a or its receptor; its unapproved lead, oral izicopan, is headed for vasculitis and kidney trials; vilobelimab is authorized only for critically ill COVID-19 patients.
InflaRx's case rests on oral izicopan in AAV and kidney disease. Two AAV Phase 2 trials are planned in 2027, with first data anticipated in 2028; aHUS data are expected in 2H 2027 and IgAN data in 2028. Laboratory findings suggest safety differentiation, but benefit in these patients remains unanswered. Reported Tavneos revocations sharpen the European opportunity for izicopan and vilobelimab. Management projects planned-operation funding through the end of 2029, while warning additional funding is needed. The unused $65 million ATM is issuance capacity, not cash.
Thesis checklist
0 risks need attention
Why it is in this state
The evidence, what would weaken it and the source filing
Why it is in this state
The evidence, what would weaken it and the source filing
Why it is in this state
The evidence, what would weaken it and the source filing
Why it is in this state
The evidence, what would weaken it and the source filing
Next decision point
Tests: Izicopan's AAV Phase 2 starts on time
Does the randomized renal-involvement AAV study start on schedule and progress toward patient enrollment?
Strong, inconclusive and weak outcomes
What to look for in the result and how each would move the checklist
Price and material events
Select an event marker to read the update below. Marker colors show Thesis status.
Izicopan's AAV plan separates renal benefit from steroid replacement; first data expected in 2028
Izicopan's AAV plans remain central; latest accounts confirm unused ATM capacity
An EU committee's recommendation to revoke Tavneos opens AAV for izicopan, but Phase 2 hasn't started and the C5aR story must be rebuilt from scratch
Dilutive $150M raise buys runway to 2029, but izicopan must generate Phase 2 AAV proof-of-concept to justify the reset
About this history: every entry shows when the Thesis moved and what it said. The reasoning behind each move (the evidence, the analysis and the source filing) and the earnings write-ups are part of a subscription.
Dates, trials and completed outcomes are open to everyone. What each upcoming milestone hinges on is part of a subscription.
Disease areas: Kidney diseases, Blood disorders, Lung and respiratory diseases, Skin diseases, Autoimmune and inflammatory diseases
Catalyst calendar · Upcoming FDA decisions · Thesis changes
Competitive landscape
9 peers tracked
Cash: Market-data provider estimate; measurement period unavailable.
Debt: Market-data provider estimate; a complete comparable filing balance is unavailable.
Quarterly burn: Estimated from trailing free cash flow; measurement period unavailable.
Net cash and estimated runway require verified matching measurement periods. Missing debt components are not assumed to be zero.
Runway: No underlying guidance available.