Guggenheim Reiterates Buy Rating on Inflarx NV (IFRX)

Guggenheim analyst Yatin Suneja reiterated a Buy rating and $10.00 price target on Inflarx NV (NASDAQ: IFRX).

The analyst comments "Today, IFRX announced that the Independent Data Monitoring Committee (IDMC) has recommended the Phase III study evaluating vilobelimab (anti-C5a mAb; aka Gohibic) in ulcerative pyoderma gangrenosum (PG) to be terminated due to futility (press release HERE). While the IDMC did not highlight any unexpected adverse effects due to the drug, mgmt believes that the drug did not render sufficient clinical benefit to justify moving forward into a larger study population. The company will now prioritize its resources on INF904 (oral C5aR inhibitor), with the Phase IIa basket readout for chronic spontaneous urticaria (CSU) and hidradenitis suppurativa (HS) that remain on-track for this summer. This will be the key readout that investors should be paying attention to. IFRX will be focusing on redirecting their current financial position to maximize cost savings and extend the cash runway. Potential repositioning strategies could include the expansion the basket study to add a maintenance dosing arm, but we will await for further clarification by the mgmt over the next few months. While we are disappointed with the outcome of the PG study, we continue to see potential in targeting the C5a/C5aR axis in addressing immuno-dermatology conditions, and we look forward to the basket study readout this summer. IFRX remains well-capitalized, with cash position sitting at ~$75MM (or ~$1.10/share) as of end of 1Q25. Reiterate BUY, PT remains at $10."

For an analyst ratings summary and ratings history on Inflarx NV click here. For more ratings news on Inflarx NV click here.

Shares of Inflarx NV closed at $1.82 yesterday.

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