What’s causing shares of drug maker InflaRx (IFRX) to crash today

Shares of InflaRx IFRX, -89.81% fell 84% in premarket trade Wednesday after the biotech said its drug for an inflammatory skin disorder called hidradenitis suppurativa failed to show a statistically significant response in patients receiving the treatment compared with those on placebo. The drug, IFX-1, was being evaluated in a multi-center Phase 2 study of 179 patients at more than 40 sites in 9 countries. IFX-1 is a monoclonal anti-human complement factor C5a antibody meant to block the actions of C5a, which plays an important role in triggering inflammatory responses in the body. The company is also evaluating IFX-1 in the treatment of other inflammatory disorders, like ANCA-associated vasculitis and pyoderma gangraenosum. Shares of InflaRx have gained 2.5% in the year to date through Tuesday, while the S&P 500 SPX, +0.18% has gained 11.8%.







InflaRx N.V. shares were trading at $3.89 per share on Wednesday morning, down $33.40 (-89.57%). Year-to-date, IFRX has declined -89.30%, versus a 13.00% rise in the benchmark S&P 500 index during the same period.

IFRX currently has a StockNews.com POWR Rating of C (Neutral), and is ranked #76 of 322 stocks in the Biotech category.







This article is brought to you courtesy of MarketWatch .

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