Why did IFRX's Q3 2023 earnings shock investors?

InflaRx's Q3 2023 earnings report surprised investors for several reasons:

1. **Unexpected Loss Reduction**: InflaRx reported a quarterly loss of $(0.14) per share, which was significantly better than the analyst consensus estimate of $(0.34) per share. This exceeded expectations by 58.82%.
2. **Revenue from Gohibic Sales**: The company recorded its first commercial sales of Gohibic (vilobelimab) in the third quarter of 2023. Gohibic is a treatment for critically ill COVID-19 patients, and its emergency use authorization (EUA) by the FDA in April 2023 contributed to the revenue.
3. **Cash Position and Burn Rate**: InflaRx had a cash runway of approximately 8 months as of September 2023, with analysts predicting cashflow breakeven in 2 years. This strategic financial positioning likely bolstered investor confidence.

Overall, InflaRx's Q3 2023 earnings report was a significant positive surprise, primarily due to the better-than-expected loss reduction and the revenue generated from Gohibic sales, along with a reassuring cash position and burn rate.