InflaRx Price Target Lowered to $3, Outperform Rating Maintained

InflaRx's price target has been lowered to $3 from $6 by Oppenheimer, citing the discontinuation of the Phase 3 trial for vilobelimab due to futility. The firm keeps an Outperform rating on the shares, with a focus on the oral potent C5aR inhibitor, INF904, in HS and CSU.

InflaRx N.V. (Nasdaq: IFRX), a biopharmaceutical company specializing in anti-inflammatory therapeutics, has seen its stock price target lowered by Oppenheimer from $6 to $3. This adjustment comes in the wake of the Independent Data Monitoring Committee (IDMC) recommending the cessation of the Phase 3 trial for vilobelimab in pyoderma gangrenosum (PG) due to futility [1].

The IDMC's decision was based on the analysis of the first 30 patients enrolled in the study, which showed no significant clinical benefit. InflaRx, as the study sponsor, remains blinded to the study results. Despite the setback, the company remains committed to its goal of developing new therapies for chronic immune-dermatological conditions, with a focus on its oral inhibitor of C5aR, INF904 [1].

Oppenheimer maintains an Outperform rating on InflaRx's shares, emphasizing the potential of INF904 in chronic spontaneous urticaria (CSU) and hidradenitis suppurativa (HS). The firm expects Phase 2a data readouts for these indications this summer [1].

InflaRx also plans to discontinue further development of vilobelimab in the PG indication and redirect resources towards extending its cash runway. The company continues to support the BARDA-funded Phase 2 clinical platform study and has not ruled out additional cost-saving measures [1].

References:

[1] https://www.inflarx.de/Home/Investors/Press-Releases/Press-Release~2025-05-InflaRx-Announces-Outcome-of-Interim-Analysis-for-Vilobelimab-Phase-3-Trial-in-Pyoderma-Gangrenosum~.html