InflaRx (IFRX) Rockets 49.59% on INF904 Trial Success, €44.4M Liquidity Boost

InflaRx (IFRX) surged to its highest level so far this month on Nov. 10, with an intraday gain of 49.59%, extending its two-day rally by 31.67%. The biopharma firm’s shares hit a fresh multi-month high amid positive clinical data and robust liquidity, reigniting investor optimism in its pipeline.

The stock’s jump followed the release of topline Phase 2a trial results for INF904, an oral C5a receptor inhibitor, in treating hidradenitis suppurativa and chronic spontaneous urticaria. The trial showed clinically meaningful reductions in disease severity and pain, with no serious adverse events reported. INF904’s potential as a disease-modifying therapy, coupled with durable effects observed post-treatment, bolstered its value proposition. InflaRx also highlighted its €44.4 million liquidity as of Sept. 30, 2025, extending its cash runway into 2027 and reducing dilution risks.

Analysts noted the strategic shift to INF904 as a key driver, following the discontinuation of its vilobelimab trial in pyoderma gangrenosum. The drug’s broad mechanism targeting inflammatory pathways positions it for expansion into multiple indications, with Phase 2b trials in HS and partnering discussions for CSU expected to serve as near-term catalysts. However, the open-label, small-sample design of the Phase 2a study underscores the need for larger trials to validate these early findings. InflaRx’s ability to secure partnerships and advance INF904’s development will likely dictate its long-term trajectory.