InflaRx stock plummets 84% after failure of skin treatment
Shares of InflaRx 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 has gained 11.8%
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