trending Market Intelligence /marketintelligence/en/news-insights/trending/7rAzm8VkqnfRAc93ZvIhmw2 content esgSubNav
In This List

InflaRx loses most of its market value after skin drug fails study

Case Study

Identifying PPE Suppliers During the Pandemic


Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage


COVID-19 Impact & Recovery: Healthcare Outlook for H2 2021


Corporate Credit Risk Trends in Developing Markets: A Loss Given Default (LGD) Perspective

InflaRx loses most of its market value after skin drug fails study

InflaRx NV lost about 90% of its market value after it reported that patients receiving its medicine IFX-1 failed to show a statistically significant dose response for their skin disease in a mid-stage study when compared to placebo.

The Germany-based biopharmaceutical company's stock was down by 90.24% to $3.64 on Nasdaq as of 9:53 a.m. ET.

InflaRx evaluated four doses of IFX-1 against placebo in a phase 2b trial dubbed Shine which enrolled 179 patients with moderate to severe hidradenitis suppurativa — a painful, long-term skin condition that causes pus and scarring on the skin.

The company said that after 16 weeks of treatment, IFX-1 showed a response rate of 51.5% while placebo demonstrated a response rate of 47.1%.

InflaRx Chief Medical Officer Othmar Zenker said: "We are disappointed that we were not able to demonstrate a significant signal on dose-response for the treatment with IFX-1. While we are still analyzing additional data, we note that the trial demonstrated an unusually high placebo [Hidradenitis Suppurativa Clinical Response] HiSCR rate at week 16."

Patients receiving the drug also saw a reduction in the quality of life, as experienced by the patients themselves, compared to those on placebo.

The company added that overall, 72% of patients on placebo experienced a treatment-related adverse event compared to 66% of the combined IFX-1 treated patient groups.

InflaRx said the most common treatment-emergent adverse events were worsening of the disease and the common cold.

The company noted that IFX-1 was well-tolerated.

In addition, InflaRx said it will carry out a detailed analysis of additional data from the ongoing 28-week extension part of the Shine study when it becomes available.