InflaRx NV: Leaps on new data on treatment for skin condition

Inflarx NV

07/11/2019 12:25

** U.S.-listed shares of Germany-based drugmaker  IFRX.O 
jump 39% to $3.6 premarket; set to open at their highest since
July
    ** Company on Wed. posted positive data from an extension of
mid-stage study of experimental drug IFX-1 in patients with
hidradenitis suppurativa, a painful skin condition that causes
abscesses and scarring  urn:newsml:reuters.com:*:nEQ2QvTfra
    ** SVB Leerink says it is "open-minded but cautious" pending
additional information as it is unclear what regulators will
look for 
    ** Brokerage also notes that IFRX's financial wherewithal to
"execute to the finish line" remains a risk; as of June 30, IFRX
had cash and other investments of €138.3 mln ($153.19 mln) 
    ** Shares of the company slumped after IFX-1 failed the
study in June  urn:newsml:reuters.com:*:nL4N23C2R7
    ** Up to Wednesday's close, stock had fallen nearly 93% YTD

($1 = 0.9028 euros)

 (Reporting by Tamara Mathias in Bengaluru)
 ((Tamara.Mathias@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 1208;))