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Investing.com - Leerink Partners downgraded Inflarx NV (NASDAQ:IFRX) from Outperform to Market Perform and lowered its price target to $2.00 from $5.00 on Wednesday. The stock is currently trading at $0.99, down 16.46% over the past week and has plummeted 59.75% year-to-date.
The downgrade comes despite what the research firm described as "encouraging data" from Inflarx’s INF904 drug in a Phase 2a basket study for hidradenitis suppurativa (HS) and chronic spontaneous urticaria (CSU). According to InvestingPro data, two analysts have recently revised their earnings upwards for the upcoming period, suggesting some optimism remains despite the downgrade.
Leerink Partners noted that while the results were intriguing, particularly in HS, which they believe warrants further exploration in a Phase 2b study, financing concerns prompted the rating change.
The firm pointed out that Inflarx has not arranged financing following the release of these positive data and ended the third quarter with €44.4 million in cash, cash equivalents, and marketable securities.
Although Inflarx believes its current funds will sustain operations until 2027, Leerink Partners suspects additional capital raises may be necessary to fund the INF904 development program, which could be "relatively dilutive at the current stock price."
In other recent news, InflaRx N.V. has reported positive results from its Phase 2a study of the oral C5a receptor inhibitor INF904 for treating hidradenitis suppurativa (HS) and chronic spontaneous urticaria (CSU). The study, which included 29 HS patients and 30 CSU patients, demonstrated promising efficacy, with significant reductions in symptoms over a four-week treatment period. Following this development, Raymond James has raised its price target for InflaRx from $2.00 to $9.00, maintaining an Outperform rating, citing strong early efficacy and safety data. InflaRx also announced that it will release its third-quarter 2025 financial results and additional trial data on November 10, 2025, accompanied by a webcast and conference call. Furthermore, the company has regained compliance with Nasdaq’s minimum bid price requirement, maintaining a closing bid price of at least $1.00 for ten consecutive business days. These recent developments mark significant progress for InflaRx in its clinical and financial endeavors.
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