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JENA, Germany - InflaRx N.V. (NASDAQ:IFRX) has regained compliance with Nasdaq’s minimum bid price requirement, the biopharmaceutical company announced Friday. The stock, currently trading at $1.47, has shown resilience despite an 11% decline over the past week, according to InvestingPro data.
The company received written notice from Nasdaq’s Listing Qualifications Department on September 11, confirming that it had satisfied the exchange’s listing rule requiring a minimum bid price of $1.00 per share. InflaRx met the requirement by maintaining a closing bid price at or above $1.00 for ten consecutive business days from August 27 to September 10.
With this compliance issue resolved, Nasdaq has closed the matter, according to the company’s press release statement.
InflaRx focuses on developing anti-inflammatory therapeutics by targeting the complement system. The company’s lead product is vilobelimab, an intravenously delivered monoclonal antibody that targets C5a, an inflammatory mediator. The firm is also developing INF904, an oral small molecule inhibitor.
Founded in 2007, InflaRx maintains offices in Jena and Munich, Germany, as well as Ann Arbor, Michigan.
In other recent news, InflaRx N.V. has received a written notice from Nasdaq regarding its share price. The company was informed that its stock had fallen below the minimum $1.00 per share requirement for continued listing on the exchange. This notice follows a 30-day period during which the company’s share price did not meet the threshold set by Nasdaq Listing Rule 5450(a)(1). Additionally, H.C. Wainwright has assumed coverage of InflaRx with a Buy rating and set a price target of $6.00. The firm highlighted InflaRx’s key assets, vilobelimab and INF904, in its research note. Vilobelimab is described as an intravenously administered anti-C5a monoclonal antibody, while INF904 is an oral small molecule inhibitor of C5aR. These recent developments provide investors with insights into the company’s current position and potential future performance.
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