HomeTrending StocksHere is why InflaRx N.V. (IFRX) stock surged in the after-hours on...

Here is why InflaRx N.V. (IFRX) stock surged in the after-hours on Wednesday?

InflaRx N.V. (IFRX) shares soared 39.51% in after-hours on Wednesday, October 27, 2021, and closed the daily trading at $3.99. In the regular trading session of Wednesday, IFRX’s stock remained unchanged at $2.86 per share. IFRX shares have fallen 32.39% over the last 12 months, and they have moved up 3.62% in the past week. Over the past three months, the stock has gained 10.42%, while over the past six months, it has declined 23.53%.

Let’s have a brief look at its recent news and developments.

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IFRX positive data from Phase IIa of vilobelimab

On October 27, 2021, InflaRx N.V. (IFRX), announced positive data from the third cohort of patients in the Phase IIa open-label study with vilobelimab in Pyoderma Gangraenosum (PG).

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A total of 19 patients were enrolled in the multi-centre, proof-of-concept study, with seven patients, enrolled in the third cohort. All seven patients were evaluated at least on the day of the last drug administration and six of the seven patients achieved clinical remission with a PGA score of ≤1, which reflects a closure of the target ulcer.

IFRX received a financial grant

On October 19, 2021, the German Ministry of Education and Research and the German Ministry of Health awarded a grant of up to EUR 43.7 million to InflaRx N.V. (IFRX) to support the development of vilobelimab for the treatment of severely ill, mechanically ventilated COVID-19 patients.

The purpose of the grant is to advance clinical development activities in COVID-19 and to secure manufacturing capacity for vilobelimab in Germany.

IFRX patient enrollment in Phase III of vilobelimab

On October 12, 2021, InflaRx N.V. (IFRX), completed the enrollment of the Phase III part of Phase II/III vilobelimab study in severe COVID-19 patients.

The Phase II/III study enrolled 369 mechanically ventilated patients with COVID-19 across sites in the EU, South America and other regions. Patients were randomized 1:1 to receive either vilobelimab or placebo. Treatment is still ongoing and topline results are expected to be available in Q1 2022.

Participation in the recent investor conference

InflaRx N.V. (IFRX) recently participated virtually at the H.C. Wainwright 23rd Annual Global Investment Conference, which was held on September 13, 2021. The company was presented by Prof. Niels C. Riedemann, Chief Executive Officer and Founder of the company during the event.

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The recent positive results announcement was the reason behind its after-hours gains on Wednesday. we can expect it to further surge on Thursday morning as well.

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