InflaRx Reports Full Year 2025 Results and Highlights Key Achievements and Expected Milestones

Core Viewpoint - InflaRx N.V. is focusing its resources on izicopan, an anti-inflammatory therapeutic, following positive Phase 2a results in hidradenitis suppurativa (HS) and chronic spontaneous urticaria (CSU) [2][3] Financial Results - For the year ended December 31, 2025, InflaRx reported a net loss of €45.6 million, or €0.68 per ordinary share, compared to a net loss of €46.1 million, or €0.78 per ordinary share, for 2024 [20] - Total funds available as of December 31, 2025, amounted to approximately €46.2 million, which includes €16.0 million in cash and cash equivalents and €30.2 million in marketable securities [21] - Marketing and sales expenses decreased by €2.3 million to €4.5 million for the year ended December 31, 2025, primarily due to lower external service costs [15] - Research and development expenses decreased by €9.6 million to €25.7 million, mainly due to lower costs from manufacturing development activities and clinical trials [16] Business Update - InflaRx is in active discussions with the FDA regarding the design of a Phase 2b trial for izicopan in HS and expects to finalize communications soon [2][3] - The company plans to conduct a pharmacokinetic bridging study in China to expedite proof-of-concept studies for izicopan in additional indications [6] - InflaRx aims to host a virtual Capital Markets Day to provide insights into izicopan's clinical development path and market opportunities [4] Clinical Development - Izicopan has shown promising Phase 2a data, indicating rapid and meaningful reductions in abscesses and nodules in HS, with improvements in various clinical measures [7][9] - In CSU, izicopan demonstrated improvements in clinical measures that exceed historical placebo levels, particularly in patients with severe disease [10] - The company is considering further development of izicopan in CSU, with a potential market opportunity exceeding $1 billion [10] Pipeline and Strategy - InflaRx is reviewing additional development opportunities for izicopan in ANCA-associated vasculitis (AAV), highlighting its best-in-class potential due to its differentiated safety profile [5][8] - The company is actively engaging with potential collaborators to expedite its pipeline development goals [8]