Publication of positive results is almost always a highly positive trigger for a pharmaceutical or biotech stock, and that is what IFRX stock experienced this morning. In a new development today, InflaRx NV (NASDAQ:IFRX) announced highly positive results from its Phase B clinical trial, called SHINE, of its lead candidate.
Bullish Reaction
The lead candidate in question is IFX-1, which is supposed to be used to treat patients suffering from hidradenitis suppurativa, a type of inflammatory skin condition. It goes without saying that this is a significant development for this nano-cap company, and the market has received the news with great enthusiasm.
IFRX stock has soared by as much as 16% at $2.99 in early trade, and the stock has shown excellent momentum thus far today. It is almost certain that InflaRx is going to be among the closely followed stocks in the market today.
As many as 156 patients were part of the extension study that was started after the conclusion of the Phase 2 study. The Phase 2 study has lasted for as many as 16 weeks. In what could be good news for IFRX stock, the Chief Executive Officer of InflaRx, Professor Niels C. Riedemann, spoke about the results of the study:
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“The data from the open-label extension part of the SHINE study are very encouraging and confirm our conclusions from the recently published post-hoc analysis.”
In the end, it was found that as many as 56.3% of the total number of patients who participated in the study responded positively to the treatment. In addition to that, InflaRx also revealed that patients who had been in long-term treatment with this medicine have not displayed any side effects either. That is also a largely positive outcome from the findings of the clinical study. This is a particularly important event, since in June earlier this year, IFRX stock had plunged after the medicine failed to reach the primary endpoint.
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