InflaRx N.V.
IFRX evidence brief
What we can confirm
What it means
What to watch
Prepared research question
What matters most for IFRX—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · IFRX
InflaRx N.V. is a clinical-stage biopharmaceutical company focused on developing anti-C5a/C5aR therapies, with lead candidates izicopan and vilobelimab (GOHIBIC), and faces significant financial challenges including a history of operating losses and reliance on external funding.
Key risk: Need for additional capital
Market Cap
$328.6M
Cash Runway
—
Lead Asset
—
Next Catalyst
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Financial data as of Dec 31, 2025.
Tracking 2 clinical trials for InflaRx N.V..
InflaRx N.V. is a clinical-stage biopharmaceutical company focused on developing anti-C5a/C5aR therapies, with lead candidates izicopan and vilobelimab (GOHIBIC), and faces significant financial challenges including a history of operating losses and reliance on external funding.
- InflaRx is developing izicopan (lead candidate), vilobelimab (GOHIBIC), and IFX002 for various indications [sec · filed 2026-03-20].
- As of December 31, 2025, the company had cash and cash equivalents of €16.0 million and €30.2 million in marketable securities [sec · filed 2026-03-20].
- Net losses were €45.6 million, €46.1 million, and €42.7 million for the years ended December 31, 2025, 2024, and 2023, respectively [sec · filed 2026-03-20].
- Accumulated deficit as of December 31, 2025 was €377.8 million [sec · filed 2026-03-20].
- The company has a limited operating history and has not yet achieved profitability, with minimal product revenue to date [sec · filed 2026-03-20].
What works
- InflaRx has a proprietary anti-C5a/C5aR technology platform that supports multiple product candidates (izicopan, vilobelimab, IFX002) [sec · filed 2026-03-20].
- Vilobelimab (GOHIBIC) has received EUA in the U.S. and market authorization in Europe, providing a potential revenue stream [sec · filed 2026-03-20].
- The company has ongoing clinical development programs, including a Phase 3 trial for vilobelimab in pyoderma gangrenosum (PG) [sec · filed 2025-03-20].
What to weigh
- InflaRx has a history of significant operating losses and expects net losses to continue, with an accumulated deficit of €377.8 million as of December 31, 2025 [sec · filed 2026-03-20].
- Existing cash and cash equivalents are not sufficient to fund all planned development efforts, requiring additional funding through equity, debt, or partnerships [sec · filed 2026-03-20].
- The company has a limited operating history and no track record of commercializing pharmaceutical products, making future viability uncertain [sec · filed 2026-03-20].
- Future development of pipeline candidates depends heavily on the clinical and commercial success of izicopan and vilobelimab [sec · filed 2026-03-20].
From the filings
Quoted directly from source documents.
The company has incurred substantial net losses and accumulated deficit.
“We incurred net losses of €45.6 million, €46.1 million and €42.7 million for the years ended December 31, 2025, 2024 and 2023, respectively. In addition, our accumulated deficit as of December 31, 2025 was €377.8 million.”
SEC filings · March 20, 2026
Cash position as of December 31, 2025.
“As of December 31, 2025, we had cash and cash equivalents of €16.0 million and €30.2 million in marketable securities.”
SEC filings · March 20, 2026
The company's cash is insufficient to fund all planned efforts.
“Our existing cash and cash equivalents will not be sufficient to fund all the efforts that we plan to undertake or to fund the completion of development of any of our product candidates.”
SEC filings · March 20, 2026
The company has a limited operating history.
“We have a limited operating history and history of commercializing pharmaceutical products, which may make it difficult to evaluate the prospects for our future viability”
SEC filings · March 20, 2026
Risks & what to watch (4)›
Key risks
- Need for additional capital — Existing cash is insufficient to fund all planned development; further funding required through equity, debt, or partnerships [sec · filed 2026-03-20].
- History of operating losses — Net losses of €45.6M in 2025 and accumulated deficit of €377.8M as of Dec 31, 2025; profitability uncertain [sec · filed 2026-03-20].
- Limited commercialization experience — No track record of commercializing pharmaceutical products; future viability difficult to evaluate [sec · filed 2026-03-20].
- Dependence on lead candidates — Future development of pipeline depends on clinical and commercial success of izicopan and vilobelimab [sec · filed 2026-03-20].
What to watch
- Progress of Phase 3 clinical development program with vilobelimab in pyoderma gangrenosum (PG) [sec · filed 2025-03-20].
- Regulatory submissions for full BLA to FDA and additional submissions to EMA for vilobelimab [sec · filed 2025-03-20].
- Ability to secure additional funding through equity offerings, debt, or partnerships [sec · filed 2026-03-20].
- Commercialization efforts for GOHIBIC (vilobelimab) in the U.S. and Europe [sec · filed 2025-03-20].
Sources: SEC filings · Generated August 13, 2026 · How we verify sources →
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Evidence & data
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
32
Total value held
$14.7M
| Holder | Shares | Value |
|---|---|---|
| suvretta capital management, llc | 7,933,910 | $7.1M |
| 683 capital management, llc | 3,315,000 | $3.0M |
| bank of america corp /de/ | 1,975,000 | $1.8M |
| morgan stanley | 1,175,576 | $1.1M |
| marshall wace, llp | 554,364 | $493K |
| raymond james financial inc | 395,803 | $354K |
| two sigma investments, lp | 189,075 | $169K |
| dcf advisers, llc | 158,500 | $142K |
| adar1 capital management, llc | 158,271 | $142K |
| kestra advisory services, llc | 95,000 | $85K |
Showing top 10 of 32 institutional holders of InflaRx N.V.. Open the full 13F history after sign-in.
Short Interest
as of Apr 20, 2026- % of float
- 4.1%
- Days to cover
- 7.5
- Shares short
- 2,452,174
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
IFRX short interestFrequently asked questions
What is the AI investment thesis for InflaRx N.V.?
InflaRx N.V. is a clinical-stage biopharmaceutical company focused on developing anti-C5a/C5aR therapies, with lead candidates izicopan and vilobelimab (GOHIBIC), and faces significant financial challenges including a history of operating losses and reliance on external funding.
Who is the CEO of InflaRx N.V.?
Prof. Niels C. Riedemann M.D., Ph.D. is the chief executive officer of InflaRx N.V. (IFRX).
Where is InflaRx N.V. headquartered?
InflaRx N.V. (IFRX) is headquartered in Jena, Germany.
What therapeutic areas does InflaRx N.V. focus on?
InflaRx N.V. develops therapies across Dermatology.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.