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IFRX

InflaRx N.V.

IFRX

InflaRx N.V. • NASDAQ
$1.26 ▲ 5.88% (+0.07)
Market Cap $85.36 M
52w High $2.81
52w Low $0.71
Dividend Yield 0%
P/E -1.77
Volume 360.25K
Outstanding Shares 67.75M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $23.83K ▼ $9.501M ▼ $-12.261M ▲ -51.452K% ▼ $-0.18 ▲ $-12.135M ▲
Q2-2025 $39.432K ▲ $10.558M ▼ $-14.416M ▼ -36.56K% ▼ $-0.21 ▼ $-14.205M ▼
Q1-2025 $0 ▲ $12.996M ▲ $-8.314M ▼ 0% ▼ $-0.13 ▼ $-8.196M ▼
Q4-2024 $-423 ▼ $6.942M ▼ $-5.112M ▲ 1.208M% ▲ $-0.087 ▲ $-4.996M ▲
Q3-2024 $123.819K $15.556M $-17.45M -14.093K% $-0.29 $-17.328M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $44.645M ▼ $65.157M ▼ $19.79M ▲ $45.367M ▼
Q2-2025 $47.997M ▼ $73.442M ▼ $16.398M ▼ $57.044M ▼
Q1-2025 $65.86M ▲ $87M ▲ $16.534M ▲ $70.466M ▲
Q4-2024 $18.376M ▼ $76.018M ▼ $14.602M ▲ $61.416M ▼
Q3-2024 $26.206M $79.688M $14.405M $65.282M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-12.261M ▲ $-9.04M ▼ $2.604M ▲ $-84.953K ▲ $-6.555M ▲ $-9.128M ▼
Q2-2025 $-14.416M ▼ $-7.553M ▲ $-24.906M ▼ $-99.575K ▼ $-34.283M ▼ $-7.568M ▲
Q1-2025 $-8.314M ▼ $-14.016M ▼ $17.656M ▲ $27.009M ▲ $28.911M ▲ $-14.026M ▼
Q4-2024 $-5.112M ▲ $-11.895M ▼ $1.956M ▼ $676.591K ▲ $-7.83M ▼ $-11.912M ▼
Q3-2024 $-17.45M $-9.659M $17.469M $-97.092K $7.054M $-9.661M

Five-Year Company Overview

Income Statement

Income Statement InflaRx is still a pure R&D company with no product sales yet, so all activity shows up as research and operating costs, not revenue. Losses have been steady over the past several years, rather than rapidly escalating, which suggests disciplined cost control. However, the company consistently spends more than it brings in, as is typical for a clinical‑stage biotech. The key financial swing factor is not current profitability but whether future trial results and approvals can eventually convert today’s R&D spending into commercial revenue. Until that happens, the income statement will remain loss‑making by design.

Balance Sheet

Balance Sheet The balance sheet is simple and relatively clean. Assets are mostly cash and similar liquid resources, with no financial debt reported, which reduces balance‑sheet risk and interest burdens. Shareholders’ equity remains positive but has gradually been drawn down by ongoing losses, reflecting the use of past funding to support R&D. The main questions for the balance sheet are how long current resources can support the pipeline and when additional capital will be needed, rather than concerns about leverage or complex liabilities.

Cash Flow

Cash Flow Cash flows are negative from operations, driven by research and development and general overhead. There is essentially no spending on heavy equipment or facilities, so total cash burn is mostly tied to people, clinical trials, and related operating costs. This makes the cost base relatively flexible, but it also means progress depends on a steady stream of funding. With no revenue and no debt, future cash will likely need to come from new equity raises, partnerships, or milestone payments once certain clinical or regulatory goals are hit. Management’s stated runway into 2026 is a key marker, but it is subject to changes in trial pace and spending priorities.

Competitive Edge

Competitive Edge InflaRx operates in a highly specialized corner of immunology, focusing on the C5a/C5a receptor pathway in the complement system. Its lead antibody vilobelimab is differentiated by targeting C5a while leaving other immune functions intact, which could offer safety advantages versus broader complement blockers from much larger players. Its oral candidate INF904 aims to compete in chronic inflammatory diseases where convenient, long‑term treatment is crucial, going up against established and emerging therapies. The company’s edge comes from deep expertise in this specific pathway and a targeted technology platform, but it competes with very well‑funded global pharma companies and must still prove clear, clinically meaningful benefits in each disease setting. The recent failure of the pyoderma gangrenosum trial also shows how fragile competitive positioning can be in early‑stage biotech when key programs stumble.

Innovation and R&D

Innovation and R&D Innovation is the core of InflaRx’s story. The company has built its identity around precise modulation of C5a and its receptor, with vilobelimab and INF904 as the main value drivers. Vilobelimab already has emergency authorization in severe COVID‑19, which validates the mechanism scientifically, even if the long‑term commercial value may be limited. INF904 is positioned as a versatile oral drug that could be used across several chronic skin and inflammatory conditions, potentially giving it broad reach if results hold up in larger trials. A supportive patent portfolio and a partnered program in China add to the R&D platform. At the same time, the halted Phase 3 study in pyoderma gangrenosum underscores the usual biotech risk: each indication is an experiment, and setbacks can quickly reshape the pipeline and increase dependence on the remaining assets.

Summary

InflaRx is a classic clinical‑stage biotech: scientifically focused, pre‑revenue, and living off its cash reserves while it runs high‑stakes trials. Financially, it has a straightforward, low‑debt profile but faces ongoing losses and negative cash flow until a product gains meaningful commercial traction. Strategically, it holds a specialized and potentially defensible niche in complement biology, with differentiated assets and credible scientific backing. However, it also faces intense competition from much larger companies, trial and regulatory uncertainty, and the likelihood of needing additional funding beyond its current runway. The company’s future will be shaped far more by clinical trial outcomes and partnership deals than by current financial metrics, making upcoming data readouts and development milestones the critical factors to watch.

NEWS

November 10, 2025 · 7:30 AM UTC

InflaRx Reports Positive Phase 2a Data for INF904 in Hidradenitis Suppurative (HS) and Chronic Spontaneous Urticaria (CSU)

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November 7, 2025 · 4:05 PM UTC

InflaRx to Announce Topline Data from Phase 2a Clinical Trial of INF904 in Hidradenitis Suppurativa and Chronic Spontaneous Urticaria

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October 21, 2025 · 7:20 AM UTC

InflaRx Announces Participation in the Guggenheim Securities 2nd Annual Healthcare Innovation Conference

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September 12, 2025 · 8:30 AM UTC

InflaRx Regains Compliance with Nasdaq Minimum Bid Price Requirement

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