Shares of InflaRx N.V. (NASDAQ:IFRX) surged 22% on Wednesday after the biopharmaceutical company revealed plans to advance izicopan, its oral C5a receptor inhibitor, into development for ANCA-associated vasculitis, a life-threatening kidney disorder.
Company management said it is in the Phase 2 planning stage for izicopan in AAV and is evaluating several development strategies, including the possibility of an expedited path to the commercial market. The statement emphasized multiple approaches under consideration rather than a single fixed protocol.
In addition to AAV, InflaRx said it will pursue proof-of-concept data for izicopan in other complement-mediated renal conditions through a series of open-label studies. Those studies are expected to begin generating clinical data next year and will target atypical hemolytic uremic syndrome, IgA nephropathy, and C3 glomerulopathy.
The company also said it anticipates conducting a pharmacokinetic bridging study in China this year as part of its broader clinical program planning.
To support these development activities, InflaRx announced the pricing of an underwritten offering of 75 million ordinary shares at $2.00 per share. The offering, which is expected to close on May 7, included participation from both new and existing investors, among them TCGX, Farallon Capital Management, Sirenia Capital Management LP, Columbia Threadneedle Investments, and Great Point Partners.
InflaRx estimated that the proceeds from the financing will provide sufficient funds to carry out currently planned development efforts through a set of meaningful milestones. Those milestones explicitly include proof-of-concept data readouts in aHUS, IgAN and C3G, the Phase 2 data readout in AAV, and ongoing operations through 2029.
Looking ahead, the company said it plans to hold a Capital Markets Day in summer 2026 focused on izicopan’s potential in AAV and broader renal disorders. InflaRx also scheduled a webcast for Friday, May 8, at 8:30 AM ET to discuss its new strategy in AAV and renal disease.
Context and next steps
InflaRx has outlined a multi-pronged development plan for izicopan that pairs Phase 2 planning in AAV with open-label proof-of-concept studies in additional complement-mediated kidney diseases. The company has announced near-term operational steps including a pharmacokinetic bridging study in China and an investor-focused webcast, while securing financing intended to support programs through key data readouts and operations into 2029.