Post-Pandemic Potential: Analysts Eye InflaRx COVID-19 Antibody For Market Breakthrough - InflaRx (NASDAQ

On Wednesday, the FDA granted emergency-use authorization to InflaRx NV's (NASDAQ:IFRX) monoclonal antibody for hospitalized COVID patients when initiated within 48 hours of receiving artificial life support. Vilobelimab will be sold under Gohibic.
Guggenheim Partners has upgraded InflaRx to Buy from Neutral with a new price target of $8.
The analyst writes that despite the pandemic coming to a close, Vilobelimab still has a significant market opportunity since the weekly hospitalization rate for COVID is still over 2,000 patients/ week in the U.S. and IFRX, most likely above $20K/course, above Gilead Sciences Inc's (NASDAQ:GILD) remdesivir.
HC Wainwright reiterates the Buy rating and increases the price target to $10 from $6 following the FDA update.
The analyst estimates Gohibic sales of $10 million in 2023 and $91 million in 2028.
HC Wainwright notes that InflaRx is exploring marketing options, including partnering or going it alone for commercialization.
Management mentioned it is unlikely to see immediate sales but would expect commercial sales in 2H23.
Pricing of the drug is expected to be in the five-digit range.
Price Action: IFRX shares are down 9.59% at $5.51 on the last check Thursday after rallying for the past two days.

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