InflaRx Shares Slammed As Skin Inflammation Drug Flunks Midstage Trial; ChemoCentryx Moves In Sympathy

Shares of the thinly traded, micro-cap biotech Inflarx NV IFRX were losing 90 percent of their value Wednesday following a failed clinical trial. ChemoCentryx Inc CCXI, which has a rival drug in its pipeline, traded down in sympathy 

What Happened

InflaRx announced top-line results from the Phase 2b study SHINE, which showed that IFX-1, its pipeline candidate for treating moderate-to-severe Hidradenitis suppurativa, or HS, did not meet the primary endpoint of demonstrating a statistically significant dose-dependent effect on the HS Clinical Response, or HiSCR rate, at week 16.

The HiSCR rate was 51.5 percent for the treatment arm compared to 47.1 percent for the placebo arm.

HS is a chronic inflammatory skin disease with limited treatment options.

IFX-1, InflaRx's lead compound, is a first-in-class anti-human complement factor C5a monoclonal antibody being evaluated for multiple indications. The HS indication is in the most advanced stage of clinical development.

ChemoCentryx Trades Down

ChemoCentryx, a small-cap biotech, is moving in sympathy with InflaRx. The move in the stock is in reaction to the read-through from the InflaRx trial setback, JPMorgan analyst Anupam Rama told Benzinga.

ChemoCentryx' CCX168 is being tested for HS in a Phase 2b trial.

Inflarx NV shares were down 90.78 percent at $3.44 at the time of publication Wednesday on 105 times their average volume, while ChemoCentryx shares were down 18.05 percent at $9.08. 

Related Links:

The Daily Biotech Pulse: Curtains Down On ASCO, Rewalk Flies, Eli Lilly's Migraine Drug Approved For Cluster Headache

Obalon Clinches First US Patent For Obesity Treatment Placement System

Posted In: Anupam RamaJPMorganBiotechNewsMoversTrading IdeasGeneral

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.