InflaRx shares shattered as lead drug flops badly in a PhIIb trial while ChemoCentryx is caught in the smash up
After winning over some of the analysts — and a big chunk of investors — to its side, InflaRx saw its shares $IFRX get cremated Wednesday morning after their lead drug failed a critical Phase IIb study.
IFX-1, which the biotech had billed as first-in-class anti-human complement factor C5a monoclonal antibody for patients suffering from moderate to severe Hidradenitis Suppurativa, failed to beat out a sugar pill in treating the chronic inflammatory skin disease.
The placebo response actually beat out the high and medium doses of this drug, with only a low dose scoring slightly higher — and not nearly enough to prove statistical significance.
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