InflaRx Reports Financial Results for Q2 2024
Intellectia.AI Updated: 1970-01-01
InflaRx Reports Financial Results for Q2 2024
InflaRx N.V. (Nasdaq: IFRX), a biopharmaceutical company focused on anti-inflammatory therapeutics, reported its financial results for the quarter ended June 30, 2024.
Key Financial Metrics
| Metric | Q2 2024 | Q1 2024 | Q2 2023 | YoY Change | QoQ Change | Wall Street Consensus Q2 2024 |
|---|---|---|---|---|---|---|
| Total Revenue | €42K | €0 | €0 | - | - | $90K |
| Earnings Per Share (EPS) | Not Provided | -€0.12 (est.) | -€0.15 (est.) | - | - | -€0.22 |
Interpretation: For the quarter ended June 30, 2024, InflaRx reported total revenue of €42,000. No revenue was reported in the prior quarter or the same quarter last year. The company's performance missed the Wall Street consensus of $90,000 for this quarter. EPS figures for this quarter were not provided, but estimates suggest a slight improvement from the previous quarter and the same period last year.
Segment Revenue Performance
| Segment | Revenue Q2 2024 | Previous Guidance |
|---|---|---|
| GOHIBIC Sales | €42K | Not Provided |
Interpretation: Revenue from the segment GOHIBIC amounted to €42,000, with no specific previous guidance provided for comparison.
Key Operational Data
No additional operational data provided.
Comments from Company's Officers
Prof. Niels C. Riedemann, CEO and Founder, commented on the company's advancements in differentiated pipeline assets targeting unmet needs in immuno-dermatology and other inflammation & immunology indications. He highlighted the anticipated milestone of a Phase 2a study with INF904 by the end of 2024 and the continued progress of vilobelimab in late-stage development for pyoderma gangrenosum.
Dr. Thomas Taapken, CFO, emphasized the company's efficient cash use and strategic development focus, ensuring a strong cash runway to fund operations into 2026.
Dividends or Share Repurchase Programs
No information was provided regarding announced dividends or share repurchase programs.
Forward Guidance
InflaRx has not provided specific numerical forward guidance for the upcoming quarters. However, the company shared significant timelines, including the initiation of a Phase 2a data readout for INF904 expected in summer 2025 and an interim analysis for the vilobelimab Phase 3 trial in pyoderma gangrenosum by 2025.
Stock Price Movement
Following the earnings release, InflaRx's stock price remained unchanged with a 0.0% change.
Summary: InflaRx's financial results for Q2 2024 showed €42,000 in revenues entirely attributed to sales of GOHIBIC. The company continues to advance its clinical pipeline with notable expected milestones for INF904 and vilobelimab in the upcoming years. Despite missing analyst expectations for revenue, InflaRx emphasized its strong cash position and operational efficiency, projecting continued funding for its operations well into 2026.
The report has been organized into a clear and structured format suitable for investors.
