InflaRx assumed with an Outperform at Oppenheimer

Oppenheimer analyst Mazahir Alimohamed assumed coverage of InflaRx (IFRX) with an Outperform rating with a price target of $5, down from $7. The firm views izicopan, an oral C5aR inhibitor with a differentiated pharmacological profile vs. avacopan, as InflaRx’s main value driver. Backed by promising Phase 2a basket study data, InflaRx is advancing izicopan to Phase 2b in hidradenitis suppurativa, which to Oppenheimer is the primary near-term development focus.