Oppenheimer analyst Andreas Argyrides lowered the firm’s price target on InflaRx (IFRX) to $3 from $6 and keeps an Outperform rating on the shares. The firm notes InflaRx has announced that the IDMC recommended stopping the Phase 3 trial for vilobelimab, anti-C5a mAb, in PG due to futility following an unblinded interim analysis in 30 patients. With the discontinuation of vilo/PG, Oppenheimer removes it from its valuation as InflaRx shifts focus and resources to oral potent C5aR inhibitor, INF904 in HS and CSU.
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