Clinical Study LimitationsThe caveats are that this is a small study, there's no placebo arm, and targeting the C5a pathway has already failed in 2 placebo-controlled Phase 2 trials for HS.
Efficacy ConcernsOverall, we don't think a clear efficacy signal jumps out as of now, and so we agree with the Company's plans to seek a partnership for this indication moving forward.
Market ChallengesBiogen discontinued the development of its mAb against C5aR1, which could indicate challenges in this area that might also affect Inflarx.