TLDR:
- InflaRx (IFRX) misses Phase 3 primary endpoint but shows positive volume reduction in PG.
- Vilobelimab shows promise in PG despite Phase 3 failure, with significant volume reductions.
- InflaRx (IFRX) reports Phase 3 vilobelimab results, stock dips despite positive post-hoc analyses.
- InflaRx (IFRX) faces mixed market response as Phase 3 PG trial falls short.
- Post-hoc data from InflaRx (IFRX) shows ulcer volume reductions, but Phase 3 primary endpoint unmet.
InflaRx N.V. (Nasdaq: IFRX) saw its stock price close at $1.02 after a 2.93% decline, triggered by mixed results from the Phase 3 vilobelimab trial in ulcerative pyoderma gangrenosum (PG). The trial, which was halted early for futility, enrolled 54 patients with 30 completing the six-month treatment period. Despite the primary endpoint failure, some post-hoc analyses presented encouraging results, leading to a drop in stock price during regular and after-hours trading.
The trial’s primary endpoint—complete target ulcer closure—showed a 20.8% improvement for vilobelimab compared to 16.7% for the placebo, but this difference was not statistically significant. Post-hoc analyses revealed reductions in ulcer volume, including a 45.4% decrease overall and a 63.2% decrease by Week 26. These data suggest a potential benefit from vilobelimab treatment despite the early termination.
Post-Hoc Analyses Show Potential for Vilobelimab
The post-hoc analyses of the trial revealed several positive outcomes, particularly in the reduction of ulcer volume. The 45.4% overall reduction in target ulcer volume was statistically significant (p=0.0428), showing potential for longer-term benefits. Weekly comparisons showed that by Week 26, the reduction reached 63.2%, further supporting the hypothesis of vilobelimab’s potential effectiveness in PG.
Additional analysis using ANCOVA showed that both the volume and area of ulcers significantly improved for patients treated with vilobelimab. The p-values of 0.0111 for volume and 0.0072 for area indicate a substantial reduction in ulcer size over the treatment period. These findings suggest that with extended treatment, vilobelimab could offer continued benefits in PG patients, which are important for future development considerations.
Safety and Future Plans for Vilobelimab
Vilobelimab demonstrated a manageable safety profile in the Phase 3 trial. Serious treatment-emergent adverse events (TEAEs) were similar between vilobelimab and placebo groups, with 6.3% of vilobelimab-treated patients experiencing serious TEAEs compared to 4.5% in the placebo group. This safety data aligns with prior studies and suggests vilobelimab is well-tolerated for most patients with PG.
InflaRx plans to meet with the FDA to discuss the next steps for vilobelimab in PG, including the possibility of using alternative endpoints in future trials. The company also announced that it would not allocate significant resources toward PG development on its own, focusing instead on advancing izicopan (INF904). Future PG studies would likely be conducted in collaboration with a partner, as the company aims to prioritize its other development programs.
In conclusion, while the Phase 3 trial failed to meet its primary endpoint, post-hoc analyses suggest that vilobelimab could still have potential in the treatment of PG. InflaRx’s future efforts will focus on strategic collaborations and FDA discussions to determine the best way forward for this promising therapy.


