- Raymond James remains a Strong Buy on Inflarx NV (NASDAQ: IFRX) following 1Q22 earnings based on a promising outlook for vilobelimab in Pyoderma Gangrenosum (PG) and potentially other indications.
- The biotech macro backdrop has forced many companies to be prudent with cash runway and prioritize clinical programs.
- InflaRx is also focusing on a potential pivotal trial in PG, halting (for now) hidradenitis suppurativa (HS) and ANCA vasculitis programs.
- It is also discussing COVID data with regulators to see if Phase 3 data supports authorization.
- The decision extends the cash runway well into 2H 2024. The company closed the quarter with a cash balance of €99.3 million.
- The analysts removed risk-adjusted ANCA vasculitis revenues from its model, dropping PoS in HS to 5% and adding PG (40% PoS, peak risk-adjusted revenues of $313 million).
- They also lowered the operating expenses based on capital conservation from halting HS and ANCA development. Collectively, the changes move the price target to $7 from $15.
- Price Action: IFRX shares are trading at $1.46 during the market session on the last check Friday.
Bright Health Gr Q4 EPS $1.29 May Not Compare To $(0.45) Estimate, Sales $962.30M Miss $1.08B Estimate
Bright Health Gr (NYSE:BHG) reported quarterly earnings of $1.29 per share which beat the analyst consensus estimate of $(0.45) by 386.67 percent. The company reported quarterly sales of $962.30 million which missed the
