InflaRx (NASDAQ:IFRX) stock is getting a boost on Wednesday following an update from the Food and Drug Administration (FDA) concerning its Covid-19 treatment.
The big news investors are celebrating today is vilobelimab getting Emergency Use Authorization (EUA) from the FDA. This allows the treatment to be used on patients “within 48 hours of receiving invasive mechanical ventilation (IMV), or extracorporeal membrane oxygenation (ECMO).”
InflaRx notes that vilobelimab got its EUA following positive results from a Phase III clinical trial. That includes a reduction in 28-day all-cause mortality of 23.9% when compared to a placebo.
Prof. Renfeng Guo, M.D., Chief Scientific Officer and founder of InflaRx, said the following about the news:
“This EUA is a great recognition of our COVID-19-related research, which was based on over two decades of groundbreaking work on the tissue and organ-damaging effect of the complement factor C5a as part of the body’s immune response.”
How This Affects IFRX Stock
With this EUA under its belt, InflaRx is closer to getting vilobelimab in hospitals to treat patients. The company also notes that it intends to expand its research of the treatment to determine more effects for it.
Today’s news as brings heavy trading to IFRX stock with some 24 million shares on the move. To put that in perspective, the company’s daily average trading volume is about 332,000 shares. IFRX stock is up 51.5% as of Wednesday morning.
There’s more stock market news worth reading below!
We’ve got all of the latest stock market coverage traders need to know about on Wednesday! Among that is what has shares of artificial intelligence (AI) stocks moving, as well as the latest on Johnson & Johnson (NYSE:JNJ) stock, and more. All of that news is ready to go below!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
