By Elias Schisgall

Shares of InflaRx rose after the biopharmaceutical company said it is advancing development of izicopan, a kidney-disorder treatment, and said it would raise $150 million through a stock offering.

Shares climbed 29%, to $2.54, Wednesday afternoon. The stock has gained about one-and-a-half times its value this year.

The company said Wednesday that it was conducting Phase 2 planning for izicopan to treat ANCA-associated vasculitis, a life-threatening form of kidney disease.

The German company is also working to establish proof of concept for the drug across other kidney diseases, including atypical hemolytic uremic syndrome, IgA nephropathy and C3 glomerulopathy. It intends to conduct open-label studies that are expected to begin generating clinical data next year.

"We have elected to pursue development in ANCA-associated vasculitis following our thorough evaluation of the high unmet need in this life-threatening disease and izicopan's promise as a significantly differentiated inhibitor of C5aR, with potential advantages in efficacy, safety and convenience," Chief Executive Niels Riedemann said.

The company said it has sufficient funding to execute currently planned development programs through 2029.

It also said it intends to sell 75 million shares at a price of $2 a share in an underwritten offering. Proceeds from the offering would be used to advance pipeline activities, as well as for general corporate purposes, the company said.

The offering is expected to close on Thursday.

Write to Elias Schisgall at elias.schisgall@wsj.com

(END) Dow Jones Newswires

May 06, 2026 13:29 ET (17:29 GMT)

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