IFRX - Why InflaRx Stock Skyrocketed This Week
2023-04-07 10:21:36 ET
InflaRx (NASDAQ: IFRX) stock soared this week on news that one of the company's treatments for COVID-19 had received Emergency Use Authorization (EUA) from the Food and Drug Administration (FDA). The company's share price closed out the shortened trading week up 183.5%, according to data from S&P Global Market Intelligence .
InflaRx published a press release on April 4 announcing that its Gohibic drug had received EUA for the treatment of COVID patients within 48 hours of being put on mechanical ventilation. The EUA designation represents a big win for the clinical-stage biopharmaceutical company and has the potential to be a significant revenue generator in the near future.
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Why InflaRx Stock Skyrocketed This Week