InflaRx N.V. (NASDAQ: IFRX)

Sector: Healthcare Industry: Biotechnology CIK: 0001708688
Market Cap 56.81 Mn
P/B 1.06
P/E -1.20
P/S 768.49
ROIC (Qtr) -73.91
Div Yield % 0.00
Rev 1y % (Qtr) -79.62
Total Debt (Qtr) 1.14 Mn
Debt/Equity (Qtr) 0.02
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About

InflaRx N.V., a clinical-stage biopharmaceutical company, is focused on developing first-in-class, potent, and specific inhibitors of the complement activation factor known as C5a and small molecule inhibitors of C5aR. The company's lead product candidate, vilobelimab, is a novel intravenously delivered first-in-class anti-C5a monoclonal antibody that selectively binds to free C5a and has demonstrated disease-modifying clinical activity and tolerability in multiple clinical settings. InflaRx is developing vilobelimab for the treatment of several...

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Investment thesis

Bull case

  • Healthy cash reserves of 7.59M provide 23.82x coverage of short-term debt 318491.76, demonstrating strong liquidity position and minimal refinancing risk.
  • Strong tangible asset base of 76.60M provides 67.07x coverage of total debt 1.14M, indicating robust asset backing and low credit risk.
  • Tangible assets of 76.60M provide robust 6.81x coverage of other current liabilities 11.24M, indicating strong asset backing.
  • Cash reserves of 7.59M provide solid 174.85x coverage of other non-current liabilities 43384.71, indicating strong liquidity.
  • Short-term investments of 44.94M provide 141.10x coverage of short-term debt 318491.76, showing strong liquidity management.

Bear case

  • Investment activities of (3.17M) provide weak support for R&D spending of 32.19M, which is -0.10x, suggesting potentially insufficient investment in innovation relative to other capital deployment.
  • Free cash flow of (50.16M) provides weak coverage of capital expenditures of 153557.65, with a -326.64 ratio suggesting additional external financing needs for growth initiatives.
  • Short-term investments of 44.94M significantly exceed cash reserves of 7.59M, which is 5.92x, indicating potentially excessive yield-seeking behavior at the expense of liquidity.
  • Operating cash flow of (50M) provides minimal -3460.64x coverage of tax expenses of 14449.41, suggesting potential tax planning inefficiencies or unsustainable tax positions.
  • The company's operating cash flow of (50M) shows concerning coverage of stock compensation expenses of 5.32M, with a -9.39 ratio indicating potential earnings quality issues.

Peer comparison

Companies in the Biotechnology
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 SMMT Summit Therapeutics Inc. 1,204.25 Bn -1,306.67 0.00 0.01 Bn
2 ONC BeOne Medicines Ltd. 486.51 Bn 7,097.20 97.84 1.90 Bn
3 VRTX Vertex Pharmaceuticals Inc / Ma 122.05 Bn 30.87 10.17 1.85 Bn
4 REGN Regeneron Pharmaceuticals, Inc. 83.00 Bn 18.42 5.79 2.71 Bn
5 ARGX Argenx Se 50.78 Bn 33.71 26,480.10 -
6 ALNY Alnylam Pharmaceuticals, Inc. 43.66 Bn 139.17 11.76 2.97 Bn
7 BNTC Benitec Biopharma Inc. 43.61 Bn -941.82 0.00 0.00 Bn
8 INSM INSMED Inc 28.88 Bn -24.40 64.61 0.74 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 0.73 11.06
EV to Cash from Ops. EV/CFO -1.12 26.32
EV to Debt EV to Debt 48.91 762.61
EV to EBIT EV/EBIT -1.19 -13.49
EV to EBITDA EV/EBITDA -1.06 8.61
EV to Free Cash Flow [EV/FCF] EV/FCF -1.11 25.66
EV to Market Cap EV to Market Cap 0.98 203.37
EV to Revenue EV/Rev 755.65 156.31
Price to Book Value [P/B] P/B 1.06 20.59
Price to Earnings [P/E] P/E -1.20 -0.88
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Dividend Coverage Ratio 0.00 -12.64
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 0.17
Dividend per Basic Share Div per Share (Qtr) 0.00 0.01
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 -0.14
Interest Coverage Int. cover (Qtr) -1,507.37 956.66
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) -112.13 7.87
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) -73.95 753.48
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 0.01
EBIAT Growth (1y) % EBIAT 1y % (Qtr) 25.35 -57.63
EBITDA Growth (1y) % EBITDA 1y % (Qtr) 15.50 8.83
EBIT Growth (1y) % EBIT 1y % (Qtr) 25.37 -67.21
EBT Growth (1y) % EBT 1y % (Qtr) 25.37 -23.74
EPS Growth (1y) % EPS 1y % (Qtr) 35.83 -7.02
FCF Growth (1y) % FCF 1y % (Qtr) 5.17 -40.48
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) -804.69 264.51
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 0.00 0.14
Cash Payout Ratio Cash Payout Ratio 0.00 0.00
Cash Ratio Cash Ratio (Qtr) 0.34 3.92
Current Ratio Curr Ratio (Qtr) 3.33 7.33
Debt to Equity Ratio Debt/Equity (Qtr) 0.02 0.48
Interest Cover Ratio Int Coverage (Qtr) -1,507.37 956.66
Times Interest Earned Times Interest Earned (Qtr) -1,507.37 956.66
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) -63,057.90 -17,888.70
EBIT Margin % EBIT Margin % (Qtr) -54,193.67 -18,246.34
EBT Margin % EBT Margin % (Qtr) -63,799.36 -19,108.08
Gross Margin % Gross Margin % (Qtr) -8,223.10 -10.30
Net Profit Margin % Net Margin % (Qtr) -63,818.90 -19,056.96