InflaRx N.V. (NASDAQ: IFRX) shares jumped early on Wednesday after the company announced that it has enrolled its first patient into a clinical trial for the treatment of severe COVID-19-induced pneumonia. Specifically, the trial is testing the safety and efficacy of IFX-1, the company’s monoclonal anti-C5a antibody.

The company received initial positive human data from two initial patients suffering from COVID-19-induced severe pneumonia who were treated with BDB-001, an anti-C5a antibody produced by BDB from the IFX-1 cell line, in China. Data from the two patients are part of a larger investigation on the role of complement activation in COVID-19 that have been made publicly available through a preprint server and have not been independently validated by InflaRx.

Based on the company’s existing preclinical research on the role of C5a in viral-induced pneumonia and the initial results from the BDB study, InflaRx has decided to initiate a clinical development program with IFX-1 in COVID-19 patients with severely progressed pneumonia.

The company has received regulatory approval to start the trial in the Netherlands and enrolled the first patient at the Amsterdam University Medical Centers. Subject to regulatory approval, the company plans to initiate additional centers in Germany and potentially other European countries.

With regard to InflaRx’s other ongoing clinical trials, the company is monitoring the impact of COVID-19 on its programs. The company’s current clinical trial sites remain active; however, it is possible that sites have paused or will pause screening of new patients, and there may be other delays or consequences as the pandemic evolves.

InflaRx stock traded early Wednesday up 69% at $6.47, with a 52-week range of $2.17 to $53.10. The consensus price target was $3.68.

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