InflaRx N.V 6-K, filed May 8, 2024

InflaRx N.V. (IFRX)

6-K 2024-05-08 For: 2024-05-08

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Added on April 09, 2026

About this 6-K

InflaRx N.V filed this 6-K on May 8, 2024.

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Exhibit No.		Description
99.1		InflaRx N.V. Unaudited Condensed Consolidated Financial Statements as of and for the Three Months Ended March 31, 2024
99.2		InflaRx N.V. Management’s Discussion and Analysis of Financial Condition and Results of Operations
99.3		InflaRx N.V. Press Release dated May 8, 2024

	INFLARX N.V.

Date: May 8, 2024	By:	/s/ Niels Riedemann
	Name:	Niels Riedemann
	Title:	Chief Executive Officer

Unaudited condensed consolidated statements of operations and comprehensive loss for the three months ended March 31, 2024 and 2023		F-3
Unaudited condensed consolidated statements of financial position as of March 31, 2024 and December 31, 2023		F-4
Unaudited condensed consolidated statements of changes in shareholders’ equity for the three months ended March 31, 2024 and 2023		F-5
Unaudited condensed consolidated statements of cash flows for the three months ended March 31, 2024 and 2023		F-6
Notes to the unaudited condensed consolidated financial statements		F-7
1.	Summary of significant accounting policies and other disclosures	F-7
a) Reporting entity and the Group’s structure		F-7
b) Basis of preparation		F-7
2.	Revenues	F-8
3.	Cost of Sales	F-8
4.	Research and development expenses	F-8
5.	Other income	F-8
6.	Net financial result	F-9
7.	Inventory	F-9
8.	Other assets	F-9
9.	Tax receivable	F-10
10.	Financial assets and financial liabilities	F-10
11.	Other liabilities	F-10
12.	Cash and cash equivalents	F-11
13.	Share-based payments	F-11
a) Equity settled share-based payment arrangements		F-11
b) Share-based payment expense recognized		F-12
c) Share options exercised		F-12
14.	Protective foundation	F-12

		For the three months ended March 31,
	Note	2024 (unaudited)			2023 (unaudited)
		(in €, except for share data)

Revenues	2		36,037			—
Cost of sales	3		(220,521	)		—
Gross profit			(184,484	)		—
Sales and marketing expenses			(1,459,539	)		—
Research and development expenses	4		(7,301,810	)		(14,731,908	)
General and administrative expenses			(3,579,150	)		(3,608,554	)
Other income	5		36,323			7,746,189
Other expenses			(30	)		(566	)
Operating result			(12,488,690	)		(10,594,839	)
Finance income	6		908,426			456,036
Finance expenses	6		(4,632	)		(5,528	)
Foreign exchange result	6		1,824,375			(1,137,310	)
Other financial result	6		103,285			197,808
Income taxes			—			—
Income (loss) for the period			(9,657,236	)		(11,083,833	)
Other comprehensive income (loss) that may be reclassified to profit or loss in subsequent periods:
Exchange differences on translation of foreign currency			(25,538	)		(16,785	)
Total comprehensive income (loss)			(9,682,774	)		(11,100,618	)

Share information (based on income (loss) for the period)
Weighted average number of shares outstanding			58,883,272			44,771,703
Income (loss) per share (basic/diluted)			(0.17	)		(0.25	)

	Note	March 31, 2024 (unaudited)			December 31, 2023
		(in €)
ASSETS
Non-current assets
Property and equipment			284,043			289,577
Right-of-use assets			1,056,966			1,071,666
Intangible assets			52,145			68,818
Other assets	8		244,009			257,267
Financial assets	10		2,490,202			9,052,741
Total non-current assets			4,127,365			10,740,069
Current assets
Inventories	7		11,048,645			11,367,807
Current other assets	8		5,869,744			4,036,650
Trade receivables	8		35,242			—
Tax receivable	9		2,098,276			3,791,564
Other financial assets	10		58,812,905			77,504,518
Cash and cash equivalents	12		25,103,058			12,767,943
Total current assets			102,967,870			109,468,483
TOTAL ASSETS			107,095,235			120,208,552

EQUITY AND LIABILITIES
Equity
Issued capital			7,065,993			7,065,993
Share premium			334,211,338			334,211,338
Other capital reserves			41,910,754			40,050,053
Accumulated deficit			(295,785,055	)		(286,127,819	)
Other components of equity			7,356,629			7,382,166
Total equity			94,759,658			102,581,730
Non-current liabilities
Lease liabilities			727,058			745,716
Other liabilities			36,877			36,877
Total non-current liabilities			763,935			782,593
Current liabilities
Trade and other payables	10		7,607,757			11,974,362
Lease liabilities			378,089			374,329
Employee benefits			637,607			1,609,766
Other liabilities	11		2,948,189			2,885,772
Total current liabilities			11,571,642			16,844,229
Total liabilities			12,335,577			17,626,822
TOTAL EQUITY AND LIABILITIES			107,095,235			120,208,552

(in €, except for share data)	Note	Shares outstanding		Issued capital		Share premium		Other capital reserves		Accumulated deficit			Other components of equity			Total equity

Balance as of January 1, 2024			58,883,272		7,065,993		334,211,338		40,050,053		(286,127,819	)		7,382,166			102,581,730
Loss for the period			—		—		—		—		(9,657,236	)		—			(9,657,236	)
Exchange differences on translation of foreign currency			—		—		—		—		—			(25,538	)		(25,538	)
Total comprehensive loss			—		—		—		—		(9,657,236	)		(25,538	)		(9,682,774	)
Equity-settled share-based payments	13		—		—		—		1,860,701		—			—			1,860,701
Balance as of March 31, 2024*			58,883,272		7,065,993		334,211,338		41,910,754		(295,785,055	)		7,356,629			94,759,658

Balance as of January 1, 2023			44,703,763		5,364,452		282,552,633		36,635,564		(243,460,290	)		7,257,081			88,349,440
Loss for the period			—		—		—		—		(11,083,833	)		—			(11,083,833	)
Exchange differences on translation of foreign currency			—		—		—		—		—			(16,785	)		(16,785	)
Total comprehensive loss			—		—		—		—		(11,083,833	)		(16,785	)		(11,100,618	)
Equity-settled share-based payments	13		—		—		—		1,207,048		—			—			1,207,048
Share options exercised			71,234		8,548		115,399		—		—			—			123,947
Balance as of March 31, 2023*			44,774,997		5,373,000		282,668,032		37,842,612		(254,544,123	)		7,240,295			78,579,816

	For the three months ended March, 31,
	2024 (unaudited)		2023 (unaudited)
	(in €)
Other income
Income from government grants		—		7,734,855
Other		36,323		11,334
Total		36,323		7,746,189

	For the three months ended March 31, 2024
	2024 (unaudited)			2023 (unaudited)
	(in €)

Interest income		908,426			456,036
Interest expenses		(439	)		(420	)
Interest on lease liabilities		(4,193	)		(5,108	)
Finance Result		903,794			450,508

Foreign exchange income		2,049,582			290,525
Foreign exchange expense		(225,207	)		(1,427,835	)
Foreign exchange result		1,824,375			(1,137,310	)

Other financial result		103,285			197,808
Net financial result		2,831,454			(488,994	)

	As of March 31, 2024 (unaudited)		As of December 31, 2023
	(in €)

Raw material and supplies		423,560		423,560
Unfinished goods		10,515,518		10,614,159
Finished goods		109,566		330,087
Total		11,048,645		11,367,807

Number of share options	2024		2023
Outstanding as of January 1,		148,433		148,433
Exercised during the three months ended March 31,		—		—
Outstanding as of March 31,		148,433		148,433
thereof vested		148,433		148,433

Share options granted 2024	Number		Fair value per option		FX rate as of grant date		Fair value per option		Share price at grant date / Exercise price		Expected volatility		Expected life (midpoint based)		Risk-free rate (interpolated, U.S. sovereign strips curve)
January 5		2,245,000	$	1.65		0.916	€	1.51	$	1.79		1.47		5.30 - 5.50		4.023%- 4.025%
February 21		30,000	$	1.40		0.925	€	1.30	$	1.51		1.47		5.50		4.308	%
		2,275,000

	three months ended March 31,
	2024			2023			Change
	(in €)
Revenues		36,037			—			36,037
Cost of Sales		(220,521	)		—			(220,521	)
Gross profit		(184,484	)		—			(184,484	)
Operating expenses
Sales and marketing expenses		(1,459,539	)		—			(1,459,539	)
Research and development expenses		(7,301,810	)		(14,731,908	)		7,430,098
General and administrative expenses		(3,579,150	)		(3,608,554	)		29,404
Total operating expenses		(12,340,499	)		(18,340,462	)		5,999,963
Other income		36,323			7,746,189			(7,709,866	)
Other expenses		(30	)		(566	)		536
Operating result		(12,488,690	)		(10,594,839	)		(1,893,851	)
Finance income		908,426			456,036			452,390
Finance expenses		(4,632	)		(5,528	)		896
Foreign exchange result		1,824,375			(1,137,310	)		2,961,685
Other financial result		103,285			197,808			(94,523	)
Income (loss) for the period		(9,657,236	)		(11,083,833	)		1,426,597
Exchange differences on translation of foreign currency		(25,538	)		(16,785	)		(8,753	)
Total comprehensive income (loss)		(9,682,774	)		(11,100,618	)		1,417,844

	For the three months ended March 31,
	2024 (unaudited)			2023 (unaudited)
	(in €, except for share data)

Revenues		36,037			—
Cost of sales		(220,521	)		—
Gross profit		(184,484	)		—
Sales and marketing expenses		(1,459,539	)		—
Research and development expenses		(7,301,810	)		(14,731,908	)
General and administrative expenses		(3,579,150	)		(3,608,554	)
Other income		36,323			7,746,189
Other expenses		(30	)		(566	)
Operating result		(12,488,690	)		(10,594,839	)
Finance income		908,426			456,036
Finance expenses		(4,632	)		(5,528	)
Foreign exchange result		1,824,375			(1,137,310	)
Other financial result		103,285			197,808
Income taxes		—			—
Income (loss) for the period		(9,657,236	)		(11,083,833	)
Other comprehensive income (loss) that may be reclassified to profit or loss in subsequent periods:
Exchange differences on translation of foreign currency		(25,538	)		(16,785	)
Total comprehensive income (loss)		(9,682,774	)		(11,100,618	)

Share information (based on income (loss) for the period)
Weighted average number of shares outstanding		58,883,272			44,771,703
Income (loss) per share (basic/diluted)		(0.17	)		(0.25	)

	March 31, 2024 (unaudited)			December 31, 2023
	(in €)
ASSETS
Non-current assets
Property and equipment		284,043			289,577
Right-of-use assets		1,056,966			1,071,666
Intangible assets		52,145			68,818
Other assets		244,009			257,267
Financial assets		2,490,202			9,052,741
Total non-current assets		4,127,365			10,740,069
Current assets
Inventories		11,048,645			11,367,807
Current other assets		5,869,744			4,036,650
Trade receivables		35,242			—
Tax receivable		2,098,276			3,791,564
Other financial assets		58,812,905			77,504,518
Cash and cash equivalents		25,103,058			12,767,943
Total current assets		102,967,870			109,468,483
TOTAL ASSETS		107,095,235			120,208,552

EQUITY AND LIABILITIES
Equity
Issued capital		7,065,993			7,065,993
Share premium		334,211,338			334,211,338
Other capital reserves		41,910,754			40,050,053
Accumulated deficit		(295,785,055	)		(286,127,819	)
Other components of equity		7,356,629			7,382,166
Total equity		94,759,658			102,581,730
Non-current liabilities
Lease liabilities		727,058			745,716
Other liabilities		36,877			36,877
Total non-current liabilities		763,935			782,593
Current liabilities
Trade and other payables		7,607,757			11,974,362
Lease liabilities		378,089			374,329
Employee benefits		637,607			1,609,766
Other liabilities		2.948.189			2,885,772
Total current liabilities		11,571,642			16,844,229
Total liabilities		12,335,557			17,626,822
TOTAL EQUITY AND LIABILITIES		107,095,235			120,208,552

(in €)	Issued capital		Share premium		Other capital reserves		Accumulated deficit			Other components of equity			Total equity

Balance as of January 1, 2024		7,065,993		334,211,338		40,050,053		(286,127,819	)		7,382,166			102,581,730
Loss for the period		—		—		—		(9,657,236	)		—			(9,657,236	)
Exchange differences on translation of foreign currency		—		—		—		—			(25,538	)		(25,538	)
Total comprehensive loss		—		—		—		(9,657,236	)		(25,538	)		(9,682,774	)
Equity-settled share-based payments		—		—		1,860,701		—			—			1,860,701
Balance as of March 31, 2024		7,065,993		334,211,338		41,910,754		(295,785,055	)		7,356,629			94,759,658

Balance as of January 1, 2023		5,364,452		282,552,633		36,635,564		(243,460,290	)		7,257,081			88,349,440
Loss for the period		—		—		—		(11,083,833	)		—			(11,083,833	)
Exchange differences on translation of foreign currency		—		—		—		—			(16,785	)		(16,785	)
Total comprehensive loss		—		—		—		(11,083,833	)		(16,785	)		(11,100,618	)
Equity-settled share-based payments		—		—		1,207,048		—			—			1,207,048
Share options exercised		8,548		115,399		—		—			—			123,947
Balance as of March 31, 2023		5,373,000		282,668,032		37,842,612		(254,544,123	)		7,240,295			78,579,816

	As of March 31, 2024 (unaudited)		As of December 31, 2023
	(in €)
Short-term deposits
Deposits held in U.S. dollars		15,741,977		4,120,951
Deposits held in euros		2,555,000		1,020,000
Total		18,296,977		5,140,951
Cash at banks
Cash held in U.S. dollars		5,469,183		5,041,802
Cash held in euros		1,336,898		2,585,190
Total		6,806,081		7,626,991
Total cash and cash equivalents		25,103,058		12,767,942

Jan Medina, CFA	MC Services AG
Vice President, Head of Investor Relations	Katja Arnold, Laurie Doyle, Dr. Regina Lutz
Email: IR@inflarx.de	Email: inflarx@mc-services.eu
	Europe: +49 89-210 2280
	U.S.: +1-339-832-0752