your badges 52W Range $1–$3 43% of range Analyst Rating BUY 14 analysts Price Target $8 +350% upside P/E -1.5 ROE -624.6% Net Profit Margin -155582.1%

IFRX Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

03
Price $1.72
P/E -1.5
EPS $-0.68
Revenue $29.3K
ROE -624.6%
52W Range $1–$3

IFRX Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

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10-Year Performance Revenue, net income, margins and EPS trends

06
Revenue$29.3K
2023-12-31 → 2025-12-31
EPS$-0.68
2016-12-31 → 2025-12-31
Net margin-155582.1%
2023-12-31 → 2025-12-31
Valuation & Ratios 07–12

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric 5Y trend IFRX 5Y avg Peer Median Verdict
P/E -1.55Y avg ≈-3.1 ≈-3.1 · ·

Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.

value · ≈ 5Y avg · industry median · verdict relative to median

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

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Avg Surprise 8.0%
Next Report Nov 09, 2026
PeriodReportEPS ActualEPS EstSurprise
June 30, 2026 Aug 5, 2026 $-0.09 $-0.06 -51.3%
March 31, 2026 $-0.08 $-0.12 33.7%
Dec. 31, 2025 $-0.15 $-0.15 2.0%
Sept. 30, 2025 $-0.18 $-0.15 -16.5%
June 30, 2025 $-0.21 $-0.19 -11.3%
March 31, 2025 $-0.13 $-0.19 30.7%
Dec. 31, 2024 $-0.08 $-0.26 68.6%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

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Income Statement 15
Metric Trend 202520242023
Revenue $29.3K$165.8K$63.1K
Cost of Revenue $7M$3M$532.3K
Gross Profit $-7M$-3M$-469.2K
R&D Expense $26M$35M$41M
SG&A Expense $16.0K$41.4K$95.2K
Operating Income ··$-45M
Interest Expense $2.7K$885$16.5K
Interest Income $2M$3M$4M
Pretax Income $-46M$-46M$-43M
Income Tax $12.3K$5.2K·
Net Income $-46M$-46M$-43M
EPS (Basic) $-0.68$-0.78$-0.78
EPS (Diluted) $-0.68$-0.78$-0.78
Shares (Basic) 67,288,32158,919,95854,940,137
EBITDA ··$-45M
Balance Sheet 10
Metric Trend 202520242023
Cash & Equivalents $1M$4M$8M
Inventory ·$7M$11M
Current Assets $54M$72M$109M
PP&E (Net) $289.3K$256.3K$289.6K
Total Assets $55M$76M$120M
Accounts Payable $5M$11M$12M
Current Liabilities $13M$14M$17M
Total Liabilities $14M$15M$18M
Retained Earnings $-378M$-332M$-286M
Stockholders' Equity $7M$7M$7M
Cash Flow 3
Metric Trend 202520242023
Operating Cash Flow $-35M$-49M$-38M
Investing Cash Flow $3M$52M$-18M
Financing Cash Flow $33M$386.4K$53M
Profitability 7
Metric Trend 202520242023
Gross Margin -24677.9%-1900.8%-743.7%
Operating Margin ··-71182.1%
Net Margin -155582.1%-27785.0%-67630.7%
Pretax Margin -155540.2%-27781.8%-67630.7%
EBITDA Margin ··-71182.1%
ROA -69.5%-46.9%-38.3%
ROE -624.6%-621.5%-582.9%
Liquidity & Solvency 3
Metric Trend 202520242023
Current Ratio 4.15.16.5
Quick Ratio 0.10.30.5
Interest Coverage ··-2715.4
Efficiency 2
Metric Trend 202520242023
Asset Turnover 0.00.00.0
Inventory Turnover ·0.40.1
Per Share 1
Metric Trend 202520242023
EPS (TTM) $-0.68$-0.78$-0.78
Valuation (TTM) 4
Metric Trend 202520242023
Revenue TTM $29.3K$165.8K$63.1K
Net Income TTM $-46M$-46M$-43M
P/E -1.5-3.2-2.1
Earnings Yield -67.3%-31.6%-47.9%

Most recent period on the left · null values shown as ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

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Metric 2025-12-312024-12-312023-12-312022-12-312021-12-31
Revenue $29.3K $165.8K $63.1K · ·
Gross Margin % -24677.9% -1900.8% -743.7% · ·
Operating Margin % · · -71182.1% · ·
Net Income $-46M $-46M $-43M $-29M $-46M
Diluted EPS $-0.68 $-0.78 $-0.78 $-0.67 $-1.10

Institutional owners (13F) 67 filers · $211.1M total · As of June 30, 2026

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Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Holders 67
Value held $211.1M
New positions 33
Exited positions 3
Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
33 (+24 vs prior Q) 3 (-2 vs prior Q) 14 (+7 vs prior Q) 9 (-1 vs prior Q) +75.7M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
MONTANOVA CAPITAL, LLC $51,371,958 22,933,910 24.34% Shares
TCG Crossover Management, LLC $32,480,000 14,500,000 15.39% Shares
FMR LLC $18,285,884 8,163,341 8.66% Shares
Commodore Capital LP $16,352,000 7,300,000 7.75% Shares
Spruce Street Capital LP $11,988,924 5,352,198 5.68% Shares
683 Capital Management, LLC $11,345,600 5,065,000 5.37% Shares
FARALLON CAPITAL MANAGEMENT, L.L.C. $7,448,000 3,325,000 3.53% Shares
STEMPOINT CAPITAL LP $7,231,291 3,228,255 3.43% Shares
GREAT POINT PARTNERS LLC $6,824,288 3,046,557 3.23% Shares
ADAR1 Capital Management, LLC $6,720,000 3,000,000 3.18% Shares
Kalehua Capital Management LLC $6,491,003 2,897,769 3.08% Shares
AMERIPRISE FINANCIAL INC $5,763,070 2,572,799 2.73% Shares
Woodline Partners LP $4,716,289 2,105,486 2.23% Shares
Squadron Capital Management LLC $4,480,000 2,000,000 2.12% Shares
Eversept Partners, LP $2,921,115 1,304,069 1.38% Shares
FRANKLIN RESOURCES INC $2,320,904 1,036,118 1.10% Shares
MORGAN STANLEY $2,050,975 915,614 0.97% Shares
Jefferies Financial Group Inc. $1,736,782 775,349 0.82% Shares
MARSHALL WACE, LLP $1,593,304 711,296 0.75% Shares
MILLENNIUM MANAGEMENT LLC $1,270,190 567,049 0.60% Shares
RAYMOND JAMES FINANCIAL INC $844,845 377,163 0.40% Shares
XTX Topco Ltd $751,099 335,312 0.36% Shares
T3 Companies, LLC $741,471 331,014 0.35% Shares
Qube Research & Technologies Ltd $601,030 268,317 0.28% Shares
DCF Advisers, LLC $511,840 228,500 0.24% Shares
TWO SIGMA INVESTMENTS, LP $405,704 181,118 0.19% Shares
Squarepoint Ops LLC $402,333 179,613 0.19% Shares
Quadrature Capital Ltd $348,132 155,416 0.16% Shares
MYDA Advisors LLC $336,000 150,000 0.16% Shares
JANE STREET GROUP, LLC $320,826 143,226 0.15% Shares
CITADEL ADVISORS LLC $312,009 139,290 0.15% Shares
BNP PARIBAS FINANCIAL MARKETS $295,317 131,838 0.14% Shares
Kestra Advisory Services, LLC $212,800 95,000 0.10% Shares
JANE STREET GROUP, LLC $208,768 93,200 0.10% Call option
UBS Group AG $177,258 79,133 0.08% Shares
SIMPLEX TRADING, LLC $142,027 63,405 0.07% Shares
INSIGNEO ADVISORY SERVICES, LLC $134,960 60,250 0.06% Shares
CITADEL ADVISORS LLC $114,016 50,900 0.05% Call option
Invesco Ltd. $98,226 43,851 0.05% Shares
GEODE CAPITAL MANAGEMENT, LLC $97,825 43,672 0.05% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $95,836 42,784 0.05% Shares
FRED ALGER MANAGEMENT, LLC $95,128 42,468 0.05% Shares
Steward Partners Investment Advisory, LLC $56,840 25,375 0.03% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $45,248 20,200 0.02% Call option
AXQ CAPITAL, LP $40,665 18,154 0.02% Shares
China Universal Asset Management Co., Ltd. $35,840 16,000 0.02% Shares
Engineers Gate Manager LP $34,489 15,397 0.02% Shares
Pacifica Partners Inc. $31,688 14,210 0.02% Shares
JANE STREET GROUP, LLC $30,016 13,400 0.01% Put option
CITADEL ADVISORS LLC $28,672 12,800 0.01% Put option

Show all 67 institutional owners →

Activists & 5%+ owners 2 positions

18

Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.

Filer Filed Stake Status Purpose Filing
Renfeng Guo Feb. 18, 2020 · Initial filing Passive investment SEC
Niels Riedemann Feb. 18, 2020 · Initial filing Passive investment SEC

Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.

ETF ownership Held by 1 ETF

20

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund Weight Units As of Source
QQQS · Invesco Exchange-Traded Fund Trust … 0.42% 56,274 SH Oct. 2, 2026 Daily

IFRX Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

21
rating · 14 analysts BUY
Median target $7.87 +357.7%
5 35.7% Strong Buy
7 50.0% Buy
2 14.3% Hold
0 0.0% Sell
0 0.0% Strong Sell

12-Month Price Target

9 analysts · 2026-09-29

Mean target $7.75 +350.4%

← Below all targets Current price $1.72
Low$2.95 Mean$7.75 High$13.78

Peer comparison (GICS sub-industry) Key metrics vs sector peers

22

FY basis, prices as of each company's last fiscal year-end close.

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
IFRX · -1.5 · -155582.1% -624.6% -24677.9%
IMTX · -6.5 · · -37.1% ·
NNNN · 204.6 · 74.1% 27.1% 87.2%
QUCY · · -39.9% -3018.3% -488.3% 72.6%
BNTX · -20.3 · · -5.9% ·

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Source: SEC 20-F filed Mar 20, 2026