InflaRx registers up to $65,000,000 more in shares for sales program

InflaRx N.V. filed a prospectus supplement on August 14, 2026 registering additional ordinary shares with an aggregate offering price of up to $65,000,000. The shares may be sold from time to time through or to Leerink Partners LLC, acting as the company's agent, under a sales agreement dated June 28, 2024. The supplement sits on a base prospectus dated August 12, 2026. The ordinary shares, with a nominal value of €0.12 per share, trade on the Nasdaq Global Select Market as IFRX. The last sale price was $1.77 on August 5, 2026 and $2.01 on August 13, 2026.

What the program allows

Sales are made as at-the-market offerings, directly on or through Nasdaq or to or through a market maker. Leerink Partners is not required to sell any specific amount and will use commercially reasonable efforts. No funds are held in escrow, trust or a similar arrangement. Leerink is entitled to a commission of up to 3.0% of the gross proceeds from shares it sells, and the supplement says it may be deemed an underwriter under the Securities Act. InflaRx has agreed to indemnify Leerink and provide contribution for certain liabilities.

The company says it intends to use the net proceeds, together with its other cash resources, mainly to fund research and development for clinical and preclinical work and for working capital and general corporate purposes. The supplement says the number of shares that may be sold cannot be predicted at this stage, because it depends on the market price at the time of each sale.

InflaRx filed a Form F-3 shelf registration statement on August 6, 2026. The SEC declared it effective on August 13, 2026, and the supplement is filed under Registration No. 333-298039.

Agents, counsel and the share count

Leerink Partners LLC is the only agent named in the supplement. The supplement names no underwriter and no financial advisor. Davis Polk & Wardwell LLP, of New York, is U.S. federal and New York State law counsel to Leerink Partners. NautaDutilh N.V. passes on the validity of the ordinary shares and certain Dutch law matters for InflaRx. Kirkland & Ellis LLP, of New York, passes on certain U.S. federal and New York State law matters for the company.

The share count in the supplement is based on the number of ordinary shares outstanding as of June 30, 2026, and it excludes 14,887,948 shares issuable on options outstanding that day. As of June 30, 2026, the supplement puts the market value of shares held by non-affiliates at about $269,050,484. That figure rests on 120,111,823 non-affiliate shares at $2.24 per share, the last sale price on that date.

The supplement's risk factors say sales under the shelf could push the share price down and dilute existing holders, and that new investors could gain rights superior to those of current shareholders in some cases.

Products and what the filing says is next

The supplement says InflaRx stopped active sales of GOHIBIC in December 2025 but kept the product available for ordering. As of June 30, 2026, the company had received notice from the FDA that the emergency use authorization for GOHIBIC will be terminated. The termination takes effect 12 months after the Federal Register notice is published, which the supplement gives as July 1, 2027.

The company says it will seek commercial partners for GOHIBIC and assess development options for vilobelimab. The supplement does not give dates for either step, and it does not say whether the Leerink program will be used at a particular pace or price. Those are the open questions for the next filings.

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