Shares of InflaRx (NASDAQ:IFRX) are surging higher today, which can be attributed to the company amending its agreement with Staidson BioPharmaceuticals. Both companies are attempting to get regulatory approval for IFRX’s COVID-19 treatment in China.
The new deal will see IFRX receive a 10% royalty on net sales of the treatment. In addition, Staidson will buy $2.5 million worth of IFRX shares at a price of $5 per share, with the option to buy $7.5 million more.
Overall, Wall Street analysts have a consensus price target of $6.67 on IFRX stock, implying 158.53% upside potential, as indicated by the graphic above.
