12 Best Penny Stocks Under $1 to Buy Now

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10. InflaRx (NASDAQ:IFRX)

Share Price as of July 22: $0.84

Number of Hedge Fund Holders: 11

InflaRx (NASDAQ:IFRX) is one of the best penny stocks under $1 to buy now. As May came to an end, InflaRx announced that its Phase 3 trial for vilobelimab in pyoderma gangrenosum/PG would be discontinued due to futility. The recommendation came from the Independent Data Monitoring Committee/IDMC after an unblinded interim analysis of data from the first 30 enrolled patients.

The IDMC noted no unexpected adverse events. Following the recommendation, InflaRx intends to halt further development of vilobelimab for the PG indication. The company will now re-prioritize its resources on INF904, which is an orally administered small molecule inhibitor of C5a-induced signaling via the C5a receptor. Topline Phase 2a data readouts for INF904 in chronic spontaneous urticaria/CSU and hidradenitis suppurativa/HS are anticipated in the summer of 2025.

GOHIBIC (vilobelimab) remains available in the US under an Emergency Use Authorization/EUA granted by the FDA. The authorization is for the treatment of COVID-19 in hospitalized adults when initiated within 48 hours of receiving invasive mechanical ventilation/IMV or extracorporeal membrane oxygenation/ECMO. Vilobelimab is a first-in-class, intravenously delivered, anti-C5a monoclonal antibody that selectively blocks free C5a, which is a potent inflammatory mediator.

InflaRx (NASDAQ:IFRX) is a clinical-stage biopharmaceutical company that discovers and develops inhibitors using C5a technology in Germany and the US.

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