InflaRx (IFRX) 6-K 8 Aug 24 Report of Foreign Private Issuer Financial data

Document And Entity Information

Document And Entity Information	6 Months Ended
	Jun. 30, 2024
Document Information Line Items
Entity Registrant Name	InflaRx N.V.
Document Type	6-K
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Entity Central Index Key	0001708688
Document Period End Date	Jun. 30, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Entity File Number	001-38283
Entity Address, Address Line One	Winzerlaer Str. 2
Entity Address, Postal Zip Code	07745
Entity Address, City or Town	Jena
Entity Address, Country	DE

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - EUR (€)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Profit or Loss [abstract]
Revenues	€ 6,357		€ 42,394
Cost of sales	(348,153)		(568,674)
Gross profit	(341,796)		(526,280)
Sales and marketing expenses	(1,828,628)	(276,051)	(3,288,167)	(276,051)
Research and development expenses	(10,016,870)	(10,919,595)	(17,318,680)	(25,651,503)
General and administrative expenses	(3,226,098)	(3,540,805)	(6,805,249)	(7,149,359)
Other income	16,730	4,882,908	53,023	12,629,096
Other expenses		(2,624)		(3,190)
Operating result	(15,396,663)	(9,856,168)	(27,885,353)	(20,451,007)
Finance income	848,243	1,087,011	1,754,148	1,543,047
Finance expenses	(8,732)	(5,052)	(10,844)	(10,580)
Foreign exchange result	711,411	767,646	2,535,787	(369,664)
Other financial result		(195,567)	103,285	2,241
Income taxes
Income (loss) for the period	(13,845,741)	(8,202,130)	(23,502,977)	(19,285,963)
Other comprehensive income (loss) that may be reclassified to profit or loss in subsequent periods:
Exchange differences on translation of foreign currency	28,374	(330)	2,836	(17,116)
Total comprehensive income (loss)	€ (13,817,367)	€ (8,202,460)	€ (23,500,141)	€ (19,303,079)
Share information (based on income (loss) for the period)
Weighted average number of shares outstanding (in Shares)	58,883,272	56,985,734	58,883,272	50,912,459
Income (loss) per share (basic) (in Euro per share)	€ (0.24)	€ (0.14)	€ (0.4)	€ (0.38)

Unaudited Condensed Consolida_2

Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) (Parentheticals) - € / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Profit or Loss [abstract]
Income (Loss) per share (diluted)	€ (0.24)	€ (0.14)	€ (0.40)	€ (0.38)

Unaudited Condensed Consolida_3

Unaudited Condensed Consolidated Statements of Financial Position - EUR (€)	Jun. 30, 2024		Dec. 31, 2023
Non-current assets
Property and equipment	€ 272,446		€ 289,577
Right-of-use assets	950,070		1,071,666
Intangible assets	44,876		68,818
Other assets	230,750		257,267
Financial assets	237,755		9,052,741
Total non-current assets	1,735,897		10,740,069
Current assets
Inventories	9,644,241		11,367,807
Other assets	4,865,751		4,036,650
Trade receivables	23,727
Tax receivables	1,775,404		3,791,564
Financial assets	55,838,699		77,504,518
Cash and cash equivalents	19,152,121		12,767,943
Total current assets	91,299,943		109,468,483
TOTAL ASSETS	93,035,840		120,208,552
Equity
Issued capital	7,065,993		7,065,993
Share premium	334,211,338		334,211,338
Other capital reserves	43,123,867		40,050,053
Accumulated deficit	(309,630,796)		(286,127,819)
Other components of equity	7,385,002		7,382,166
Total equity	82,155,403	[1]	102,581,730
Non-current liabilities
Lease liabilities	601,195		745,716
Other liabilities	36,877		36,877
Total non-current liabilities	638,072		782,593
Current liabilities
Trade and other payables	8,544,902		11,974,362
Lease liabilities	397,475		374,329
Employee benefits	1,125,663		1,609,766
Other liabilities	174,325		2,885,772
Total current liabilities	10,242,365		16,844,229
Total Liabilities	10,880,437		17,626,822
TOTAL EQUITY AND LIABILITIES	€ 93,035,840		€ 120,208,552
[1]unaudited

Unaudited Condensed Consolida_4

Unaudited Condensed Consolidated Statements of Changes in Shareholders’ Equity - EUR (€)		Shares outstanding	Issued capital	Share premium	Other capital reserves	Accumulated deficit	Other components of equity	Total
Balance at Dec. 31, 2022			€ 5,364,452	€ 282,552,633	€ 36,635,564	€ (243,460,290)	€ 7,257,081	€ 88,349,440
Balance (in Shares) at Dec. 31, 2022		44,703,763
Loss for the period						(19,285,963)		(19,285,963)
Exchange differences on translation of foreign currency							(17,116)	(17,116)
Total comprehensive loss						(19,285,963)	(17,116)	(19,303,079)
Issuance of common shares			1,687,110	54,796,819				56,483,929
Issuance of common shares (in Shares)		14,059,252
Transaction costs				(3,360,626)				(3,360,626)
Equity-settled share-based payments					2,239,397			2,239,397
Share options exercised			14,431	222,512				236,943
Share options exercised (in Shares)		120,257
Balance at Jun. 30, 2023	[1]		7,065,993	334,211,338	38,874,961	(262,746,253)	7,239,965	124,646,004
Balance (in Shares) at Jun. 30, 2023	[1]	58,883,272
Balance at Dec. 31, 2023			7,065,993	334,211,338	40,050,053	(286,127,819)	7,382,166	102,581,730
Balance (in Shares) at Dec. 31, 2023		58,883,272
Loss for the period						(23,502,977)		(23,502,977)
Exchange differences on translation of foreign currency							2,836	2,836
Total comprehensive loss						(23,502,977)	2,836	(23,500,141)
Equity-settled share-based payments					3,073,814			3,073,814
Balance at Jun. 30, 2024	[1]		€ 7,065,993	€ 334,211,338	€ 43,123,867	€ (309,630,796)	€ 7,385,002	€ 82,155,403
Balance (in Shares) at Jun. 30, 2024	[1]	58,883,272
[1]unaudited

Unaudited Condensed Consolida_5

Unaudited Condensed Consolidated Statements of Cash Flows - EUR (€)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Operating activities
Loss for the period	€ (23,502,977)	€ (19,285,963)
Depreciation & amortization of property and equipment, right-of-use assets and intangible assets	262,932	293,328
Financial assets from government grants		(4,460,274)
Net finance income	(4,382,376)	(1,165,044)
Inventories	1,723,566	(578,705)
Share-based payment expense	3,073,813	2,239,397
Trade receivables	(23,727)
Net foreign exchange differences	(101,055)	(23,953)
Other assets	1,213,575	6,295,975
Employee benefits	(484,102)	(411,774)
Other liabilities	(2,711,447)	60,443
Liabilities from government grants received		(5,407,634)
Trade and other payables	(3,429,460)	213,270
Interest received	1,369,670	556,068
Interest paid	(11,048)	(10,777)
Net cash used in operating activities	(27,002,634)	(21,685,642)
Investing activities
Purchase of intangible assets, property and equipment	(28,310)	(24,673)
Purchase of current financial assets	(23,254,210)	(83,071,163)
Proceeds from the maturity of financial assets	56,221,278	55,202,491
Net cash from / (used in) investing activities	32,938,758	(27,893,346)
Financing activities
Proceeds from issuance of common shares		56,483,929
Transaction costs from issuance of common shares		(3,360,626)
Proceeds from exercise of share options		236,943
Repayment of lease liabilities	(193,053)	(184,791)
Net cash from / (used in) financing activities	(193,053)	53,175,455
Net increase in cash and cash equivalents	5,743,071	3,596,467
Effect of exchange rate changes on cash and cash equivalents	641,107	(345,862)
Cash and cash equivalents at beginning of period	12,767,943	16,265,355
Cash and cash equivalents at end of period	€ 19,152,121	€ 19,515,959

Summary of Significant Accounti

Summary of Significant Accounting Policies and Other Disclosures	6 Months Ended
	Jun. 30, 2024
Summary of Significant Accounting Policies and Other Disclosures [Abstract]
Summary of significant accounting policies and other disclosures	1. Summary of significant accounting policies and other disclosures a) Reporting entity and the Group’s structure InflaRx N.V. (the “Company” or “InflaRx”) is a Dutch public company with limited liability ( naamloze vennootschap InflaRx is a biopharmaceutical company focused on applying its proprietary anti-C5a and C5aR technologies to discover, develop and commercialize first-in-class, potent and specific inhibitors of the complement activation factor known as C5a and its receptor C5aR. On April 4, 2023, the U.S. Food and Drug Administration issued an Emergency Use Authorization (the “EUA”) for GOHIBIC (vilobelimab), for the treatment of COVID-19 in critically ill, invasively mechanically ventilated hospitalized adults. These consolidated financial statements of InflaRx comprise the Company and the Group. b) Basis of preparation These interim condensed consolidated financial statements for the six-month reporting period ended June 30, 2024, and 2023 have been prepared in accordance with IAS 34 Interim Financial Reporting. These condensed consolidated financial statements do not include all the information and disclosures required in the annual financial statements. Accordingly, this report is to be read in conjunction with the financial statements in the Company’s annual report for the year ended December 31, 2023 on Form 20-F. The interim condensed consolidated financial statements were authorized for issue by the board of directors of the Company (the “Board of Directors”) on August 7, 2024. The financial statements are presented in euros (€). The euro is the functional currency of InflaRx N.V. and InflaRx GmbH. The functional currency of InflaRx Pharmaceuticals Inc. is the U.S. dollar. All financial information presented in euros have been rounded. Accordingly, numerical figures shown as totals in some tables may not be an arithmetic aggregation of the figures that precede them or may deviate from other tables. The accounting policies adopted are consistent with those followed in the preparation of the Group’s annual consolidated financial statements for the year ended December 31, 2023, except for the adoption of new standards effective as of January 1, 2024, as set out below. The Group has not adopted any other standard, interpretation or amendment that has been issued but is not yet effective early. The following amendments were adopted effective January 1, 2024, and do not have a material impact on the consolidated financial statements of the Group: ● Amendments to IFRS 16 Leases: Leases on Sale and Leaseback ● Amendments to IAS 1 Presentation of Financial Statements: Classification of Liabilities as Current or Non-current and Non-current Liabilities with Covenants ● Amendments to IAS 7, Statement of Cash Flows and IFRS 7, -Supplier Finance Arrangements The following standards issued will be adopted in a future period, and the potential impact, if any, they will have on the Group’s consolidated financial statements is being assessed: ● Amendments to IAS 21 Effects of Changes in Foreign Exchange Rates: Lack of exchangeability ● IFRS 18 Presentation and Disclosure in Financial Statements

Revenues

Revenues	6 Months Ended
	Jun. 30, 2024
Revenues [Abstract]
Revenues	2. Revenues For the three months For the six months 2024 2023 2024 2023 (in €) Revenues 6,357 — 42,394 — Total 6,357 — 42,394 — For the three months ended June 30, 2024, the Company realized revenues from the product sales of GOHIBIC (vilobelimab) in the amount of €6 thousand. For the six months ended June 30, 2024, the Company realized revenues from GOHIBIC (vilobelimab) product sales in the amount of €42 thousand. Revenues reported are sales to end customers (hospitals). Sales to distributors do not constitute revenue for the Company under IFRS 15. All revenues are attributed to sales made in the United States.

Cost of Sales

Cost of Sales	6 Months Ended
	Jun. 30, 2024
Cost of Sales [Abstract]
Cost of sales	3. Cost of sales For the three months For the six months 2024 2023 2024 2023 (in €) Cost of sales 348,153 — 568,674 — Total 348,153 — 568,674 — The cost of sales during the three and six months ended June 30, 2024 primarily consisted of write-downs of short-lived inventories.

Sales and Marketing Expenses

Sales and Marketing Expenses	6 Months Ended
	Jun. 30, 2024
Cost of Sales [Abstract]
Sales and marketing expenses	4. Sales and marketing expenses Sales and marketing expenses incurred for the three months ended June 30, 2024 increased by €1.6 million compared to the three months ended June 30, 2023. For the six months ended June 30, 2024 these expenses increased by €3.0 million compared to the six months ended June 30, 2023. This increase is primarily due to minimal sales and marketing activities incurred during the three and six months ended June 30, 2023 due to the GOHIBIC EUA approval in 2023. Sales and marketing expenses were incurred for all of the three and six months ended June 30, 2024.

Research and Development Expens

Research and Development Expenses	6 Months Ended
	Jun. 30, 2024
Research and Development Expenses [Abstract]
Research and development expenses	5. Research and development expenses Research and development expenses incurred for the three months ended June 30, 2024 decreased by €0.9 million compared to the three months ended June 30, 2023. For the six months ended June 30, 2024 these expenses decreased by €8.3 million compared to the six months ended June 30, 2023. The decrease for the three and six month ended June 30, 2024 is primarily due to higher third-party expenses incurred during the first half of 2023 in connection with the company’s efforts to develop the commercial manufacturing process, and to obtain an EUA, for GOHIBIC (vilobelimab). The decrease of third-party expenses is offset by an increase of personnel expenses by €1.2 million. This increase is attributed to higher stock-based compensation expenses.

Other Income

Other Income	6 Months Ended
	Jun. 30, 2024
Other Income [Abstract]
Other income	6. Other income For the three months For the six months 2024 2023 2024 2023 (in €) Other income Income from government grants — 4,874,934 — 12,609,789 Other 16,730 7,974 53,023 19,307 Total 16,730 4,882,908 53,023 12,629,096 Other income for the three months ended June 30, 2024 amounted to €17 thousand (2023: €4.9 million) and for the six months ended June 30, 2024 amounted to €53 thousand (2023: €12.6 million). There was no income from government grants in 2024 due to the end of the grant period on June 30, 2023.

Net Financial Result

Net Financial Result	6 Months Ended
	Jun. 30, 2024
Net Financial Result [Abstract]
Net financial result	7. Net financial result For the three months For the six months 2024 2023 2024 2023 (in €) Interest income 848,243 1,087,011 1,754,148 1,543,047 Interest expenses (2,056 ) (363 ) 25 (782 ) Interest on lease liabilities (6,676 ) (4,689 ) (10,869 ) (9,798 ) Finance Result 839,511 1,081,959 1,743,304 1,532,467 Foreign exchange income 1,754,243 2,090,994 3,803,826 2,381,519 Foreign exchange expense (1,042,832 ) (1,323,348 ) (1,268,039 ) (2,751,183 ) Foreign exchange result 711,411 767,646 2,535,787 (369,664 ) Other financial result — (195,567 ) 103,285 2,241 Net financial result 1,550,922 1,654,038 4,382,376 1,165,044 Net financial result decreased by €0.1 million to a gain of €1.6 million for the three months ended June 30, 2024 from €1.7 million for the three months ended June 30, 2023. This decrease is mainly attributable to a decrease of interest income on marketable securities by €0.2 million and an increase of other financial result by €0.2 million due to no adjustment for expected credit losses recorded during the second quarter. Net financial result increased by €3.2 million to €4.4 million for the six months ended June 30, 2024. This increase was mainly attributable to higher interest income which increased by €0.2 million, and additionally by the increase in

Inventory

Inventory	6 Months Ended
	Jun. 30, 2024
Inventory [Abstract]
Inventory	8. Inventory As of As of (in €) Raw material and supplies 138,414 423,560 Unfinished goods 9,459,267 10,614,159 Finished goods 46,559 330,087 Total 9,644,241 11,367,807 For the three and six months ended June 30, 2024, the Group recorded write downs of finished goods of €0.1 million and €0.3 million, For the three and six months ended June 30, 2024, the Group recorded write downs of raw materials and supplies of €0.3 million and €0.3 million. These write-downs were due to the expected expiry of the shelf life. Additionally, in the six months ended June 30, 2024, unfinished inventory decreased as €1.2 million was recorded to R&D expense for use in clinical studies.

Other Assets

Other Assets	6 Months Ended
	Jun. 30, 2024
Other Assets [Abstract]
Other assets	9. Other assets As of As of (in €) Non-current other assets Prepaid expenses 230,750 257,267 Total 230,750 257,267 Current other assets Prepayments on research & development projects 3,450,064 3,670,167 Prepaid expenses 1,113,552 272,999 Others 302,135 93,482 Total 4,865,751 4,036,648 Total other assets 5,096,501 4,293,915 As of June 30, 2024, prepayments on research and development projects amounted to €3.5 million compared to €3.7 million as of December 31, 2023, and consist of prepayments on clinical contracts, especially for INF904. Prepaid expenses mainly consist of prepaid D&O insurance expense for the year 2024, which will be recognized into general and administrative expenses pro rata over the year. The category “others” primarily relate to prepayments on commercial production.

Tax Receivable

Tax Receivable	6 Months Ended
	Jun. 30, 2024
Tax Receivable [Abstract]
Tax receivable	10. Tax receivable As of June 30, 2024, tax receivable amounted to €1.8 million compared to €3.8 million as of December 31, 2023. The decrease is mainly attributable to VAT refunds for Q2 2023 and Q3 2023 received during the six months ended June 30, 2024.

Financial Assets and Financial

Financial Assets and Financial Liabilities	6 Months Ended
	Jun. 30, 2024
Financial Assets and Financial Liabilities [Abstract]
Financial assets and financial liabilities	11. Financial assets and financial liabilities Set out below is an overview of financial assets and liabilities, other than cash and cash equivalents, held by the Group as of June 30, 2024 and December 31, 2023: As of As of (in €) Financial assets at amortized cost Trade receivables 23,727 — Non-current financial assets 237,755 9,052,741 Thereof marketable securities — 8,815,120 Current financial assets 55,838,699 77,504,518 Thereof marketable securities 55,398,920 76.912,342 Financial liabilities at amortized cost Trade and other payables 8,544,902 14,716,441 As of June 30, 2024, the fair value of current and non-current financial assets (primarily quoted debt securities) amounted to €55.7 million (Level 1). The Group’s debt instruments at amortized cost consist solely of quoted securities that are graded highly by credit rating agencies such as S&P Global and, therefore, are considered low credit risk investments. As of June 30, 2024, current and non-current financial assets decreased by €30.5 million to €56.1 million compared to €86.6 million as of December 31, 2023. The decrease is mainly due to the maturity of financial assets, and their subsequent reinvestment into interest bearing bank deposits, which are accounted for as part of cash and cash equivalents. As of June 30, 2024, trade and other payables decreased by €6.2 million to €8.5 million compared to €14.7 million as of December 31, 2023. At December 31, 2023 the Company temporarily had higher trade payables from CDMO’s, that arose in connection with the manufacturing of commercial products. Trade receivables arose from GOHIBIC (vilobelimab) product deliveries to end customers (hospitals) through a subsidiary of Cencora, which acts as the U.S. distributor for the Company.

Other Liabilities

Other Liabilities	6 Months Ended
	Jun. 30, 2024
Other Liabilities [Abstract]
Other liabilities	12. Other liabilities As of As of (in €) Liabilities to commercial partner — 2,784,231 Miscellaneous other liabilities 174,325 101,542 Total 174,325 2,885,773 As of June 30, 2024, a subsidiary of Cencora which acts as the U.S. distributor for the Company, returned products to the Company and the Company r epaid funds previously paid by Cencora, thereby extinguishing liabilities to commercial partners. In accordance with IFRS 15, InflaRx recognizes revenue when control of product is transferred to the end customers (hospitals). Therefore, InflaRx recognizes a liability in liabilities to commercial partner, when the product is in the distributer’s warehouse until the product is sold to an end customer. For each unit sold to the end customers, this liability is reduced with a corresponding amount recognized in revenue.

Cash and Cash Equivalents

Cash and Cash Equivalents	6 Months Ended
	Jun. 30, 2024
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	13. Cash and cash equivalents As of As of (in €) Short-term deposits Deposits held in U.S. dollars 13,226,925 4,120,951 Deposits held in euros 3,020,000 1,020,000 Total 16,246,925 5,140,951 Cash at banks Cash held in U.S. dollars 1,899,257 5,041,802 Cash held in euros 1,005,938 2,585,190 Total 2,905,195 7,626,991 Total cash and cash equivalents 19,152,121 12,767,942 As of June 30, 2024, cash and cash equivalents increased by €6.4 million to €19.2 million compared to €12.8 million as of December 31, 2023. The increase is mainly due to the maturity of financial assets, and their subsequent reinvestment into interest bearing bank deposits, which are classified as cash and cash equivalents.

Equity

Equity	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Equity	14. Equity On June 30, 2023, the Company filed a form F-3 with the United States Securities and Exchange Commission (the “SEC”) with respect to the offer and sale of up to $250.0 million of securities of the Company (the “Shelf Registration Statement”). On June 28, 2024, the Company entered into a Sales Agreement with Leerink Partners LLC, or Leerink, to sell ordinary shares of the Company from time to time through an at-the-market, or ATM, equity offering program of up to $75.0 million under which Leerink will act as sales agent. As of the date of this report, the Company had not issued any ordinary shares under such at-the-market program.

Share-Based Payments

Share-Based Payments	6 Months Ended
	Jun. 30, 2024
Share-Based Payments [Abstract]
Share-based payments	15. Share-based payments a) Equity settled share-based payment arrangements InflaRx GmbH granted options under the 2012 Stock Option Plan. Those InflaRx GmbH options were converted into options for ordinary shares of InflaRx N.V. at the time of its IPO in November 2017: Number of share options 2024 2023 Outstanding as of January 1, 148,433 148,433 Exercised during the six months ended June 30 — — Outstanding as of June 30, 148,433 148,433 thereof vested / exercisable 148,433 148,433 Under the terms and conditions of the share option plan 2016, InflaRx GmbH granted rights to subscribe for InflaRx GmbH’s ordinary shares to directors, senior management, and key employees. Those InflaRx GmbH options were converted into options for ordinary shares of InflaRx N.V. at the time of its IPO in November 2017: Number of share options 2024 2023 Outstanding as of January 1, 888,632 888,632 Exercised during the six months ended June 30 — — Outstanding as of June 30, 888,632 888,632 thereof vested / exercisable 888,632 888,632 InflaRx also granted share options under the 2017 LTIP subsequently to its IPO in November 2017. The total number of share options granted during the six months ended June 30, 2024 under the 2017 LTIP was as follows: Number of share options 2024 2023 Outstanding as of January 1, 6,584,946 4,985,523 Granted during the six months ended June 30, 2,275,000 1,567,250 Exercised during the six months ended June 30, - (105,327 ) Forfeited during the six months ended June 30, (7,000 ) — Outstanding as of June 30, 8,852,946 6,447,446 thereof vested / exercisable 6,588,696 4,788,759 The number of share options granted during the six months ended June 30, 2024 under the 2017 LTIP was as follows: Share options granted 2024 Number Fair value FX rate as of grant date Fair value Share price at grant date / Expected volatility Expected life Risk-free rate January 05 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 Of the 2,275,000 options granted in the six months ended June 30, 2024 (ended June 30, 2023: 1,567,250), 1,615,000 options (June 30, 2023: 1,246,000) were granted to members of the executive management or Board of Directors. Expected dividends are nil b) Share-based payment expense recognized For the six months ended June 30, 2024, the Company has recognized €3.1 million (2023: €2.2 million) of share-based payment expense in the statements of operations and comprehensive loss. None of the share-based payment awards were dilutive in determining earnings per share due to the Group’s loss position. c) Share options exercised During the six months ended June 30, 2024, no

Protective Foundation

Protective Foundation	6 Months Ended
	Jun. 30, 2024
Protective Foundation [Abstract]
Protective foundation	16.Protective foundation   According to the articles of association of the Company, up to 147,200,000 ordinary shares and up to 147,200,000 preferred shares with a nominal value of €0.12 per share are authorized to be issued. All shares are registered shares. No share certificates shall be issued.   In order to deter acquisition bids, the Company’s general meeting of shareholders approved the right of an independent foundation under Dutch law, or protective foundation, to exercise a call option pursuant to the call option agreement, upon which preferred shares will be issued by the Company to the protective foundation of up to 100% of the Company’s issued capital held by others than the protective foundation, minus one share. The protective foundation is expected to enter into a finance arrangement with a bank or, subject to applicable restrictions under Dutch law, the protective foundation may request the Company to provide, or cause the Company’s subsidiaries to provide, sufficient funding to the protective foundation to enable it to satisfy its payment obligation under the call option agreement.   These preferred shares will have both a liquidation and dividend preference over the Company’s ordinary shares and will accrue cash dividends at a pre-determined rate. The protective foundation would be expected to require the Company to cancel its preferred shares once the perceived threat to the Company and its stakeholders has been removed or sufficiently mitigated or neutralized. The Company believes that the call option does not represent a significant fair value based on a level 3 valuation since the preferred shares are restricted in use and can be cancelled by the Company.   During the six months ended June 30, 2024, the Company expensed €25 thousand (2023: €45 thousand) of ongoing costs to reimburse expenses incurred by the protective foundation.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Reporting entity and Group's structure	Reporting entity and the Group’s structure InflaRx N.V. (the “Company” or “InflaRx”) is a Dutch public company with limited liability ( naamloze vennootschap InflaRx is a biopharmaceutical company focused on applying its proprietary anti-C5a and C5aR technologies to discover, develop and commercialize first-in-class, potent and specific inhibitors of the complement activation factor known as C5a and its receptor C5aR. On April 4, 2023, the U.S. Food and Drug Administration issued an Emergency Use Authorization (the “EUA”) for GOHIBIC (vilobelimab), for the treatment of COVID-19 in critically ill, invasively mechanically ventilated hospitalized adults. These consolidated financial statements of InflaRx comprise the Company and the Group.
Basis of preparation	Basis of preparation These interim condensed consolidated financial statements for the six-month reporting period ended June 30, 2024, and 2023 have been prepared in accordance with IAS 34 Interim Financial Reporting. These condensed consolidated financial statements do not include all the information and disclosures required in the annual financial statements. Accordingly, this report is to be read in conjunction with the financial statements in the Company’s annual report for the year ended December 31, 2023 on Form 20-F. The interim condensed consolidated financial statements were authorized for issue by the board of directors of the Company (the “Board of Directors”) on August 7, 2024. The financial statements are presented in euros (€). The euro is the functional currency of InflaRx N.V. and InflaRx GmbH. The functional currency of InflaRx Pharmaceuticals Inc. is the U.S. dollar. All financial information presented in euros have been rounded. Accordingly, numerical figures shown as totals in some tables may not be an arithmetic aggregation of the figures that precede them or may deviate from other tables. The accounting policies adopted are consistent with those followed in the preparation of the Group’s annual consolidated financial statements for the year ended December 31, 2023, except for the adoption of new standards effective as of January 1, 2024, as set out below. The Group has not adopted any other standard, interpretation or amendment that has been issued but is not yet effective early. The following amendments were adopted effective January 1, 2024, and do not have a material impact on the consolidated financial statements of the Group: ● Amendments to IFRS 16 Leases: Leases on Sale and Leaseback ● Amendments to IAS 1 Presentation of Financial Statements: Classification of Liabilities as Current or Non-current and Non-current Liabilities with Covenants ● Amendments to IAS 7, Statement of Cash Flows and IFRS 7, -Supplier Finance Arrangements The following standards issued will be adopted in a future period, and the potential impact, if any, they will have on the Group’s consolidated financial statements is being assessed: ● Amendments to IAS 21 Effects of Changes in Foreign Exchange Rates: Lack of exchangeability ● IFRS 18 Presentation and Disclosure in Financial Statements

Revenues (Tables)

Revenues (Tables)	6 Months Ended
	Jun. 30, 2024
Revenues [Abstract]
Schedule of Revenues	For the three months For the six months 2024 2023 2024 2023 (in €) Revenues 6,357 — 42,394 — Total 6,357 — 42,394 —

Cost of Sales (Tables)

Cost of Sales (Tables)	6 Months Ended
	Jun. 30, 2024
Cost of Sales [Abstract]
Schedule of Cost of Sales	For the three months For the six months 2024 2023 2024 2023 (in €) Cost of sales 348,153 — 568,674 — Total 348,153 — 568,674 —

Other Income (Tables)

Other Income (Tables)	6 Months Ended
	Jun. 30, 2024
Other Income [Abstract]
Schedule of Other Income	For the three months For the six months 2024 2023 2024 2023 (in €) Other income Income from government grants — 4,874,934 — 12,609,789 Other 16,730 7,974 53,023 19,307 Total 16,730 4,882,908 53,023 12,629,096

Net Financial Result (Tables)

Net Financial Result (Tables)	6 Months Ended
	Jun. 30, 2024
Net Financial Result [Abstract]
Schedule of Net Financial Result	For the three months For the six months 2024 2023 2024 2023 (in €) Interest income 848,243 1,087,011 1,754,148 1,543,047 Interest expenses (2,056 ) (363 ) 25 (782 ) Interest on lease liabilities (6,676 ) (4,689 ) (10,869 ) (9,798 ) Finance Result 839,511 1,081,959 1,743,304 1,532,467 Foreign exchange income 1,754,243 2,090,994 3,803,826 2,381,519 Foreign exchange expense (1,042,832 ) (1,323,348 ) (1,268,039 ) (2,751,183 ) Foreign exchange result 711,411 767,646 2,535,787 (369,664 ) Other financial result — (195,567 ) 103,285 2,241 Net financial result 1,550,922 1,654,038 4,382,376 1,165,044

Inventory (Tables)

Inventory (Tables)	6 Months Ended
	Jun. 30, 2024
Inventory [Abstract]
Schedule of Inventory	As of As of (in €) Raw material and supplies 138,414 423,560 Unfinished goods 9,459,267 10,614,159 Finished goods 46,559 330,087 Total 9,644,241 11,367,807

Other Assets (Tables)

Other Assets (Tables)	6 Months Ended
	Jun. 30, 2024
Other Assets [Abstract]
Schedule of Other Assets	As of As of (in €) Non-current other assets Prepaid expenses 230,750 257,267 Total 230,750 257,267 Current other assets Prepayments on research & development projects 3,450,064 3,670,167 Prepaid expenses 1,113,552 272,999 Others 302,135 93,482 Total 4,865,751 4,036,648 Total other assets 5,096,501 4,293,915

Financial Assets and Financia_2

Financial Assets and Financial Liabilities (Tables)	6 Months Ended
	Jun. 30, 2024
Financial Assets and Financial Liabilities [Abstract]
Schedule of Financial Assets and Liabilities	Set out below is an overview of financial assets and liabilities, other than cash and cash equivalents, held by the Group as of June 30, 2024 and December 31, 2023: As of As of (in €) Financial assets at amortized cost Trade receivables 23,727 — Non-current financial assets 237,755 9,052,741 Thereof marketable securities — 8,815,120 Current financial assets 55,838,699 77,504,518 Thereof marketable securities 55,398,920 76.912,342 Financial liabilities at amortized cost Trade and other payables 8,544,902 14,716,441

Other Liabilities (Tables)

Other Liabilities (Tables)	6 Months Ended
	Jun. 30, 2024
Other Liabilities [Abstract]
Schedule of Other Liabilities	As of As of (in €) Liabilities to commercial partner — 2,784,231 Miscellaneous other liabilities 174,325 101,542 Total 174,325 2,885,773

Cash and Cash Equivalents (Tabl

Cash and Cash Equivalents (Tables)	6 Months Ended
	Jun. 30, 2024
Cash and Cash Equivalents [Abstract]
Schedule of Cash and Cash Equivalents	As of As of (in €) Short-term deposits Deposits held in U.S. dollars 13,226,925 4,120,951 Deposits held in euros 3,020,000 1,020,000 Total 16,246,925 5,140,951 Cash at banks Cash held in U.S. dollars 1,899,257 5,041,802 Cash held in euros 1,005,938 2,585,190 Total 2,905,195 7,626,991 Total cash and cash equivalents 19,152,121 12,767,942

Share-Based Payments (Tables)

Share-Based Payments (Tables)	6 Months Ended
	Jun. 30, 2024
Share-based payments [Abstract]
Schedule of Stock Option Activity	InflaRx GmbH granted options under the 2012 Stock Option Plan. Those InflaRx GmbH options were converted into options for ordinary shares of InflaRx N.V. at the time of its IPO in November 2017: Number of share options 2024 2023 Outstanding as of January 1, 148,433 148,433 Exercised during the six months ended June 30 — — Outstanding as of June 30, 148,433 148,433 thereof vested / exercisable 148,433 148,433 Number of share options 2024 2023 Outstanding as of January 1, 888,632 888,632 Exercised during the six months ended June 30 — — Outstanding as of June 30, 888,632 888,632 thereof vested / exercisable 888,632 888,632 Number of share options 2024 2023 Outstanding as of January 1, 6,584,946 4,985,523 Granted during the six months ended June 30, 2,275,000 1,567,250 Exercised during the six months ended June 30, - (105,327 ) Forfeited during the six months ended June 30, (7,000 ) — Outstanding as of June 30, 8,852,946 6,447,446 thereof vested / exercisable 6,588,696 4,788,759
Schedule of Fair Value Options Granted	The number of share options granted during the six months ended June 30, 2024 under the 2017 LTIP was as follows: Share options granted 2024 Number Fair value FX rate as of grant date Fair value Share price at grant date / Expected volatility Expected life Risk-free rate January 05 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

Revenues (Details)

Revenues (Details) - EUR (€)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues [Abstract]
Revenues	€ 6,357		€ 42,394

Revenues (Details) - Schedule o

Revenues (Details) - Schedule of Revenues - EUR (€)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues [Abstract]
Revenues	€ 6,357		€ 42,394
Total	€ 6,357		€ 42,394

Cost of Sales (Details) - Sched

Cost of Sales (Details) - Schedule of Cost of Sales - EUR (€)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Schedule of Cost of Sales [Abstract]
Cost of sales	€ 348,153		€ 568,674
Total	€ 348,153		€ 568,674

Sales and Marketing Expenses (D

Sales and Marketing Expenses (Details) - EUR (€) € in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024
Sales and Marketing Expenses [Member]
Sales and Marketing Expenses [Line Items]
Sales and marketing expenses	€ 1.6	€ 3

Research and Development Expe_2

Research and Development Expenses (Details) - EUR (€)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Research and Development Expenses [Line Items]
Research and development expenses	€ 10,016,870	€ 10,919,595	€ 17,318,680	€ 25,651,503
Personnel expenses			1,200,000
Bottom of Range [Member]
Research and Development Expenses [Line Items]
Research and development expenses	€ 900,000	€ 900,000	€ 8,300,000	€ 8,300,000

Other Income (Details)

Other Income (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2024 EUR (€)	Jun. 30, 2023 EUR (€)	Jun. 30, 2024 EUR (€)	Jun. 30, 2023 EUR (€)	Jun. 30, 2023 USD ($)
Other Income [Abstract]
Other income | €	€ 16,730	€ 4,882,908	€ 53,023	€ 12,629,096
Government grants (in Dollars) | $					$ 0

Other Income (Details) - Schedu

Other Income (Details) - Schedule of Other Income - EUR (€)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Other income
Income from government grants		€ 4,874,934		€ 12,609,789
Other	16,730	7,974	53,023	19,307
Total	€ 16,730	€ 4,882,908	€ 53,023	€ 12,629,096

Net Financial Result (Details)

Net Financial Result (Details) - EUR (€) € in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024
Net Financial Result (Details) [Line Items]
Net financial result decreased		€ 1.7
Decrease on interest income on marketable securities			€ 0.2
Other financial gains			0.2
Interest income			0.2
Increase in foreign exchange			2.9
Bottom of Range [Member]
Net Financial Result (Details) [Line Items]
Net financial result decreased	€ 0.1
Net financial result increased			3.2
Top of Range [Member]
Net Financial Result (Details) [Line Items]
Net financial result decreased	€ 1.6
Net financial result increased			€ 4.4

Net Financial Result (Details)

Net Financial Result (Details) - Schedule of Net Financial Result - EUR (€)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Schedule of Net Financial Result [Abstract]
Interest income	€ 848,243	€ 1,087,011	€ 1,754,148	€ 1,543,047
Interest expenses	(2,056)	(363)	25	(782)
Interest on lease liabilities	(6,676)	(4,689)	(10,869)	(9,798)
Finance Result	839,511	1,081,959	1,743,304	1,532,467
Foreign exchange income	1,754,243	2,090,994	3,803,826	2,381,519
Foreign exchange expense	(1,042,832)	(1,323,348)	(1,268,039)	(2,751,183)
Foreign exchange result	711,411	767,646	2,535,787	(369,664)
Other financial result		(195,567)	103,285	2,241
Net financial result	€ 1,550,922	€ 1,654,038	€ 4,382,376	€ 1,165,044

Inventory (Details)

Inventory (Details) - EUR (€) € in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024
Inventory [Abstract]
Finished goods	€ 0.1		€ 0.3
Raw materials and supplies		€ 0.3	0.3
Unfinished inventory decreased			€ 1.2

Inventory (Details) - Schedule

Inventory (Details) - Schedule of Inventory - EUR (€)	Jun. 30, 2024	Dec. 31, 2023
Schedule of Inventory [Abstract]
Raw material and supplies	€ 138,414	€ 423,560
Unfinished goods	9,459,267	10,614,159
Finished goods	46,559	330,087
Total	€ 9,644,241	€ 11,367,807

Other Assets (Details)

Other Assets (Details) - EUR (€) € in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Other Assets [Member]
Other Assets [Line Items]
Research and development	€ 3.5	€ 3.7

Other Assets (Details) - Schedu

Other Assets (Details) - Schedule of Other Assets - Previously Reported [Member] - EUR (€)	Jun. 30, 2024	Dec. 31, 2023
Non-current other assets
Prepaid expenses	€ 230,750	€ 257,267
Total	230,750	257,267
Current other assets
Prepayments on research & development projects	3,450,064	3,670,167
Prepaid expenses	1,113,552	272,999
Others	302,135	93,482
Total	4,865,751	4,036,648
Total other assets	€ 5,096,501	€ 4,293,915

Tax Receivable (Details)

Tax Receivable (Details) - EUR (€) € in Millions	Jun. 30, 2024	Dec. 31, 2023
Tax Receivable [Abstract]
Value added tax receivables	€ 1.8	€ 3.8

Financial Assets and Financia_3

Financial Assets and Financial Liabilities (Details) - EUR (€)	Jun. 30, 2024	Dec. 31, 2023
Financial Assets and Financial Liabilities [Line Items]
Fair value of current and non-current financial assets	€ 55,700,000
Current and non-current financial assets		€ 86,600,000
Trade and other payables	8,544,902	€ 14,716,441
Bottom of Range [Member]
Financial Assets and Financial Liabilities [Line Items]
Current and non-current financial assets	30,500,000
Trade and other payables	6,200,000
Top of Range [Member]
Financial Assets and Financial Liabilities [Line Items]
Current and non-current financial assets	56,100,000
Trade and other payables	€ 8,500,000

Financial Assets and Financia_4

Financial Assets and Financial Liabilities (Details) - Schedule of Financial Assets and Liabilities - EUR (€)	Jun. 30, 2024	Dec. 31, 2023
Financial assets at amortized cost
Trade receivables	€ 23,727
Non-current financial assets	237,755	9,052,741
Thereof marketable securities		8,815,120
Current financial assets	55,838,699	77,504,518
Thereof marketable securities	55,398,920	76.912342
Financial liabilities at amortized cost
Trade and other payables	€ 8,544,902	€ 14,716,441

Other Liabilities (Details) - S

Other Liabilities (Details) - Schedule of Other Liabilities - Previously Reported [Member] - EUR (€)	Jun. 30, 2024	Dec. 31, 2023
Schedule of Other Liabilities [Line Items]
Other Liabilities, total	€ 174,325	€ 2,885,773
Liabilities to commercial partner [Member]
Schedule of Other Liabilities [Line Items]
Other Liabilities, total		2,784,231
Miscellaneous other liabilities [Member]
Schedule of Other Liabilities [Line Items]
Other Liabilities, total	€ 174,325	€ 101,542

Cash and Cash Equivalents (Deta

Cash and Cash Equivalents (Details) - EUR (€) € in Millions	Jun. 30, 2024	Dec. 31, 2023
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents		€ 12.8
Bottom of Range [Member]
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	€ 6.4
Top of Range [Member]
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	€ 19.2

Cash and Cash Equivalents (De_2

Cash and Cash Equivalents (Details) - Schedule of Cash and Cash Equivalents - Previously Reported [Member] - EUR (€)	Jun. 30, 2024	Dec. 31, 2023
Short-term deposits
Short-term deposits	€ 16,246,925	€ 5,140,951
Cash at banks
Cash at banks	2,905,195	7,626,991
Total cash and cash equivalents	19,152,121	12,767,942
Deposits held in U.S. dollars [Member]
Short-term deposits
Short-term deposits	13,226,925	4,120,951
Deposits held in euros [Member]
Short-term deposits
Short-term deposits	3,020,000	1,020,000
Cash held in U.S. dollars [Member]
Cash at banks
Cash at banks	1,899,257	5,041,802
Cash held in euros [Member]
Cash at banks
Cash at banks	€ 1,005,938	€ 2,585,190

Equity (Details)

Equity (Details) - USD ($) $ in Millions	Jun. 28, 2024	Jun. 30, 2023
Equity [Abstract]
Sale of securities		$ 250
Sale of common shares	$ 75

Share-Based Payments (Details)

Share-Based Payments (Details) - EUR (€)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Share-Based Payments (Details) [Line Items]
Common shares, description	The total number of share options granted during the six months ended June 30, 2024 under the 2017 LTIP was as follows:
Number of options granted		105,327
Expected dividends (in Euro)
Share-based payment expense (in Euro)	3,100,000	€ 2,200,000
Share Options Exercised [Member]
Share-Based Payments (Details) [Line Items]
Expected dividends (in Euro)	€ 0	€ 98
Executive Management [Member]
Share-Based Payments (Details) [Line Items]
Number of options granted	2,275,000	1,567,250
Board of Directors [Member]
Share-Based Payments (Details) [Line Items]
Number of options granted	1,615,000	1,246,000

Share-Based Payments (Details)

Share-Based Payments (Details) - Schedule of Stock Option Activity	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Number of share options under the 2012 Plan [Member]
Schedule of Stock Option Activity [Line Items]
Outstanding Beginning Balance	148,433	148,433
Exercised during the six months ended June 30,
Outstanding Ending Balance	148,433	148,433
thereof vested / exercisable	148,433	148,433
Number of share options under the 2016 Plan [Member]
Schedule of Stock Option Activity [Line Items]
Outstanding Beginning Balance	888,632	888,632
Exercised during the six months ended June 30,
Outstanding Ending Balance	888,632	888,632
thereof vested / exercisable	888,632	888,632
Number of share options under the LTIP [Member]
Schedule of Stock Option Activity [Line Items]
Outstanding Beginning Balance	6,584,946	4,985,523
Granted during the six months ended June 30,	2,275,000	1,567,250
Exercised during the six months ended June 30,		(105,327)
Forfeited during the six months ended June 30,	(7,000)
Outstanding Ending Balance	8,852,946	6,447,446
thereof vested / exercisable	6,588,696	4,788,759

Share-Based Payments (Details_2

Share-Based Payments (Details) - Schedule of Fair Value Options Granted	6 Months Ended
	Jun. 30, 2024 € / shares
Schedule of Fair Value Options Granted [Line Items]
Number of share options granted	2,275,000
January 05 [Member]
Schedule of Fair Value Options Granted [Line Items]
Number of share options granted	2,245,000
Fair value per option (in Euro per share)	€ 1.65
FX rate as of grant date (in Euro per share)	€ 0.916
Fair value per option	1.51
Share price at grant date / Exercise price (in Euro per share)	€ 1.79
Expected volatility	1.47%
January 05 [Member] | Bottom of range [member]
Schedule of Fair Value Options Granted [Line Items]
Expected life (midpoint based) (in Euro per share)	€ 5.3
Risk-free rate (interpolated, U.S. sovereign strips curve)	4.023%
January 05 [Member] | Top of range [member]
Schedule of Fair Value Options Granted [Line Items]
Expected life (midpoint based) (in Euro per share)	€ 5.5
Risk-free rate (interpolated, U.S. sovereign strips curve)	4.025%
February 21 [Member]
Schedule of Fair Value Options Granted [Line Items]
Number of share options granted	30,000
Fair value per option (in Euro per share)	€ 1.4
FX rate as of grant date (in Euro per share)	€ 0.925
Fair value per option	1.3
Share price at grant date / Exercise price (in Euro per share)	€ 1.51
Expected volatility	1.47%
Expected life (midpoint based) (in Euro per share)	€ 5.5
Risk-free rate (interpolated, U.S. sovereign strips curve)	4.308%

Protective Foundation (Details)

Protective Foundation (Details) € / shares in Units, € in Thousands	6 Months Ended
	Jun. 30, 2024 EUR (€) € / shares	Jun. 30, 2023 EUR (€)	Jun. 30, 2024 USD ($)
Protective Foundation [Abstract]
Ordinary shares			$ 147,200,000
Preferred shares			$ 147,200,000
Price per share | € / shares	€ 0.12
Protective foundation percentege	100%
Reimburse expenses | €	€ 25	€ 45