InflaRx N.V. Files Annual Report on Form 20-F for Fiscal Year Ended December 31, 2023

TL;DR

<b>InflaRx N.V. submitted its 2023 annual report on Form 20-F, detailing its financial status and share information.</b>

AI Summary

InflaRx N.V. (IFRX) filed a Foreign Annual Report (20-F) with the SEC on March 21, 2024. InflaRx N.V. filed its annual report on Form 20-F for the fiscal year ended December 31, 2023. The company's ordinary shares, nominal value €0.12 per share, are traded on The Nasdaq Stock Market LLC under the symbol IFRX. As of December 31, 2023, InflaRx N.V. had 58,883,272 ordinary shares outstanding. The company is incorporated in The Netherlands and its principal executive offices are located in Jena, Germany. Dr. Thomas Taapken, Chief Financial Officer, is listed as the company contact person.

Why It Matters

For investors and stakeholders tracking InflaRx N.V., this filing contains several important signals. This filing provides investors and stakeholders with a comprehensive overview of InflaRx's performance and financial position for the fiscal year 2023. The report confirms the number of outstanding shares and the listing details on Nasdaq, which are crucial for market participants tracking the company's equity.

Risk Assessment

Risk Level: low — InflaRx N.V. shows low risk based on this filing. The filing is a standard annual report (20-F) and does not contain new material events or significant financial disclosures that would alter the risk profile.

Analyst Insight

Review the full 20-F filing for detailed financial statements, risk factors, and business updates to assess InflaRx's current operational and financial health.

Key Numbers

• 58,883,272 — Outstanding Ordinary Shares (As of December 31, 2023)
• 2023 — Fiscal Year End (Report period)
• 2024-03-21 — Filing Date (Date of submission)

Key Players & Entities

• InflaRx N.V. (company) — Registrant
• 20-F (document) — Form Type
• December 31, 2023 (date) — Fiscal year end
• IFRX (ticker) — Trading Symbol
• The Nasdaq Stock Market LLC (company) — Exchange
• 58,883,272 (dollar_amount) — Outstanding ordinary shares
• Dr. Thomas Taapken (person) — Company Contact Person
• The Netherlands (location) — Jurisdiction of incorporation

FAQ

Risk Factors

• Form 20-F Filing [low — regulatory]: InflaRx N.V. is required to file an annual report on Form 20-F, which provides a comprehensive overview of its business, financial condition, and results of operations.

Industry Context

InflaRx N.V. operates in the pharmaceutical preparations industry, focusing on the development of treatments for inflammatory diseases.

Regulatory Implications

As a foreign private issuer incorporated in The Netherlands, InflaRx N.V. files annual reports on Form 20-F with the U.S. Securities and Exchange Commission (SEC).

What Investors Should Do

1. Analyze the detailed financial statements and management's discussion and analysis within the 20-F for a thorough understanding of the company's financial health.
2. Review the risk factors section to identify potential challenges and uncertainties facing InflaRx N.V.
3. Monitor future filings for updates on clinical trial progress, regulatory approvals, and financial performance.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the annual financial statements.
• 2024-03-21: Filing Date — Date the Form 20-F was officially submitted to the SEC.

Year-Over-Year Comparison

This filing is the annual report for the fiscal year ended December 31, 2023, and follows the standard reporting requirements for a Form 20-F.

Filing Documents

• ea0202038-20f_inflarx.htm (20-F) — 3008KB
• ea020203801ex8-1_inflarx.htm (EX-8.1) — 2KB
• ea020203801ex12-1_inflarx.htm (EX-12.1) — 9KB
• ea020203801ex12-2_inflarx.htm (EX-12.2) — 10KB
• ea020203801ex13-1_inflarx.htm (EX-13.1) — 4KB
• ea020203801ex13-2_inflarx.htm (EX-13.2) — 4KB
• ea020203801ex15-1_inflarx.htm (EX-15.1) — 4KB
• ea020203801ex97-1_inflarx.htm (EX-97.1) — 29KB
• image_001.jpg (GRAPHIC) — 55KB
• image_002.jpg (GRAPHIC) — 35KB
• image_003.jpg (GRAPHIC) — 16KB
• image_004.jpg (GRAPHIC) — 43KB
• image_005.jpg (GRAPHIC) — 30KB
• image_006.jpg (GRAPHIC) — 49KB
• 0001213900-24-024500.txt (&nbsp;) — 10092KB
• ifrx-20231231.xsd (EX-101.SCH) — 107KB
• ifrx-20231231_cal.xml (EX-101.CAL) — 39KB
• ifrx-20231231_def.xml (EX-101.DEF) — 342KB
• ifrx-20231231_lab.xml (EX-101.LAB) — 686KB
• ifrx-20231231_pre.xml (EX-101.PRE) — 357KB
• ea0202038-20f_inflarx_htm.xml (XML) — 1318KB

Item 18

Item 17 Item 18 If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No I nfla R x N.V. Table of Contents Page

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS iv ENFORCEMENT OF JUDGMENTS vi PART I 1

IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS

ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS 1 A. Directors and senior management 1 B. Advisers 1 C. Auditors 1

OFFER STATISTICS AND EXPECTED TIMETABLE

ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE 1 A. Offer statistics 1 B. Method and expected timetable 1

KEY INFORMATION

ITEM 3. KEY INFORMATION 1 A. Capitalization and indebtedness 1 B. Reasons for the offer and use of proceeds 1 C.

Risk factors

Risk factors 2 A. History and development of the company 54 B. Business overview 55 C. Organizational structure 98 D. Property, plant and equipment 98

UNRESOLVED STAFF COMMENTS

ITEM 4A. UNRESOLVED STAFF COMMENTS 99

OPERATING AND FINANCIAL REVIEW AND PROSPECTS

ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS 99 A. Operating results 99 B. Financial operations overview 101 C. Liquidity and capital resources 108 D. Research and development, patents and licenses, etc. 111 E. Trend information 111 F. Critical accounting estimates 111

DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES

ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES 112 A. Directors and senior management 112 B. Compensation 115 C. Board practices 118 D. Employees 121 E. Share ownership 121 F. Disclosure of a registrant's action to recover erroneously awarded compensation 121

MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS

ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS 122 A. Major shareholders 122 B. Related party transactions 125

FINANCIAL INFORMATION

ITEM 8. FINANCIAL INFORMATION 126 A. Consolidated statements and other financial information 126 B. Significant changes 126 i

THE OFFER AND LISTING

ITEM 9. THE OFFER AND LISTING 127 A. Offering and listing details 127 B. Plan of distribution 127 C. Markets 127 D. Selling shareholders 127 E.

Dilution

Dilution 127 F. Expenses of the issue 127

ADDITIONAL INFORMATION

ITEM 10. ADDITIONAL INFORMATION 128 A. Share capital 128 B. Memorandum and articles of association 128 C. Material contracts 128 D. Exchange controls 128 E. Taxation 128

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 11. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 151

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

ITEM 12. DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 151 A. Debt securities 151 B. Warrants and rights 151 C. Other securities 151 D. American Depositary Shares 151 PART II 152

DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES

ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 152 A. Defaults 152 B. Arrears and delinquencies 152

MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS

ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 152 A. Material modifications to instruments 152 B. Material modifications to rights 152 C. Withdrawal or substitution of assets 152 D. Change in trustees or paying agents 152 E.

Use of proceeds

Use of proceeds 152

CONTROLS AND PROCEDURES

ITEM 15. CONTROLS AND PROCEDURES 153 A. Disclosure controls and procedures 153 B. Management's annual report on internal control over financial reporting 153 C. Attestation report of the registered public accounting firm 153 D. Changes in internal control over financial reporting 153 ii

RESERVED

ITEM 16. RESERVED 153

AUDIT COMMITTEE FINANCIAL EXPERT

ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT 153

CODE OF ETHICS

ITEM 16B. CODE OF ETHICS 153

PRINCIPAL ACCOUNTANT FEES AND SERVICES

ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES 154 A. Audit fees 154 B. Audit-related fees 154 C. Tax fees 154 D. All other fees 154 E. Audit Committee's pre-approval policies and procedures 154 F. Audit work performed by other than principal accountant if greater than 50% 154

EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES

ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES 154

PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS

ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 155

CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT

ITEM 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 155

CORPORATE GOVERNANCE

ITEM 16G. CORPORATE GOVERNANCE 155

MINE SAFETY DISCLOSURE

ITEM 16H. MINE SAFETY DISCLOSURE 155

DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS

ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 155

INSIDER TRADING POLICIES

ITEM 16J. INSIDER TRADING POLICIES 155

CYBERSECURITY RISK MANAGEMENT AND STRATEGY

ITEM 16K. CYBERSECURITY RISK MANAGEMENT AND STRATEGY 155 PART III 157

FINANCIAL STATEMENTS

ITEM 17. FINANCIAL STATEMENTS 157

FINANCIAL STATEMENTS

ITEM 18. FINANCIAL STATEMENTS 157

EXHIBITS

ITEM 19. EXHIBITS 157 Index to Consolidated Financial Statements F-1 iii Unless otherwise indicated or the context otherwise requires, all references in this Annual Report on Form 20-F, or this Annual Report, to "InflaRx N.V.," "InflaRx," the "Company," "we," "our," "ours," "us" or similar terms refer to InflaRx N.V. and its subsidiaries. Presentation of Financial Statements We report in Euros under International Financial Reporting Standards, or IFRS, as issued by the International Accounting Standards Board, or the IASB. We made rounding adjustments to some of the figures included in this Annual Report. Accordingly, numerical figures shown as totals in some tables may not be an arithmetic aggregation of the figures that preceded them. In this Annual Report, unless otherwise indicated, translations from U.S. dollars to Euros (and vice versa) relating to payments made on or before December 31, 2023, were made at the rate in effect at the time of the relevant payment. The terms "$" or "dollar" refer to U.S. dollars, and the terms "" or "Euro" refer to the currency introduced at the start of the third stage of European economic and monetary union pursuant to the treaty establishing the European Community, as amended. Industry and Other Data We obtained the industry, statistical and market data in this Annual Report from our own internal estimates and research as well as from industry and general publications and research, surveys and studies conducted by third parties. All of the market data used in this Annual Report involves a number of assumptions and limitations. While we believe that the information from these industry publications, surveys and studies is reliable, the industry in which we operate is subject to a high degree of uncertainty and risk due to a variety of important factors, including those described in the section titled "ITEM 3. KEY INFORMATION — C. Risk factors." These and other factors could cause results to differ materially fr

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