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Shares of the German drug maker InflaRx (IFRX) fell sharply Wednesday after its lead drug failed to benefit patients with a debilitating skin disease in a clinical trial.

In the Phase 2 clinical trial, InflaRx tested four escalating doses of its injectable antibody drug called IFX-1 against a placebo in 179 patients with hidradenitis suppurativa, a painful skin disease characterized by inflamed hair follicles, mostly found in the armpits and groin. Involvement of the sweat glands within the follicles causes painful, pus-filled boils, nodules, and abscesses.

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