InflaRx (IFRX) rose 5% Wednesday, after it said European regulators allowed the use of Gohibic monoclonal antibody to treat adult patients with SARS-CoV-2-induced acute respiratory distress syndrome in exceptional circumstances.

The approval allows the use of Gohibic for patients who are already receiving systemic corticosteroids and using mechanical ventilation as part of their Covid treatment for respiratory distress, the biotechnology company said.

It becomes the first therapy for COVID-19 approved for 27 European Union member states, along with Iceland, Liechtenstein and Norway.

InflaRx also said it is exploring potential commercial partnerships and distribution agreements to commercialize Gohibic in Europe. It does not expect the approach will negatively affect cash burn rate.

Price: 2.46, Change: +0.12, Percent Change: +5.13