Jan Medina
Head of Investor Relations & VP

Good morning, everyone. Thank you for standing by, and thank you for joining our conference call this morning to discuss our recently announced effort to pursue izicopan for AAV and other renal diseases. Today’s presentation will take about 45 minutes. [Operator Instructions] Please note that today’s call is also being recorded. [Operator Instructions] As I said, we’ll be done in about 45 minutes this morning and get you on your way.

I would now like to turn the call over to Niels Riedemann, CEO and Founder of InflaRx. Niels, please go ahead.

Niels Riedemann
Co-Founder, CEO & Executive Director

Thank you, Jan. Ladies and gentlemen, good morning, and thanks for listening in. It is our pleasure to be sharing with you our recent prioritization here on the renal space, particularly in the ANCA-associated vasculitis. So may I please ask to forward to first slides. Please take note of the important notice and disclaimers. We will be making forward-looking statements. We are a public-listed company. So I appreciate your taking note.

Next slide, please. So we’re excited about our new molecule, izicopan, which is an oral inhibitor of the C5a receptor really. The C5a/C5aR pathway is a critical driver of inflammatory cascade, both angles, C5a, the ligand and its main receptor C5aR, both validated targets. From a clinical, both and the regulatory and commercial perspective also in ANCA-associated

Nike is facing a new class action lawsuit accusing the company of failing to refund tariff-related costs it passed on to consumers through higher prices.

In the proposed lawsuit, consumers argue Nike should not be allowed to keep “significant” refunds it may receive after the U.S. Supreme Court ruled in February that the president lacked authority under the International Emergency Economic Powers Act (IEEPA) to impose certain tariffs.

Nike has said it paid roughly $1 billion in tariffs on imported goods as a result of those actions. Plaintiffs allege the company raised prices on some footwear by $5 to $10 and on some apparel by $2 to $10 to offset those costs.

“Nike has made ​no legally binding commitment to return tariff-related overcharges to ​the consumers who actually paid them,” the complaint, filed in federal court in Portland, Oregon, states.

TRUMP RAMPS UP TARIFFS ON EUROPEAN CARS IMPORTED INTO US

Nike is facing a class action lawsuit alleging the company failed to refund tariff-related costs passed on to consumers through higher prices. (istock / iStock)

“Unless restrained by this ‌court, ⁠Nike stands to recover the same tariff payments twice — once from consumers through higher prices and again from the federal government through tariff refunds,” the complaint continues.

The lawsuit is one of several filed against major companies, including Costco, alleging they failed to pass tariff-related refunds on to consumers.

More than 2,000 companies have filed suits in the U.S. Court of International Trade seeking to recover tariffs paid on imported goods.

TRUMP SAYS KING CHARLES ‘GOT ME TO’ DROP WHISKY TARIFFS AFTER ROYAL VISIT

A woman carries a shopping bag while passing in front of a Nike Inc. store in Portland, Oregon, on Wednesday, April 24, 2013. (Natalie Behring/Bloomberg via Getty Images / Getty Images)

During a March conference call, Nike said its fiscal quarter ending in August 2026 would likely be the final period in which tariffs materially impact gross margins.

The lawsuit comes weeks after Nike announced plans to lay off roughly 1,400 employees across its Global Operations team.

In a memo to staff, Chief Operating Officer Venkatesh Alagirisamy said the cuts would primarily affect the company’s technology division across North America, Asia and Europe, representing just under 2% of its global workforce.

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The logo of Nike is pictured in a store in Manhattan on March 30, 2026, in New York City. (Zamek/VIEWpress / Getty Images)

Nike declined to comment to FOX Business.

FOX Business’ Eric Revell and Reuters contributed to this report.