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      ContraFect Corporation (CFRX) Suffers Falling Market Confidence - Stocks Telegraph

      By Wasim Omar

      Published on

      January 27, 2023

      8:08 AM UTC

      Last Updated on

      March 24, 2023

      6:02 AM UTC

      ContraFect Corporation (CFRX) Suffers Falling Market Confidence - Stocks Telegraph

      ContraFect Corporation (NASDAQ: CFRX) is a clinical-stage biotech player which focuses primarily on antibody-based treatments and several strains of protein material as therapy. CFRX stock continues to find itself facing a series of difficult challenges, as hope becomes increasingly thin.

      CFRX Takes a Hit Amid News of Potential Delisting

      ContraFect Corporation (CFRX) saw its stock price tumble by as much as 8% after day traders worked to pump up the stock in a coordinated rally. The artificial rise came about with no updates on the company and saw a plummeting correction after a news report of a possible delisting from Nasdaq. The company’s market capitalization of over $4 million is dangerously low to the minimum floor level of $2.5 million, which would see CFRX taken off the stock exchange, and taken to the OTC markets. The implications of this could potentially be significant to the company, causing an even lower price plunge, and making it difficult for the company to raise funds and finance its development pipeline.

      Poor Clinical Data for Contrafect

      In another update, CFRX faced growing bearish pressure following its December readout of trial data, which failed to bring confidence to its shareholders. The Exebacase and SoCA arm both showed results that, although higher than the placebo, in the 55 patients of the trial, failed to come up with convincing efficacy statistics. Although the results are not yet complete, the remainder is expected to be revealed to shareholders during the first quarter of 2023. One reason for these results, according to the management links to a “disbalance” in the baseline severity of diabetic-related conditions suffered by patients in the trial.


      CFRX stock has been experiencing a mass selloff after the potential Nasdaq delisting notifications stoked new fears among shareholders. There is still hope for a breakthrough with positive trial developments to come to light before the end of FY23Q1.

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