NSW teen charged over man's stabbing

A teenage boy has been charged with repeatedly stabbing a man in the chest in Sydney's inner west.

The man, 26, suffered a collapsed lung after the 15-year-old allegedly stabbed him several times in the chest after demanding money from him and an associate as the pair got out of a car on Queen Street, Ashfield, at 12.40am on Wednesday.

The teen allegedly fled empty handed and was later arrested in nearby Park St.

The man was taken to Royal Prince Alfred Hospital where he remains in a serious but stable condition.

The teen was charged with numerous assault-related offences and was refused bail to appear at a children's court on Wednesday.