Fubotv earnings beat by $0.10, revenue topped estimates
On Tuesday, BTIG research firm reiterated its Buy rating and $21.00 price target for INmune Bio Inc. (NASDAQ:INMB), currently trading at $7.93, expressing continued optimism about the company’s INKmune therapy for metastatic castration-resistant prostate cancer (mCRPC). According to InvestingPro data, analyst targets range from $16 to $22, suggesting significant upside potential, though the stock appears overvalued based on InvestingPro’s Fair Value analysis. BTIG analysts highlighted the potential of immune therapy in mCRPC, particularly the role of natural killer (NK) cells, as an area ripe for development.
INKmune is designed to activate NK cells without the need for an external activation step, a process that is typically complex and costly. The therapy’s ability to increase levels of activated NK cells has been underpinned by well-established molecular markers, providing a solid foundation for its development. BTIG’s analysis suggests that the first indications of INKmune’s effectiveness could be observed through declines in prostate-specific antigen (PSA) levels.
The analysts also noted that the reported data, which only reflects the first cohort of patients, appears positive. They drew attention to INmune Bio’s preclinical data, previously presented at an investor event, which supported the therapy’s approach.
Despite acknowledging the high-risk nature of INKmune, given the challenges faced by immune therapies in mCRPC over the past two decades, BTIG sees it as a potentially high-reward strategy. With a market capitalization of $175.61 million and strong recent momentum showing a 21.23% return over the past week, the company has attracted investor attention. InvestingPro analysis reveals the company maintains a healthy balance sheet with more cash than debt, though it’s currently unprofitable. They referenced several small trials that have shown promise but failed to impress in larger studies. However, they also pointed to the success of antibody-drug conjugates (ADCs) and the recent Contact-02 trial for the tyrosine kinase inhibitor (TKI) cabozantinib, which demonstrated positive progression-free survival (PFS) results.
In conclusion, BTIG believes that INKmune, with its benign safety profile and outpatient dosing, could be a significant new treatment option for mCRPC patients. The therapy’s potential to provide a chemo-free option is particularly promising, especially in light of the current landscape where effective treatments remain elusive. For deeper insights into INMB’s financial health, growth prospects, and 13 additional ProTips, visit InvestingPro, where you’ll find comprehensive analysis and the exclusive Pro Research Report covering what really matters for informed investment decisions.
In other recent news, INmune Bio Inc. has initiated the Phase II segment of its clinical trial for metastatic castration-resistant prostate cancer (mCRPC) at the West Los Angeles Veterans Administration (VA) Hospital. The trial, known as CaRe PC, is evaluating the safety and efficacy of INKmune, a novel NK cell targeted therapy. Furthermore, the company reported a net loss of $12.1 million for the recent quarter, with research and development expenses amounting to $10.1 million. Despite this, INmune Bio maintains a healthy cash reserve of $33.6 million, projected to fund operations until the third quarter of 2025.
In addition, the company has been actively pursuing mergers and acquisitions, with a focus on anti-amyloid programs. Rodman & Renshaw recently initiated coverage on INmune Bio with a Buy rating and set a price target of $23.00. This valuation is based on an analysis of potential future cash flows from the company’s fosgonimeton program. These are recent developments in INmune Bio’s ongoing operations.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.