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Investing.com - Lucid (NASDAQ:LCID) Capital Markets downgraded INmune Bio Inc. (NASDAQ:INMB) from Buy to Neutral and slashed its price target to $2.00 from $25.00 following mixed results from the company’s Phase 2 MINDFuL trial for Alzheimer’s disease. The stock has already fallen over 14% in the past week, according to InvestingPro data, with the company’s market capitalization now standing at approximately $53 million.
The Phase 2 trial evaluated XPro, a selective soluble TNF inhibitor, in patients with early Alzheimer’s disease who exhibit signs of inflammation. While the overall trial did not meet its primary endpoint in the full modified intention-to-treat cohort, results indicated a potential benefit in a specific subpopulation. InvestingPro analysis shows the company maintains a healthy balance sheet with more cash than debt and a strong current ratio of 2.64, providing runway for continued research development. Get access to 8 more exclusive InvestingPro Tips for INMB and comprehensive financial analysis with an InvestingPro subscription.
Among patients with two or more baseline inflammatory biomarkers, representing 100 of the 206 enrolled participants, XPro demonstrated cognitive improvement on the primary endpoint, behavioral benefit on the Neuropsychiatric Inventory, and a reduction in pTau217, a key biomarker of Alzheimer’s pathology.
The MINDFuL study was a randomized, double-blind, placebo-controlled trial that enrolled patients with at least one of four inflammatory markers: elevated C-reactive protein, erythrocyte sedimentation rate, hemoglobin A1c, or the presence of at least one ApoE4 allele. Participants received either XPro or placebo in a 2:1 ratio over 24 weeks.
The trial’s primary endpoint measured cognitive change using the Early Mild Alzheimer’s Cognitive Composite, a tool designed to detect cognitive shifts in early Alzheimer’s disease, with the results helping to identify a potential target patient group for the treatment. With the next earnings report scheduled for July 30, 2025, investors will be watching closely for updates on the development pipeline and cash burn rate. Discover detailed financial forecasts and expert analysis in the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, INmune Bio Inc. reported mixed results from its Phase 2 MINDFuL trial of XPro in early Alzheimer’s disease patients. The trial did not meet its primary cognitive endpoint in the overall study population; however, a predefined subgroup of amyloid-positive patients with two or more biomarkers of inflammation showed positive outcomes. Despite these findings, Raymond (NSE:RYMD) James downgraded INmune Bio from Outperform to Market Perform, citing increased risks to the XPro program. Additionally, INmune Bio secured $19 million through a registered direct offering, selling 3,000,000 shares of common stock to institutional investors. The company plans to use the proceeds for working capital and general corporate purposes. INmune Bio is also preparing to present further analyses at an upcoming Alzheimer’s Association International Conference and intends to submit for Breakthrough Therapy designation with the FDA. The company will host a conference call to discuss the Phase 2 trial data. Investors and analysts are keenly observing these developments, as they could significantly influence INmune Bio’s strategy in the Alzheimer’s treatment landscape.
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