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On Wednesday, Lucid (NASDAQ:LCID) Capital Markets initiated coverage on INmune Bio Inc. (NASDAQ: NASDAQ:INMB) with a Buy rating and set a price target of $25. The decision comes as INmune Bio continues its development of XPro, an experimental treatment targeting neuroinflammation in Alzheimer’s disease.
The analyst from Lucid Capital Markets highlighted the pressing need for effective treatments, noting that approximately seven million patients in the United States are diagnosed with Alzheimer’s disease, a number expected to double every 20 years. Current treatments offer limited symptomatic relief, and there remains a significant demand for disease-modifying therapies.
XPro, developed by INmune Bio, aims to address this need by targeting neuroinflammation, a key factor in Alzheimer’s progression. The treatment selectively inhibits soluble TNF-α, reducing harmful inflammation while preserving normal immune function. Early clinical trials have shown promising results, including improved cognitive function and reduced neuroinflammation markers.
The ongoing MINDFul trial, a Phase 2 study initiated in 2022, is evaluating the safety and efficacy of XPro in early Alzheimer’s patients with inflammation biomarkers. The study involves 203 participants receiving weekly injections of XPro or a placebo over 23 weeks. Results from this trial are anticipated in June, with an open-label extension study available for participants following the main trial.
In other recent news, INmune Bio Inc. reported financial results for the first quarter of 2025, revealing a net loss of $9.7 million, which is an improvement from the $11 million loss in the same period last year. The company’s earnings per share (EPS) of -$0.43 surpassed analysts’ expectations, which had forecasted -$0.49. This positive earnings surprise reflects the company’s efforts to reduce research and development expenses, which decreased to $7.6 million from $8.7 million in the previous year. INmune Bio’s cash reserves remain strong at $19.3 million, sufficient to fund operations through the third quarter of 2025.
The company is making significant progress in its Alzheimer’s treatment program, with top-line results for its Xpro treatment expected by mid-to-late June. Additionally, INmune Bio is planning to file a Biologics License Application (BLA) for its RDEB treatment, Cordstrom, in 2026. On the clinical front, the company has completed phase one dose escalation cohorts for its prostate cancer treatment, Inkmune, with no adverse events reported, and has moved into phase two trials. Analyst firms like Raymond (NSE:RYMD) James and Scotiabank (TSX:BNS) have shown interest in the company’s developments, highlighting the potential market for INmune Bio’s Alzheimer’s treatment, especially for patients with specific genetic profiles.
These recent developments underscore INmune Bio’s focus on advancing its innovative treatments in challenging biotech markets. The company is also transitioning its manufacturing operations to a UK government incubator facility to support future clinical trials and commercial supply. As the company prepares for upcoming milestones, including the anticipated release of Alzheimer’s trial results, it remains committed to its growth strategy and addressing unmet medical needs.
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