BofA’s Hartnett says concentrated U.S. stock returns are likely to persist
On Monday, Raymond (NSE:RYMD) James expressed continued confidence in INmune Bio Inc. (NASDAQ:INMB), as analyst Gary Nachman maintained an Outperform rating and a $23.00 price target on the company’s stock. According to InvestingPro data, analysts’ price targets range from $20 to $30, suggesting significant upside potential despite the stock’s recent 9.4% weekly decline. The stock has shown strong momentum with a 39.5% gain over the past six months. Nachman’s update followed INmune Bio’s fourth-quarter review, which highlighted notable progress in its three clinical programs. The analyst’s focus remains on the company’s lead product candidate, XPro, which is expected to deliver Phase 2 early Alzheimer’s disease data in June.
The management of INmune Bio has reiterated its assurance in the XPro trial, citing several distinctive features that could contribute to its success. These include the use of inflammatory biomarker enrichment, the EMACC primary endpoint, and a 24-week trial duration. InvestingPro analysis reveals the company maintains a healthy current ratio of 3.14, with liquid assets exceeding short-term obligations, providing financial flexibility to support its clinical programs. The company aims to utilize XPro as a precision medicine tool to halt cognitive decline in patients with early Alzheimer’s disease. Safety concerns have not arisen during the trials, which is anticipated to positively impact XPro’s clinical profile.
However, there has been a slight delay in the CORDStrom program for RDEB, with the BLA submission now expected in the first quarter of 2026, a shift from the end of 2025. This is due to INmune Bio addressing various CMC/BLA requirements. An Open Label Extension (OLE) study is anticipated to begin soon. Additionally, INKmune, another of the company’s products, is making progress in Phase 1/2 trials for mCRPC, with medium and high dose cohorts, and results are expected in the second and third quarters of 2025.
INmune Bio’s financial runway is projected to last through the third quarter of 2025. The company may potentially extend its cash runway through the utilization of warrants and additional at-the-market (ATM) offerings. With a market capitalization of $172.4 million and minimal debt on its balance sheet, the company appears positioned to fund its development programs. For deeper insights into INMB’s financial health and growth prospects, InvestingPro subscribers can access the comprehensive Pro Research Report, which includes detailed analysis of the company’s valuation metrics and growth potential. Nachman also mentioned that positive data from the Phase 2 Alzheimer’s disease trial could serve as a significant catalyst for value creation for the company.
In other recent news, INmune Bio Inc reported its Q4 2024 financial results, highlighting a net loss of $42.1 million, an increase from the previous year’s $30 million. The company did not specify its revenue but noted significant investment in research and development, which rose to $33.2 million from $20.3 million in 2023. INmune Bio raised $29.9 million through the sale of common stock and warrants, bolstering its financial position. The company is gearing up to release top-line data from its Alzheimer’s trial in June 2025, a significant milestone anticipated by investors. Additionally, INmune Bio plans to file a Biologics License Application for its KORSTROM treatment in Q1 2026. Analyst discussions during the earnings call focused on the company’s strategic advancements and regulatory strategies for its upcoming therapies. INmune Bio’s focus on neuroinflammation and its innovative clinical approaches continue to position it prominently in the biotech sector.
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