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LOS ANGELES - INmune Bio , Inc. (NASDAQ:INMB), a clinical-stage biotech company valued at $175 million, has announced the treatment of the first patient in the Phase II segment of its ongoing clinical trial for metastatic castration-resistant prostate cancer (mCRPC) at the West Los Angeles Veterans Administration (VA) Hospital. The company's stock has shown strong momentum, gaining over 21% in the past week. InvestingPro data reveals 13 key insights about INmune Bio's financial health and market position.
The trial, known as CaRe PC, is an open label Phase I/II trial evaluating the safety and efficacy of INKmune, a novel NK cell targeted therapy. The intervention was administered to a patient at the West LA VA Medical (TASE:PMCN) Center, under the supervision of Dr. Matthew Rettig, Chief of Hematology-Oncology at the VA Greater Los Angeles Healthcare System. Financial analysis from InvestingPro shows the company maintains a healthy liquidity position with a current ratio of 2.59, indicating strong ability to fund its clinical programs.
INKmune is designed to activate the patient's natural killer (NK) cells, which play a crucial role in targeting tumor cells. Unlike many other immunotherapies, INKmune is administered as an outpatient treatment and is reported to have minimal side effects. This characteristic could potentially improve the management of prostate cancer among Veterans and the broader U.S. population.
The CaRe PC trial will test up to three dose levels of INKmune in men with mCRPC, with the patient recently treated receiving the medium dose. The trial employs a modified Bayesian design for dose escalation and aims to enroll up to 30 patients. Primary goals include demonstrating INKmune's safety and determining the optimal dose for future trials.
The study also incorporates advanced technologies, such as Artificial Intelligence (AI), to monitor the treatment's impact on tumor size and metastatic lesions, as well as changes in prostatic surface antigen (PSA) levels and circulating tumor DNA (ctDNA) in the blood.
The VA Health Care System is an integrated network that provides medical services to U.S. military veterans. Approximately 15,000 veterans are diagnosed and treated for prostate cancer annually at VA facilities. The Cleland-Dole Act, enacted in 2022, mandates improvements in prostate cancer care within the VA, including the integration of clinical trials into treatment pathways.
INmune Bio's CEO, RJ Tesi MD, highlighted the VA Health Care System as an ideal setting for conducting clinical trials due to its high-quality care and diverse patient population. While the company is not yet profitable, analysts have set price targets ranging from $16 to $22 per share, suggesting significant potential upside. For comprehensive analysis and detailed financial metrics, investors can access the full INmune Bio research report on InvestingPro, which includes expert insights and valuation analysis. The information for this article is based on a press release statement and InvestingPro data.
"In other recent news, INmune Bio Inc. reported a net loss of $12.1 million for the recent quarter, with research and development expenses amounting to $10.1 million. Despite this, the company's cash reserves remain strong at $33.6 million, projected to fund operations until the third quarter of 2025. INmune Bio has also been actively pursuing mergers and acquisitions, particularly focusing on anti-amyloid programs. The company announced the extension of its Rights Agreement until December 30, 2025, protecting shareholder interests. Additionally, the Compensation Committee approved new stock option grants for several company officers and non-employee directors.
Rodman & Renshaw initiated coverage on INmune Bio with a Buy rating and set a price target of $23.00. The firm's analyst, Elemer Piros, based his valuation on a detailed analysis of the potential future cash flows from INmune Bio's fosgonimeton program. INmune Bio has completed enrollment for the ADO2 Phase II trial of XPro in Alzheimer's patients and anticipates the start of a Phase II trial for treatment-resistant depression. These are recent developments in INmune Bio's ongoing operations."
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