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On Friday, Nevada-based biopharmaceutical company Inmune Bio (NASDAQ:INMB) Inc. concluded its annual stockholders meeting, resulting in the re-election of its board of directors and the ratification of its independent auditor for the upcoming fiscal year.
The company, which operates under the ticker NASDAQ:INMB, saw its stockholders cast their votes on two key proposals. The first proposal involved the election of directors, where all five nominees were successfully elected, with a sixth nominee, Edgardo Baracchini, having resigned before the vote was finalized.
The votes were as follows: Raymond J. Tesi, MD received 9,947,830 votes for and 516,892 withheld; J. Kelly Ganjei received 9,627,979 for and 836,743 withheld; Tim Schroeder received 9,908,788 for and 555,934 withheld; Scott Juda, JD (NASDAQ:JD) received 9,950,069 for and 514,653 withheld; and Marcia Allen received 9,477,214 for and 987,508 withheld. There were also 4,069,201 broker non-votes for each director.
The second proposal was the ratification of Marcum LLP as the company's independent auditors for the fiscal year ending December 31, 2024. This proposal passed with significant support, garnering 14,504,668 votes in favor, 7,406 against, and 21,849 abstentions.
The re-election of the board members ensures continuity in Inmune Bio's governance as the company continues to develop its portfolio of biological products. The stockholders' decision to retain Marcum LLP reflects confidence in the firm's ability to provide independent audit services for the next fiscal year.
Inmune Bio, which is classified under the Biological Products industry (excluding Diagnostic Substances), has its principal executive offices in Boca Raton, Florida. The company is recognized for its focus on harnessing the immune system to treat cancer and other diseases.
This news is based on information from a recent SEC filing by Inmune Bio Inc.
In other recent news, INmune Bio , a clinical-stage biotechnology company, has seen significant developments. The company is set to join the Russell 3000 Index in July, following the annual reconstitution of the Russell US Indexes. This inclusion is a testament to the firm's performance and potential for growth.
On the earnings front, INmune Bio reported a net loss for the first quarter of 2024, but remains optimistic due to the progress of its Alzheimer's therapy, XPro, and the INKmune program for treating prostate cancer.
The company raised $14.5 million in gross proceeds through recent fundraising efforts. Analysts from various firms have also noted the potential for accelerated FDA approval for XPro and the progress of INKmune. These recent developments underscore INmune Bio's ongoing efforts to innovate in the field of biotechnology.
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