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BOCA RATON - INmune Bio Inc. (NASDAQ:INMB), a clinical-stage immunology company trading at $2.79 per share, reported a net loss of $24.5 million for the second quarter ended June 30, 2025, compared to $9.7 million in the same period last year. The stock has experienced significant volatility, falling over 70% in the past six months, according to InvestingPro data.
The company announced that its phase 2 MINDFuL trial for XPro in mild cognitive impairment and early Alzheimer’s disease missed its primary cognitive endpoints in the overall patient population. However, the company noted a positive impact on the primary cognitive endpoint in a pre-defined subset of patients with two or more biomarkers of inflammation. InvestingPro analysis shows the company maintains strong liquidity with a current ratio of 2.64, indicating sufficient resources to continue its research programs.
Research and development expenses decreased to $5.8 million from $7.1 million in the comparable quarter of 2024. General and administrative expenses also declined to $2.3 million from $2.8 million year-over-year. The company recorded a $16.5 million impairment charge on acquired in-process research and development intangible assets during the quarter.
INmune Bio reported several corporate developments, including the retirement of CEO Dr. RJ Tesi, with David Moss appointed as President and CEO. The company also closed a $19 million registered direct offering during the quarter.
As of June 30, 2025, the company had cash and cash equivalents of $33.4 million, compared to $20.9 million at the end of 2024. The company had approximately 26.6 million common shares outstanding as of August 7, 2025. According to InvestingPro data, INMB holds more cash than debt on its balance sheet, with liquid assets exceeding short-term obligations. The company’s market capitalization stands at $75.5 million, and analysts have recently revised their earnings expectations upward for the upcoming period. Get access to 12 additional ProTips and comprehensive financial analysis through InvestingPro’s detailed research reports.
INmune Bio continues to advance its three product platforms: the DN-TNF platform (XPro), the Natural Killer Cell Priming Platform (INKmune), and the CORDStrom platform. The company expects to hold an end-of-phase 2 meeting with the FDA regarding the MINDFuL trial in the fourth quarter of 2025.
In other recent news, INmune Bio Inc. announced successful results from its Phase 1/2 CaRe PC trial, which evaluated INKmune in patients with metastatic castration-resistant prostate cancer. The trial met both primary and secondary endpoints and demonstrated a solid safety profile, with promising signs of immunologic and tumor responses. Following this announcement, Raymond James reiterated its Market Perform rating on INmune Bio. Additionally, INmune Bio plans to release further analyses from its Phase 2 MINDFuL trial of XPro for Alzheimer’s disease at the Alzheimer’s Association International Conference in Toronto. However, Lucid Capital Markets downgraded INmune Bio from Buy to Neutral due to mixed results from the same Alzheimer’s trial, adjusting its price target significantly lower. The Phase 2 MINDFuL trial did not meet its primary endpoint in the full cohort but showed potential benefits in a specific subpopulation. These developments highlight the ongoing clinical activities and mixed outcomes in INmune Bio’s research efforts.
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