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BOCA RATON - INmune Bio Inc. (NASDAQ:INMB), a $76 million market cap biotechnology company whose stock has surged nearly 28% in the past week, will release additional analyses from its Phase 2 MINDFuL trial of XPro, a selective soluble TNF inhibitor for Alzheimer’s disease, at the Alzheimer’s Association International Conference in Toronto on Tuesday, July 29. According to InvestingPro data, the company maintains a strong balance sheet with more cash than debt, positioning it well for continued research and development efforts.
Dr. Sharon Cohen, medical director of the Toronto Memory Program and site principal investigator for the trial, will deliver the presentation in a Developing Topics session between 2:00 and 3:30 PM ET.
The double-blind study enrolled 208 participants with early-stage Alzheimer’s disease who had biomarkers of inflammation. Participants received either XPro or placebo in a 2:1 ratio for 24 weeks, with cognitive changes measured using the Early Mild Alzheimer’s Cognitive Composite. With analyst price targets ranging from $0.60 to $8.00 per share, market expectations for this trial’s outcome vary significantly. InvestingPro subscribers can access detailed analysis and 13 additional key insights about INMB’s potential.
While the primary endpoint was not met in the overall modified-intent-to-treat group, the company reported that a subpopulation of patients with confirmed amyloid-beta pathology and multiple biomarkers of systemic inflammation showed consistent benefits in clinical measures of cognition, behavior, and Alzheimer’s-related biomarkers after six months of treatment.
"These meaningful results reinforce our commitment to developing this therapy," said Dr. CJ Barnum, Vice President of CNS Drug Development at INmune Bio, according to the press release.
The company plans to submit a publication of the study results by mid-August and is seeking a strategic partnership to further develop XPro as an Alzheimer’s treatment.
XPro targets soluble TNF while preserving trans-membrane TNF and TNF receptors, potentially reducing neuroinflammation in neurologic disorders.
In other recent news, INmune Bio Inc. announced mixed results from its Phase 2 MINDFuL trial of XPro in early Alzheimer’s disease patients. The trial did not meet its primary cognitive endpoint in the overall study population, but positive outcomes were observed in a predefined subgroup of amyloid-positive patients with two or more biomarkers of inflammation. Following these results, Lucid Capital Markets downgraded INmune Bio’s stock from Buy to Neutral and significantly reduced its price target from $25.00 to $2.00. Similarly, Raymond James downgraded the stock from Outperform to Market Perform due to the trial’s failure to meet its primary endpoint.
In financial developments, INmune Bio has raised approximately $19 million through a registered direct offering. The company sold 3,000,000 shares of common stock at $6.30 per share to healthcare-focused institutional investors. This offering is expected to close around June 30, 2025, pending customary closing conditions. Meanwhile, anticipation had built around the release of the Alzheimer’s trial data, as the company prepared to present the findings in a conference call.
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