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Inmune Bio (NASDAQ:INMB) Inc., a biotechnology company with a market capitalization of $163 million, has made a significant change in its financial oversight. According to InvestingPro data, the company currently maintains a weak financial health score, though it holds more cash than debt on its balance sheet. On May 7, 2025, the company announced the dismissal of its previous independent registered public accounting firm, Marcum LLP, following the firm’s acquisition by CBIZ (NYSE:CBZ) CPAs P.C. on November 1, 2024. The company’s audit committee approved this decision.
The company’s financial statements for the fiscal years ending December 31, 2024, and 2023, audited by Marcum, did not contain any adverse opinions or disclaimers. However, they did include an explanatory paragraph regarding the uncertainty about Inmune Bio’s ability to continue as a going concern. This concern comes despite the company maintaining a current ratio of 3.14, indicating that its liquid assets exceed short-term obligations. InvestingPro subscribers can access 10+ additional financial health indicators and expert analysis in the comprehensive Pro Research Report.
Throughout the fiscal years in question and up until the dismissal, there were no disagreements or reportable events between Inmune Bio and Marcum that would have warranted a mention in the audit report.
Inmune Bio has provided Marcum with the disclosures made in this report and has received a letter from Marcum, dated May 7, 2025, concurring with the statements made by the company.
Simultaneously, Inmune Bio has engaged CBIZ CPAs as their new independent registered public accounting firm, effective May 7, 2025, for the fiscal year ending December 31, 2025. The audit committee has approved this engagement.
Prior to the engagement, Inmune Bio had not consulted with CBIZ CPAs on any accounting principles or transactions that might have impacted the company’s financial statements, nor were there any disagreements or reportable events involving CBIZ CPAs.
This transition in financial oversight is detailed in Inmune Bio’s latest filing with the Securities and Exchange Commission (SEC). The company’s commitment to maintaining high standards of financial integrity and transparency remains steadfast as they navigate this change.
The information in this article is based on Inmune Bio’s recent SEC filing. Investors should note that the company’s next earnings report is scheduled for May 8, 2025, where management may provide additional context about this transition. The stock has experienced significant volatility, with a 9% decline in the past week despite a 53% year-to-date gain.
In other recent news, INmune Bio Inc. reported its financial results for Q4 2024, revealing a net loss of $42.1 million, an increase from $30 million in 2023. The company raised $29.9 million from the sale of common stock and warrants during the year. INmune Bio’s research and development expenses rose to $33.2 million, highlighting its commitment to advancing treatments for Alzheimer’s disease and rare genetic conditions. The company anticipates releasing topline data from its Alzheimer’s trial in June 2025, which could significantly impact its future direction. Additionally, INmune Bio received a favorable opinion from the United States Patent and Trademark Office for its CORDStrom™ platform, a potential systemic therapy for recessive dystrophic epidermolysis bullosa. The company plans to expedite U.S. patent approval using the Patent Prosecution Highway. Analyst Gary Nachman from Raymond (NSE:RYMD) James maintained an Outperform rating on INmune Bio, citing confidence in its lead product candidate, XPro. Meanwhile, INmune Bio presented early data from its Alzheimer’s trial at an international conference, with topline results expected in June 2025.
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