BOCA RATON, Fla. - INmune Bio Inc. (NASDAQ: INMB), a clinical-stage biotechnology company, has announced findings from its phase 1b study of XPro™, a therapeutic aimed at treating Alzheimer's disease (AD), at the annual Alzheimer's Association International Conference (AAIC) held in Philadelphia.
The study presented on Monday indicates that a 12-week treatment with XPro™ led to significant changes in synaptic proteins within the cerebrospinal fluid (CSF) of patients with AD. Synaptic proteins are critical for neuron communication, and their loss is a hallmark of Alzheimer’s progression.
CJ Barnum, PhD, VP of Neuroscience at INmune Bio, explained that the treatment's impact on a wide range of proteins and pathways is consistent with preclinical models and expectations for restoring normal immune function.
XPro™ is described as a next-generation inhibitor of tumor necrosis factor (TNF) that selectively neutralizes soluble TNF (sTNF) without affecting trans-membrane TNF (tmTNF) or TNF receptors. This specificity could reduce neuroinflammation without causing immunosuppression, potentially benefiting patients with neurological diseases.
INmune Bio is currently conducting a phase 2 clinical trial on mild to moderate Alzheimer’s patients, with top-line results expected in early 2025. The company specializes in developing treatments targeting the innate immune system to combat various diseases, including cancer and chronic inflammation.
INmune Bio Inc., a clinical-stage biotech company, has been making significant strides in its research and development efforts. The company's study, published in the Journal of Immunotherapy of Cancer, revealed the potential of memory-like natural killer cells, generated by INKmune™ priming, in destroying multiple types of tumors. This discovery is particularly significant as it demonstrates the in vivo generation of these cells for the first time, a crucial step in validating INmune Bio's therapeutic approach.
The company is currently conducting a Phase I/II trial of INKmune™ for metastatic castration-resistant prostate cancer, with preliminary results expected later in the year. In addition to this, INmune Bio reported a net loss of $11 million for the quarter, but recent fundraising efforts that raised $14.5 million in gross proceeds have bolstered its financial position.
INmune Bio is also set to join the Russell 3000 Index starting from July, a development that reflects the company's market presence and potential for increased visibility within the investment community.
InvestingPro Insights
As INmune Bio Inc. (NASDAQ: INMB) continues to progress in its clinical trials, investors and stakeholders are closely monitoring the company's financial health and market performance. Recent data from InvestingPro shows that INMB holds a market capitalization of approximately $169.73 million. Despite the innovative potential of XPro™ for treating Alzheimer's disease, InvestingPro Tips highlight that analysts expect a sales decline and a drop in net income for the current year. Moreover, the company's stock price has been noted for its volatility.
InvestingPro Data further reveals a Price/Earnings (P/E) Ratio of -4.46, indicating that the company is not currently profitable, a situation that analysts do not anticipate will change within the year. Additionally, INMB is trading at a high Price/Book multiple of 6.01, which suggests a higher market valuation compared to the company's book value. The revenue for the last twelve months as of Q1 2024 stands at $0.13 million, with a significant revenue decline of -47.39% from the previous year.
These financial metrics underscore the speculative nature of investing in INmune Bio at this stage, with the company's future hinging on the successful development and regulatory approval of its products. For investors seeking a more comprehensive analysis, InvestingPro offers additional insights and metrics. There are currently 8 more InvestingPro Tips available for INMB, which can be accessed at https://www.investing.com/pro/INMB. Interested readers can use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, providing them with an even deeper dive into the company's prospects.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.