INmune Bio, Inc. (INMB), a clinical-stage immunotherapy company, is seeing a massive surge in share price within aftermarket trading session. INMB stock has gained 13.74% and is currently trading at $27.15.
Positive results by XPro™
This prodigious increase in INMB stock has come after the company announced a few hours ago that the Company’s selective DN-TNF inhibitor candidate for the treatment of Alzheimer’s disease as well as other neurological diseases, namely XPro™ (pegipanermin), improves the neuroimaging biomarkers of myelination in patients with Alzheimer Disease and besides, decrease multiple species of Phospho Tau (pTau). These biomarkers data are obtained from the analysis of the recently concluded phase 1 study of XPro™ in Alzheimer’s patients by the company. The company also said that the white matter in MRI metrics has shown improvements. There occurs a 16% improvement in radial diffusivity. RJ Tesi, M.D., Chief Executive Officer of INmune Bio, praised the performance and said that the company hopes that in Phase 2, the company would successfully demonstrate that when XProTM decreases neuroinflammation and neurodegeneration, there occurs a measurable benefit on the patient’s cognitive function.
Q2 financial results
On the 4th of August, INMB released the financial results for the second quarter of the fiscal year 2021, ended 30th June, and besides, provided the business update. The company announced that subsequent to the end of the quarter, it raised $36.9 million of the net proceed through the direct offering. It raised $15 million of net proceeds through the sales of common stock through ATM. Also, the company entered into an agreement with Silicon Valley Bank regarding a $15 million credit facility. The agreement aims to partially fund the buyout of the option held by Xencor resulting from INmune’s in-licensing of Xpro™ in October 2017. The company reported that net loss during the quarter stood at $6.7 million, as compared to $2.1 million during the equivalent period of 2020. The research and development expenses stood at $4.5 million, as compared to $0.9 million during the previous year’s equivalent period. The general and administrative expenses stood at $2.1 million, as compared to $1.2 million during the equivalent period of 2020. The cash and cash equivalents on the 30th of June stood at $39.5 million. RJ Tesi, M.D said on the occasion that he hoped the company would repeat a similar tremendous performance on the financial front in the future as well.
INMB agreement with LUMICKS
On the 22nd of July, IMNB announced that LUMICKS, a leading next-generation life science tools company, had installed the z-Movi® Cell Avidity Analyzer at INmune Bio. IMNB said that it was employing the z-Movi cell avidity analysis platform to depict that tumor priming mechanism of action is the increase in NK cell:tumor cell avidity. Professor Lowdell, CSO of INmune Bio, commented on the occasion that the data obtained from z-Movi is incredibly valuable for the company’s continued development of INKmune.
What’s next for INMB?
Analysts have predicted that INMB is expected to generate revenue of $0.97 million during the current fiscal year. The sales growth of the company is expected to rise by a humongous 8718.20% during the current fiscal year. These and other similar statistics reveal that the IMNB stock could gain a lot in the future, though market volatility could impart its influence on the performance. So, potential investors should keep watching IMNB stock performance in near future.
