INmune Bio Inc (INMB) Q2 2024 Earnings Call Highlights: Promising Advances Amid Rising Costs

GuruFocus News
4 min read

In This Article:

  • Net Loss: Approximately $9.7 million for Q2 2024, compared to $6.5 million in Q2 2023.

  • Research and Development Expense: $7.1 million for Q2 2024, compared to $4.1 million in Q2 2023.

  • General and Administrative Expenses: $2.8 million for Q2 2024, compared to $2.3 million in Q2 2023.

  • Cash and Cash Equivalents: Approximately $31.1 million as of June 30, 2024.

  • Equity Offerings: Raised approximately $14.5 million in gross proceeds from two equity offerings.

  • Shares Outstanding: Approximately 19.8 million shares of common stock as of August 1, 2024.

Release Date: August 01, 2024

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

  • INmune Bio Inc (NASDAQ:INMB) has made steady progress in both its Alzheimer's and cancer programs, with promising interim data from the Phase 2 Alzheimer's trial.

  • The company's Alzheimer's drug, XPro, is showing potential in improving synaptic function, which is crucial for cognitive health.

  • INKmune, the company's cancer treatment, has demonstrated the ability to create cancer-killing memory-like NK cells, showing promise for treating solid tumors.

  • The company successfully raised approximately $14.5 million in gross proceeds from equity offerings, strengthening its financial position.

  • INmune Bio Inc (NASDAQ:INMB) joined the Russell 3000 Index, which is expected to increase its visibility within the investment community.

Negative Points

  • Enrollment for the Phase 2 Alzheimer's trial has taken longer than expected due to stringent patient selection criteria.

  • The company's net loss increased to approximately $9.7 million for the quarter ended June 30, 2024, compared to $6.5 million for the same period in 2023.

  • Research and development expenses rose significantly, totaling $7.1 million for the quarter, up from $4.1 million in the previous year.

  • There is uncertainty regarding the EU's stance on anti-amyloid drugs, which could impact the Alzheimer's treatment landscape.

  • The company faces challenges in manufacturing and scaling up its INKmune product, although steps are being taken to address these issues.

Q & A Highlights

Q: Can you explain the role of synaptic markers in Alzheimer's treatment and their relevance compared to other biomarkers like Phospho-tau? A: Christopher Barnum, Head of Neuroscience, explained that while synaptic markers are not a long-term biomarker solution, they are useful in reinforcing the biology of XPro. They align well with EEG changes, which are likely subserved by changes at the synapse level. Although not a permanent solution, they help support decision-making and align with the expected biology of XPro.

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