• Net Loss: Approximately $12.1 million for Q3 2024, compared to $8.6 million in Q3 2023.

• Research and Development Expenses: Approximately $10.1 million for Q3 2024, compared to $6 million in Q3 2023.

• General and Administrative Expenses: Approximately $2.2 million for Q3 2024, compared to $2.6 million in Q3 2023.

• Cash and Cash Equivalents: Approximately $33.6 million as of September 30, 2024.

• Equity Offering Proceeds: $13 million raised in gross proceeds from a registered direct equity offering.

• Outstanding Shares: Approximately 22.2 million shares of common stock as of October 31, 2024.

• Warning! GuruFocus has detected 3 Warning Signs with INMB.

Release Date: October 31, 2024

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

Positive Points

• INmune Bio Inc (NASDAQ:INMB) successfully closed enrollment for its global Phase II trial of XPro in Alzheimer's disease, marking a significant milestone.

• The company demonstrated strong operational capabilities by managing a complex clinical trial across 8 countries and 30 sites.

• INKmune, a novel NK-focused cancer program, showed consistent immunologic effects and an excellent safety profile in its Phase I/II trial for metastatic castrate-resistant prostate cancer.

• INmune Bio Inc (NASDAQ:INMB) raised $13 million in gross proceeds from a registered direct equity offering, strengthening its financial position.

• The company has sufficient cash to fund operations into the third quarter of 2025, providing financial stability for ongoing and future projects.

Negative Points

• Net loss attributable to common stockholders increased to approximately $12.1 million for the quarter, compared to $8.6 million in the same period last year.

• Research and development expenses rose significantly to $10.1 million, up from $6 million in the previous year, indicating increased spending.

• The company faces challenges in patient enrollment for its Alzheimer's trial due to the need for specific inflammatory biomarkers.

• There is uncertainty regarding the regulatory pathway for XPro, particularly concerning the use of biomarkers in a potential Phase III trial.

• INmune Bio Inc (NASDAQ:INMB) has no deep-seated business development discussions in place, with potential partnerships likely hinging on future data outcomes.

Q & A Highlights

Q: In the XPro Phase II Alzheimer's trial, how selective have you been with patient enrollment, and will this be a challenge for a potential Phase III trial? A: Raymond Tesi, CEO, explained that they focus on patients with inflammation driving their Alzheimer's Disease, which is about 50% of patients. This strategy helps de-risk the clinical trial. The regulatory aspect will be discussed with the FDA after Phase II, but they are confident in managing it. CJ Barnum, VP of Drug Development, added that the selectivity is more about ensuring similar pathology in early phase studies.