Robust Pipeline and Financial Stability Underpin Buy Rating for Inmune Bio

Analyst Jason McCarthy from Maxim Group reiterated a Buy rating on Inmune Bio (INMB – Research Report) and keeping the price target at $22.00.

Jason McCarthy has given his Buy rating due to a combination of factors relating to Inmune Bio’s financial stability and promising clinical trial prospects. Inmune Bio’s financial report for the first quarter of 2024 indicates a solid cash position, with sufficient funds to carry the company into 2025, bolstered by recent equity financings. The company’s strategic financial planning is evident, with the potential for additional funding through warrant exercises linked to Phase 2 (P2) data for their Alzheimer’s disease (AD) program, XPro, which could inject an extra $15 million into their reserves.

Moreover, McCarthy’s optimism is further fueled by Inmune Bio’s robust pipeline, particularly the advancement of their AD and metastatic castration-resistant prostate cancer (mCRPC) programs. The XPro product is not only advancing into P2 trials for AD but is also poised to begin trials for treatment-resistant depression in the latter half of 2024. The INKmune program’s P1/2 trial in mCRPC is making steady enrollment progress and may provide significant updates in the second half of 2024. These clinical developments, along with exploration into renal cell cancer, present a favorable risk/reward scenario that underpins McCarthy’s Buy recommendation for Inmune Bio.

McCarthy covers the Healthcare sector, focusing on stocks such as Actinium Pharmaceuticals, Inmune Bio, and Indaptus Therapeutics. According to TipRanks, McCarthy has an average return of -17.4% and a 28.51% success rate on recommended stocks.

In another report released on April 29, BTIG also maintained a Buy rating on the stock with a $21.00 price target.

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Inmune Bio (INMB) Company Description:

Inmune Bio, Inc. is a clinical stage biotechnology company, which develops immunotherapies that reprogram a patient’s innate immune system to allow the immune system to fight cancer. Its products include INKMUNE and INB03. The company was founded by Mark Lowdell in September 2015 and is headquartered in La Jolla, CA.