Inmune Bio Earns Buy Rating on Positive XPro Developments and Strong Financials

In a report released yesterday, Jason McCarthy from Maxim Group maintained a Buy rating on Inmune Bio (INMB – Research Report), with a price target of $22.00.

Jason McCarthy has given his Buy rating due to a combination of factors including recent positive developments and financial readiness of Inmune Bio. The stability data for Inmune Bio’s leading drug candidate, XPro, has been confirmed to be consistent with other pegylated cytokines, such as alpha-interferon, which allows for the use of established supply chain strategies. This indicates a significant preparatory milestone for the upcoming Phase 3 trials in Alzheimer’s disease. Additionally, the company’s efforts to optimize XPro for self-administration through a pre-filled syringe format could enhance its commercial viability and patient convenience.
Moreover, McCarthy’s optimistic assessment is reinforced by the company’s strong financial standing, having raised sufficient capital to fund operations through the key milestone of topline Phase 2 data in Alzheimer’s, expected in late 2024 or early 2025. The successful financing round, which concluded with $4.8 million raised, extends the company’s financial runway into mid-2025. Inmune Bio’s proactive management of its capital structure and the strategic development of its product pipeline underpin the Buy rating by offering both stability and potential for growth.

In another report released on April 9, Robert W. Baird also maintained a Buy rating on the stock with a $16.00 price target.

INMB’s price has also changed dramatically for the past six months – from $7.180 to $10.620, which is a 47.91% increase.

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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.