BOCA RATON, FL - INmune Bio Inc. (NASDAQ:INMB), a clinical-stage immunology company, has reported that two Alzheimer's Disease (AD) patients have shown stable cognitive function over three years while being treated with the company's drug XPro™ under the Australian Special Access Scheme (SAS). These patients were part of a Phase 1b trial that concluded in September 2021.
Patient 1, diagnosed at age 61 and enrolled in the trial at 63, and Patient 2, diagnosed at 59 and enrolled at 60, have both continued to receive XPro™ following the trial's completion. According to their primary care physicians, the drug has been well-tolerated without any obvious adverse reactions. The patients' cognitive decline appears to have halted, and they have expressed a desire to continue the treatment.
R.J. Tesi, M.D., CEO of INmune Bio, stated, "the long-term administration of XPro™ has been safe and well-tolerated with these patients maintaining stable cognitive functions for more than three years of continued XPro treatment." He noted that the stability in cognitive and physical function over this period is encouraging, given the typical progression of Alzheimer's Disease.
The company is currently conducting a Phase 2 clinical trial of XPro™ for AD treatment in patients with biomarkers of inflammation, in line with its previous guidance. INmune Bio focuses on developing treatments that target the innate immune system to fight diseases such as cancer, early Alzheimer's disease, and treatment-resistant depression.
It's important to note that INmune Bio's products, including XPro™, are still undergoing clinical trials. They have not received approval from the US Food and Drug Administration (FDA) or any regulatory body, and there is no certainty that they will achieve approval or that any specific outcomes will be realized. The company has emphasized the preliminary nature of these findings and that clinical trials are in the early stages.
This update is based on a press release statement from INmune Bio Inc.
InvestingPro Insights
As INmune Bio Inc. (NASDAQ:INMB) continues to explore the potential of its immunological treatments for Alzheimer's Disease, investors and stakeholders are closely monitoring the company's financial health and stock performance. Here are some key metrics and insights from InvestingPro that shed light on the company's current market position:
- The company's market capitalization stands at a modest $232.59 million, reflecting its status as a clinical-stage biotech company with a focused pipeline.
- Despite the challenges of profitability common in the biotech industry, INmune Bio holds more cash than debt on its balance sheet, which is a positive sign for its financial stability.
- InvestingPro Data indicates that the company's Price / Book ratio for the last twelve months as of Q4 2023 is 6.23, which is considered high and suggests a significant premium is being placed on the company's assets and potential.
Investors have seen a significant return over the last week, with a price total return of 16.07%. This uptrend is part of a larger pattern, with a high return over the last year at 62.34%. Such performance may be indicative of investor optimism about the company's ongoing clinical trials and the potential market for its Alzheimer's Disease treatments. However, it's important to note that the stock price movements of INmune Bio have been quite volatile, a common characteristic in the biotech sector where clinical trial outcomes can greatly affect investor sentiment.
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