BOCA RATON, FL - INmune Bio, Inc. (NASDAQ:INMB), a clinical-stage immunology company, announced today the successful completion of extended stability validation for its drug candidate XPro™, which can now be stored continuously at 2-8°C for 24 months. This stability aligns with other pegylated cytokines and supports the company's plans for global distribution as it advances towards Phase III trials and commercialization for the treatment of Alzheimer's Disease.
The extended stability validation, which included passing chemistry and potency assays at both 24 and 30 months, allows INmune Bio to utilize established temperature-controlled pharmaceutical supply chains. RJ Tesi, MD, CEO of INmune Bio, highlighted the importance of this milestone for the ease of distribution and patient use, stating that the company aims to provide XPro™ in pre-filled syringes for convenient home storage and self-administration.
In addition to the stability update, INmune Bio has filed a patent application for a novel anti-drug antibody assay for XPro™. This assay addresses the issue of false positives in conventional tests due to XPro's unique mechanism of action. The details of the assay will be presented at the upcoming 18th Workshops on Recent Issues in Bioanalysis in San Antonio, TX on May 7, 2024.
INmune Bio remains on schedule to complete its Phase 2 clinical trial involving XPro™ for Alzheimer's patients with neuroinflammation biomarkers. The company's focus is on harnessing the innate immune system to combat disease, with two product platforms in clinical trials targeting cancer, Alzheimer's disease, cognitive impairment, and treatment-resistant depression.
This announcement is based on a press release statement from INmune Bio, Inc.
InvestingPro Insights
As INmune Bio, Inc. (NASDAQ:INMB) progresses with its clinical trials and prepares for potential commercialization, investors are closely monitoring the company's financial health and stock performance. According to InvestingPro data, INMB holds a market capitalization of $191.53 million USD, with a notable return of 16.12% over the last week. This uptick in the stock price reflects positive investor sentiment around recent developments, including the extended stability validation for XPro™.
InvestingPro Tips indicate that INMB has been trading at a high revenue valuation multiple, which suggests that the market has high expectations for the company's future revenue growth. Despite the company's significant stock price volatility, with a 51.14% price increase over the last six months, INMB maintains a strong liquidity position. The company holds more cash than debt on its balance sheet and has liquid assets that exceed short-term obligations. This financial stability is crucial as the company advances towards Phase III trials and potential commercialization.
However, it's important for investors to be aware that analysts do not anticipate INmune Bio will be profitable this year, and the company has not been profitable over the last twelve months. Additionally, INMB does not pay a dividend to shareholders, which may be a consideration for those looking for income-generating investments. For those interested in a deeper analysis, there are additional InvestingPro Tips available at Investing.com/pro/INMB. To access these valuable insights, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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