INmune Bio Inc

NASDAQ:INMBUnited States

INmune Bio Inc. Announces Final Enrollment of 208 Patients in Phase 2 Trial in Early Alzheimer's Disease

Boca Raton, Florida, Nov. 13, 2024 (GLOBE NEWSWIRE) -- INmune Bio, Inc. (NASDAQ: INMB) (the "Company"), a clinical-stage inflammation and immunology company focused on developing treatments that harness the patient's innate immune system to fight disease announced today that it completed randomization of patients for its Phase 2 trial on Monday, November 11th. This global, blinded, randomized Phase 2 trial (the "AD02 trial") is focused on patients with Early AD and biomarkers of elevated neuroinflammation.

EXPENSES General and administrative 2,219 2,586 7,369 7,223 Research and development 10,067 5,985 25,813 14,266 ---------- ---------- ---------- ---------- Total operating expenses 12,286 8,571 33,182 21,489 ---------- ---------- ---------- ---------- LOSS FROM OPERATIONS (12,286) (8,528) (33,168) (21,362) ---------- ---------- ---------- ---------- OTHER INCOME (EXPENSE), NET 193 (35) 304 (238) ---------- ---------- ---------- ---------- NET LOSS $ (12,093) $ (8,563) $ (32,864) $ (21,600) ========== ========== ========== ========== Net loss per common share -- basic and diluted $ (0.60) $ (0.48) $ (1.71) $ (1.20) Weighted average common shares outstanding -- basic and diluted 20,185,676 18,008,295 19,176,853 17,966,990 COMPREHENSIVE LOSS Net loss $ (12,093) $ (8,563) $ (32,864) $ (21,600) Other comprehensive loss -- foreign currency translation (323) (23) (237) (36) ---------- ---------- ---------- ---------- Total comprehensive loss $ (12,416) $ (8,586) $ (33,101) $ (21,636) ========== ========== ========== ========== INMUNE BIO INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) (Unaudited) For the Nine Months Ended September 30, ----------------------------- 2024 2023 --------------- ----------- CASH FLOWS FROM OPERATING ACTIVITIES: Net loss $ (32,864) $ (21,600) Adjustments to reconcile net loss to net cash used in operating activities: Stock-based compensation 5,848 5,489 Accretion of debt discount 73 179 Changes in operating assets and liabilities: Research and development tax credit receivable 796 6,012 Other tax receivable 226 186 Prepaid expenses 646 2,492 Prepaid expenses -- related party 127 34 Other assets 49 (30) Accounts payable and accrued liabilities 2,689 (1,531) Accounts payable and accrued liabilities -- related parties 20 70 Deferred liabilities 60 (120) Accrued liability -- long-term - 254 Operating lease liabilities (18) (14) ----------- ---------- Net cash used in operating activities (22,348) (8,579) ----------- ---------- CASH FLOWS FROM FINANCING ACTIVITIES: Net proceeds from sale of common stock and warrants 27,789 775 Repayments of debt (7,500) (2,500) ----------- ---------- Net cash provided by financing activities 20,289 (1,725) ----------- ---------- Impact on cash from foreign currency translation (237) (36) NET DECREASE IN CASH AND CASH EQUIVALENTS (2,296) (10,340) CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 35,848 52,153 ----------- ---------- CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 33,552 $ 41,813 =========== ========== SUPPLEMENTAL DISCLOSURE OF CASH FLOWS INFORMATION: Cash paid for income taxes $ - $ - Cash paid for interest expense $ 661 $ 1,394