Inmune Bio, Inc. reported its financial results for the third quarter of 2025, revealing a net loss of $6.5 million, a significant improvement compared to a net loss of $12.1 million in the same period last year. For the nine months ended September 30, 2025, the company recorded a net loss of $40.7 million, up from $32.9 million in the prior year. The company did not generate any revenue during the third quarter, but it recognized $50,000 in revenue for the nine-month period, compared to $14,000 in the same period of 2024. The reduction in losses was attributed to decreased research and development expenses, which fell to $4.9 million from $10.1 million year-over-year, primarily due to the completion of the Phase 2 clinical trial for its Alzheimer’s drug candidate, XPro.
In terms of operational changes, Inmune Bio has made strategic decisions regarding its product development pipeline. The company halted immediate plans to further develop XPro after the Phase 2 trial did not meet its primary endpoint, although a subgroup analysis indicated potential benefits. Consequently, the company recorded an impairment of $16.5 million related to the intangible asset associated with XPro. The company is now seeking a partner to continue studies on this drug. Additionally, Inmune Bio has entered into a license agreement with Great Ormond Street Hospital for its CORDStrom product, which is being developed to treat recessive dystrophic epidermolysis bullosa (RDEB) in pediatric patients.
As of September 30, 2025, Inmune Bio reported total current assets of $30.7 million, an increase from $22.7 million at the end of 2024, primarily due to cash and cash equivalents rising to $27.7 million from $20.9 million. The company’s total liabilities increased slightly to $8.0 million from $7.5 million, with current liabilities remaining stable. The company’s stockholders’ equity decreased to $25.4 million from $32.1 million, reflecting the ongoing net losses. The company’s employee headcount has also seen changes, with increased compensation expenses due to employee terminations.
Looking ahead, Inmune Bio faces substantial challenges as it continues to incur significant losses and negative cash flows from operations. The company has indicated that it may not have sufficient liquidity to sustain operations for the next year without additional financing. Management is exploring various funding strategies, including public or private equity sales, debt financing, and potential collaborations. The company’s ability to secure additional capital will be critical for advancing its product candidates and maintaining operations. Inmune Bio's future financial performance will depend on its success in navigating these challenges and achieving regulatory approvals for its product candidates.
About Inmune Bio, Inc.
INmune Bio Inc. develops immunotherapies targeting innate immune dysfunction to treat cancer, neurodegenerative, and inflammatory diseases. Its core platforms include INKmune, an NK cell-based cancer therapy; XPro1595, a TNF inhibitor for Alzheimer's and neuroinflammation; and CORDStrom, a stem cell product for skin disorders. The company focuses on innovative biologics, regulatory pathways, and strategic collaborations to address unmet medical needs in global markets.
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