INmune Bio Reports $24.5 Million Net Loss in Q2 2025, Driven by Impairment Charge

INmune Bio, Inc. reported its financial results for the second quarter of 2025, revealing a net loss of $24.5 million, compared to a net loss of $9.7 million for the same period in 2024. For the six months ended June 30, 2025, the company recorded a net loss of $34.2 million, up from a loss of $20.8 million in the prior year. The increase in losses is attributed to a significant impairment charge of $16.5 million related to its Alzheimer’s drug candidate, XPro, which failed to meet primary endpoints in a Phase 2 clinical trial. Revenue for the six months was $50,000, a notable increase from $14,000 in the same period last year, primarily due to a license agreement that was terminated during 2025.

Operating expenses for the second quarter totaled $24.6 million, a substantial rise from $9.9 million in the previous year, driven by the impairment charge and ongoing research and development costs. Research and development expenses decreased to $5.8 million from $7.1 million year-over-year, reflecting the completion of the Phase 2 trial for XPro. General and administrative expenses also fell to $2.3 million from $2.8 million, largely due to reduced stock-based compensation. The company’s total assets decreased to $37.7 million as of June 30, 2025, down from $39.6 million at the end of 2024, while cash and cash equivalents increased to $33.4 million from $20.9 million.

Strategically, INmune Bio has made significant moves in its product development pipeline. The company is focusing on its CORDStrom platform, which aims to treat recessive dystrophic epidermolysis bullosa (RDEB) in pediatric patients. A license agreement with Great Ormond Street Hospital for Children allows INmune to utilize clinical trial data for regulatory submissions, with plans to file for marketing authorization in the UK and a Biologics License Application in the US in 2026. Additionally, the company is advancing its INKmune product, currently in a Phase I/II trial for metastatic castrate-resistant prostate cancer.

Despite these developments, the company faces challenges, including substantial doubt about its ability to continue as a going concern due to ongoing losses and negative cash flows. INmune Bio is exploring various financing strategies, including public or private equity sales, debt financing, and potential collaborations to secure the necessary funding for its operations. The company’s management has indicated that it expects to continue incurring significant losses as it advances its product candidates through clinical development and seeks regulatory approvals.